NJ S103

Allows parents or legal guardians to place a security freeze on the consumer credit report of a "protected consumer," defined as anyone under 18 years of age, to prevent child identity theft

Requires consumer reporting agencies to create a record and place a security freeze for a protected consumer even if no file currently exists, with the record used only for identification purposes, not creditworthiness evaluation

Consumer reporting agencies must place the freeze within 5 business days and provide a unique personal identification number or password for the parent/guardian to use when authorizing release of credit information

Security freeze remains in place until the parent/guardian requests removal or the protected consumer turns 18, with removal processed within 3 business days upon proper identification and proof of authority

No fee may be charged to place a security freeze; fees up to $5 may be charged for removing/temporarily lifting a freeze or replacing a lost personal identification number