Worried About Credit Fraud? Why Not Freeze It Out?

Summary


The credit industry is considering legislation that allows you to legally "freeze" your credit history to prevent wily fraudsters from opening accounts on your behalf.

The system has been in place in 40 US states for several years and allows customers to legally "freeze" their credit file so that lenders know not to grant any credit when researching a person's credit history.

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Extract


Worried About Credit Fraud? Why Not Freeze It Out?

As the move is enshrined in US law, the lender must bear any liability if a fraudulent ac...

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