Lobbyists say Credit Report Freeze a Bad Idea

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004984-lobbyists-say-credit-report-freeze-a-bad-/

By PÃ‰RALTE C. PAUL, Atlanta Journal-Constitution

Georgia legislators will hurt businesses and individuals if they pass a bill that would give consumers the option to lock their credit reports as a preventive step against identity theft, industry representatives said Wednesday.

Lobbyists for Atlanta-based Equifax Inc. and CheckFree Corp. argued against House Bill 966, which was drafted by Rep. Rob Teilhet (D-Smyrna), Wednesday at a House financial institutions subcommittee hearing.

Officials from Equifax, which has more than 220 million consumer credit files that contain Social Security numbers, loan histories and other private data, said the cost of implementation outweighs the benefits.

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