As currently written, the bill would prohibit lenders to view consumer’s credit information in order to make pre-approved and pre-screened offers of credit, which lowers overall costs.
“Though AFSA shares the legislature’s goal of protecting Massachusetts citizens from the risks associated with a security breach, several provisions of the bill would impose significant new requirements that conflict with federal law and could raise the cost of credit in the state,” Matthew Kownacki, manager of state research and policy, wrote in the comment letter.
AFSA urged Governor Baker not to sign the bill and instead propose amendments and return the bill to the legislature. Full text of the letter is available in the Comment Letters area of the AFSA website.
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