Credit Reporting Bureau Offers 'Freeze' Option - InformationWeek

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Credit Reporting Bureau Offers 'Freeze' Option

Major credit reporting bureau to offer a 'freeze file' option to combat identity theft

AGAWAM, Mass. -- One of the fastest growing crimes in America is identity theft, the act of stealing someone's personal information to establish counterfeit credit accounts. Until now, consumers have had few allies to help defend themselves and their good credit, but help is on the way from TransUnion, one of the country's three major credit bureaus.

The so-called "freeze file" option, scheduled to be introduced by TransUnion this October, will allow consumers to restrict lenders from accessing their credit profile. The goal of the program is to provide protection to unwitting consumers if identity thieves attempt to establish credit in their name.

"Far too many victims have been claimed by identity thieves," according to Christopher Viale, president of Cambridge Credit Counseling Corp. "Beyond the laws that have already been enacted, we are happy to see TransUnion offer such a powerful tool to consumers."

Cambridge Credit Counseling Corp.

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