Amends the Fair Credit Reporting Act, with respect to protections for credit reports of minor consumers, to require a consumer reporting agency, upon request by the legal guardian or custodian of a minor consumer (including the state or tribal agency responsible for a child in foster care), to either create a blocked file for the minor or convert an already existing file to blocked status.
Directs the Consumer Financial Protection Bureau (CFPB) to: (1) establish implementing procedures, and (2) determine what fee, if any, may be charged by a consumer reporting agency to create, convert, or unblock a file.
Requires a consumer reporting agency to: (1) unblock a blocked file upon request by a guardian or on the minor's 18th birthday, and (2) include an alert statement in an unblocked file if the minor consumer was a victim of fraud or identity theft before that 18th birthday.
Requires a reseller who furnishes information concerning a consumer file containing an alert statement to include it when furnishing information.
Prohibits a consumer reporting agency from charging a fee to create, convert, or unblock the file of a consumer who was a victim of fraud or identity theft before his or her 18th birthday.
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