Young people now have more protection from identity theft and fraud, thanks to a new federal law that went into effect September 21, 2018. The new law lets parents and child welfare representatives of people under 16, as well as legal guardians, request a security freeze, also called a credit freeze, on their behalf. Taking this step can help protect a young person from identity theft and fraud – and it’s free. 

The new law also lets people such as parents, guardians, and representatives acting on behalf of a young person in foster care proactively protect a young person’s credit file by freezing it.  

If the nationwide credit reporting agencies don’t have a file on the child, they will create one so they can freeze it. This record can’t be used for credit purposes. It’s there just to make sure the child’s record is frozen and protected against identity theft and fraud.

The article by the Consumer Financial Protection Bureau shares steps on how to help protect youth's financial security.