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Financial Services Law Insights and Observations

Florida prohibits fees for security freezes

State Issues Security Freeze Credit Reporting Agency Data Breach Privacy/Cyber Risk & Data Security

State Issues

On March 21, the Florida governor signed HB 953, which prohibits credit reporting agencies from charging any fee to consumers or their representatives for “placing, removing, or temporarily lifting” security freezes on a credit report. Previously the state allowed for a fee of up to $10 to use the service. HB 953 still allows a consumer reporting agency to charge a fee of up to $10 for replacing or reissuing a personal identification number or password. The legislation is effective July 1.

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