Lawsuit lenders can act as third-party financiers of lawsuits with a simple pitch: Need cash while you wait for the resolution of a lawsuit? Then call an 800-number that probably ends in CASH.
An episode of Planet Money made me think about freezing my credit and the urging of Jon Oliver on Sunday motivated me to act. Now two state legislators have introduced a bill that would prohibit credit reporting companies from charging me for this safety measure.
Assemblyman Jeffrey Dinowitz and Sen. David Carcucci recently crafted legislation that requires hacked credit reporting agencies to provide lifetime identify theft prevention services and prohibits fees relating to the implementation of security freezes on consumer credit reports. If enacted, the companies would be required to tell affected consumers about these rights. Continue reading “No Fees for Consumer Protection”