Senate Bill 66 Summary

• Establishes the "Consumer Security Act" allowing Michigan residents to place security freezes on their credit files by written request to consumer reporting agencies.

• Requires consumer reporting agencies to place security freezes within 5 business days and prohibits release of consumer report information without express consumer authorization while freeze is in effect.

• Consumer reporting agencies must provide consumers with a unique personal identification number or password within 5 business days to temporarily lift freezes or allow limited access to their files.

• Consumers can temporarily lift freezes (within 3 business days) or permanently remove freezes (within 3 business days) by providing identification and their PIN/password; removal is free while temporary lifts may cost up to $8 per request.

• Initial security freeze placement may cost up to $10; consumers can sue for actual damages, attorney fees, and court costs for intentional or negligent violations by consumer reporting agencies.