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CFO Jimmy Patronis: Florida Must End Credit Report Freeze Fee -Make it Easier for Data Breach Victims to Protect Themselves from Fraud-

11/29/2017

For Immediate Release: Wednesday, November 29, 2017
Contact: Anna Alexopoulos Farrar, 850.413.2842, Anna.Farrar@MyFloridaCFO.com

TALLAHASSSEE, Fla. – Chief Financial Officer (CFO) Jimmy Patronis announced today that he wants Florida to end all fees imposed to freeze credit reports, and remove requirements for data breach victims to submit investigatory paperwork to prove they were victimized in order to waive this fee. The recent major data breaches underscore the importance of eliminating the credit report fee. 

“Recent widespread data breaches at major companies have huge implications for our 20 million residents. Every Floridian should have the power to easily protect themselves and their families,” said CFO Jimmy Patronis. “No one should have to jump through hoops to prove their identity was compromised just to get a fee waived.”

This legislative session, CFO Patronis will work with Commissioner Adam Putnam to entirely remove the credit report freeze fee in Florida, under all circumstances.
 
“I applaud CFO Patronis for his leadership on this consumer protection initiative, which will eliminate the financial burden of placing a security freeze on credit reports. We must continue to do all we can to help protect consumers from fraud,” stated Commissioner of Agriculture Adam H. Putnam.

CFO Patronis stated, “There shouldn't be a fee, in any case, for credit report freezes. These fees serve one purpose: to generate more money for reporting agencies."

Florida law currently allows credit report agencies to charge a fee of up to $10 to freeze credit reports, and data breach victims are required to submit paperwork to prove their identity is in jeopardy just to avoid paying the fee. Four states (Indiana, South Carolina, Maine, North Carolina) already do not charge fees to freeze credit.

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About CFO Jimmy Patronis
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a native Floridian and a member of Florida’s Cabinet, who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).