Lawmakers Consider Bill To Waive Fees To Freeze Credit Reports

CHICAGO (CBS) — In the wake of the Equifax security breach, Illinois lawmakers are considering a bill to make it less expensive for people affected to protect themselves. WBBM’s Jim Gudas reports.

Illinois Attorney General Lisa Madigan said one way for people, whose information was part of the Equifax security breach, to protect themselves is to freeze their credit reports.

But Madigan said that costs $10 per report and she does not think those affected should have to pay.

“I have asked Equifax to pay all of those fees because the main reason people are doing this right now is because of their breach and their information is going to be exposed,” Madigan said.

The Illinois House is considering a bill that would require credit reporting agencies such as Equifax, Transunion and Experian to waive the fees to freeze and un-freeze credit reports.

Madigan urges anyone affected by the Equifax security breach to go ahead and freeze their credit reports until they know they are ready to take out a loan or apply for a credit card.

Watch & Listen LIVE