SACRAMENTO, CA – Today, the Assembly’s Banking and Finance Committee passed legislation by Assemblyman Mike Gatto (D-Los Angeles) and Assemblymember Jacqui Irwin (D-Thousand Oaks) to protect children from identity theft, by a 12-0 vote. AB 1580 will allow parents to freeze their children's credit with the three credit bureaus, to prevent identity thieves from opening fraudulent credit accounts and ruining credit scores.
“Children start out with a clean slate, which has made them the most sought-after target for cybercriminals.” said AB 1580 Co-Author and Cybersecurity Select Committee Chair Assemblymember Jacqui Irwin (D-Thousand Oaks).
Current law only allows parents to freeze a child’s credit only after the child has become a victim of identity fraud. However, since children don’t typically have financial accounts or check their FICO score, often the damage by fraudsters is not discovered until a child turns 18. Twenty-three states including, Idaho, Texas, and Maryland, have already successfully passed and implemented similar laws to AB 1580.
“California’s children are particularly vulnerable because cybercriminals know that fraudulent activity is likely to go unnoticed for many years. We need to equip parents with all the tools necessary to protect the financial livelihood of their children and so I urge my colleagues to support AB 1580.” said Irwin.
“It is time for California to protect its youngest citizens. This change is long overdue,” said Gatto.
Assemblymember Jacqui Irwin represents California’s 44th Assembly District, which includes the communities of Camarillo, Casa Conejo, Channel Islands Beach, El Rio, Lake Sherwood, Moorpark, Oak Park, Oxnard, Port Hueneme, Santa Rosa Valley, Thousand Oaks, and Westlake Village. http://asmdc.org/members/a44/
Mike Gatto is the Chairman of the Utilities & Commerce Committee and the longest-serving current member of the State Assembly. He represents California’s 43rd Assembly District, which includes Los Angeles, Glendale and Burbank. www.asm.ca.gov/gatto