Seventeen U.S. states have enacted provisions that allow consumers, under varying circumstances, to restrict access to their credit reports. However, proposed revisions to the federal Fair Credit Reporting Act could pre-empt those laws, making it impossible for states to extend these protections to consumers.
Under the federal law, consumers would be able to freeze their credit reports only if they'd been the victims of identity theft--a measure one North Carolina lawmakers likened to putting on a bullet proof vest only after you've been shot.
While the proposed revisions include provisions aimed at requiring greater security for consumer credit information, the undermining of the more potent state protections has many lawmakers and consumer advocates questioning the bill.
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