Oregon Adds Provisions Regarding Security Freezes on Protected Consumer Reports
by: Paul McSheffrey
The Oregon state legislature recently passed Enrolled Senate Bill 574, amending statutes relating to security freezes on protected consumers’ consumer reports.
The Act provides procedures for requesting security freezes and protective records for “protected consumers”. A “protected consumer” includes individuals no older than sixteen, an individual who is incapacitated, or an individual who has been appointed a guardian or conservator. A “protective record” is defined as information that a consumer reporting agency compiles to identify a protected consumer for whom the consumer reporting agency has not prepared a consumer report. A “security freeze” is a notice placed in a consumer report or protective record that prohibits a consumer reporting agency from releasing information in the report or record for an extension of credit.
Under the revisions, a representative may request a security freeze be placed upon a protected consumer’s consumer report or protective record. The representative must present proper identification as well as proof of the representative’s authority to act on behalf of the protected consumer. Sufficient proof includes a court order, a lawfully executed power of attorney, or a notarized affidavit describing the representative’s authority to act on behalf of the protected consumer.
Additionally, the Act provides procedures for requesting security freezes, temporary lifts of security freezes, and deletion of protective records. Subject to some exemptions found in ORS 646A.614, a consumer reporting agency must comply with valid requests described in the ACT.
These changes are effective immediately with an operative date of September 5, 2013.
About the Author:
Paul McSheffrey, Esq. is Associate Counsel and Compliance Specialist at Bankers Advisory, Inc. He is a graduate of Northeastern University and earned his Juris Doctor at the New England School of Law. Paul is admitted to the Bar in Massachusetts and New York. He can be reached at paul@bankersadvisory.com
Paul McSheffrey, JD, is a senior regulatory compliance consultant with CLA. He is a graduate of Northeastern University and earned his juris doctor at the New England School of Law. He is admitted to the Bar in both Massachusetts and New York.
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