Health & Fitness
Ensuring Our Children's Financial Future: Speaker's Briefing August 15, 2013
I’m State Representative Robin Vos and this is the Speaker’s Briefing.
Assembly Republicans are dedicated to ensuring Wisconsin’s children have the opportunity for a bright future. We’ve taken steps to protect their health and provide a great education, and now we want to help parents safeguard their children’s credit score and financial future.
Adults know to keep an eye on their own credit scores, but we rarely think about doing the same for our kids. In fact, children are an astonishing 35 times more likely to have their identity stolen than an adult. One in 40 American households has a child who has been victimized, and they often don’t find out about the theft until they are applying for colleges!
Rep. Jeff Stone has introduced legislation that will allow parents to freeze their child’s credit record until they turn 16. The bill also prohibits credit reporting agencies from releasing frozen information before that time.
Your credit score is used in everything from buying a car to getting financial aid in college to how much you pay for insurance. This common sense legislation provides protection that will make sure a child’s credit—and their future—is all theirs.
I look forward to it passing the legislature and becoming law.
