To amend the Fair Credit Reporting Act to create protected credit reports for minors and protect the credit of minors, and for other purposes.

Summary: 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. 

SECTION 1. PROTECTIONS FOR CREDIT REPORTS OF MINORS.

    (a) In General.--The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.) is amended by inserting after section 605B the following new 
section:

``SEC. 605C. ADDITIONAL PROTECTIONS FOR CREDIT REPORTS OF MINOR 
              CONSUMERS.

    ``(a) In General.--A consumer reporting agency described in section 
603(p) shall, upon request by a covered guardian of a minor consumer, 
create a blocked file for the minor consumer or convert a file of the 
minor consumer already in existence to a blocked file.
    ``(b) Requirements.--The Bureau, by rule, shall establish 
procedures--
            ``(1) for a consumer reporting agency described in section 
        603(p) to properly identify the covered guardian and the minor 
        consumer prior to creating, converting, or unblocking a blocked 
        file for such minor consumer;
            ``(2) for such a consumer reporting agency to create a 
        blocked file for a minor consumer or to convert a file of a 
        minor consumer already in existence to a blocked file; and
            ``(3) consistent with subsection (c), for a covered 
        guardian to unblock a file.
    ``(c) Unblocking a File.--
            ``(1) In general.--A consumer reporting agency described in 
        section 603(p) shall unblock a blocked file upon request by a 
        covered guardian or on the date of the 18th birthday of the 
        minor consumer.
            ``(2) Alert statement.--An alert statement shall be 
        included in a file unblocked pursuant to paragraph (1) if the 
        minor consumer was a victim of fraud or identity theft before 
        the date of the 18th birthday of the minor consumer as follows:
                    ``(A) For a file unblocked upon request by a 
                covered guardian, for a period of time beginning on the 
                date such file is unblocked and ending on the date that 
                is 1 year after the date of the 18th birthday of the 
                minor consumer.
                    ``(B) For a file unblocked on the date of the 18th 
                birthday of the minor consumer, for a period of 1 year 
                after such date.
            ``(3) Duty of reseller.--With respect to information 
        concerning a consumer whose file contains an alert statement, a 
        reseller shall include such alert statement when furnishing 
        such information.
    ``(d) Fees.--
            ``(1) In general.--The Bureau shall determine if a fee may 
        be charged, and the amount of the fee charged, by a consumer 
        reporting agency described in section 603(p) to create, 
        convert, or unblock a file.
            ``(2) Fees prohibited.--A consumer reporting agency 
        described in section 603(p) may not charge a fee to a minor 
        consumer who was a victim of fraud or identity theft prior to 
        the date of the minor's 18th birthday, to create, convert, or 
        unblock a file.
    ``(e) Exceptions.--No provision of this section shall be construed 
as requiring a consumer reporting agency described in section 603(p) to 
prevent a Federal, State, or local law enforcement agency from 
accessing a blocked file.
    ``(f) Definitions.--In this section the following definitions shall 
apply:
            ``(1) Alert statement.--The term `alert statement' means a 
        statement that--
                    ``(A) notifies all prospective users of a consumer 
                report relating to the consumer that the consumer may 
                be a victim of fraud, including identity theft; and
                    ``(B) is presented in a manner that facilitates a 
                clear and conspicuous view of the statement described 
                in subparagraph (A) by any person requesting such 
                consumer report.
            ``(2) Blocked file.--The term `blocked file' means a file 
        of a minor consumer in which, pursuant to this section, a 
        consumer reporting agency--
                    ``(A) maintains a file with the name, social 
                security number, date of birth, and, if applicable, any 
                credit information of the minor consumer;
                    ``(B) may not provide any person with a consumer 
                report of the minor consumer; and
                    ``(C) blocks the input of any information into the 
                file, except with permission from a covered guardian of 
                the minor consumer.
            ``(3) Covered guardian.--The term `covered guardian' 
        means--
                    ``(A) the legal guardian of a minor child;
                    ``(B) the custodian of a minor child; or
                    ``(C) in the case of a child in foster care, the 
                State agency or Indian tribe or tribal organization 
                responsible for the child's foster care.
            ``(4) Minor consumer.--The term `minor consumer' means an 
        consumer who has not attained 18 years of age.''.
    (b) Table of Contents Amendment.--The table of contents of the Fair 
Credit Reporting Act (15 U.S.C. 1681 et seq.) is amended by inserting 
after the item related to section 605B the following new item:

``605C. Additional protections for credit reports of minor 
                            consumers.''.