September 27, 2017

North of Boston Editorial: Credit bureaus shouldn't need a mandate to drop fees

If you're old enough to read this sentence, odds are better than even that your personal information - including your name, birthdate, Social Security number and financial data - was exposed to hackers who accessed the Equifax database this past summer. Adding insult to injury, you'll now have to shuck out at least $10 in Massachusetts - double that in New Hampshire - to accomplish one of the most recommended steps you can take to protect yourself from fraud.

Andover state Sen. Barbara L'Italien is pushing a bill to force the major credit bureaus to drop that fee, which you face anytime you "freeze" or "thaw" your personal credit information, at least in Massachusetts. Sen. Elizabeth Warren has filed legislation to accomplish the same in every state. It's a worthy idea that shouldn't have to be inspired by a law or lawsuit.

It's the least the credit bureaus can do for consumers whose data are essential to their business.

Read the full editorial on the Gloucester Times website here.