Lowell Deeds

Today’s Globe reports that a bill that would allow individuals to lock their credit reports for free is pending before the state legislature. If enacted, this legislation would do much to protect citizens from identity theft by requiring credit reporting agencies to independently confirm with consumers that they have applied for new credit. Of course, this would inhibit the type of impulse purchases that have been driving our economy for the past five years. Because there is such a huge amount of money involved, lobbyists from the credit industry are undoubtedly working overtime to kill this bill. According to the Globe article, the chances of this bill even coming to a vote, never mind passing, is doubtful.