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ACT NO. 211


Commerce and trade; consumer fraud; fair credit reporting

This act amends the statute allowing victims of identity theft to place a security freeze on their credit report to allow any Vermont consumer to do so. Credit reporting agencies may charge a consumer who is not a victim of identity theft a fee of up to $10.00 to place a freeze on a credit report and up to $5.00 to remove the freeze or authorize the release of your credit report for a specific party, parties, or period of time after the freeze is in place. Victims of identity theft may do so at no charge when the victim submits a copy of a police report, investigative report, or complaint filed with a law enforcement agency about unlawful use of the victim's personal identity information by another person. The statute now requires the phone number to call to stop receiving preauthorized approvals of credit to be included in the disclosure notice regarding the security freeze. The act provides that the security freeze shall not apply to property and casualty insurance companies for use in setting or adjusting a rate or underwriting for property or casualty insurance purposes. If credit information relied on by an insurer is determined to be incorrect and the insurer receives written notice within one year of the date after the insured is no longer a customer of the insurer, the insurer shall reunderwrite and rerate the consumer within 30 days after receiving the notice. Any overpayment by the insured shall be refunded.

Effective Date: July 1, 2006

Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont