Credit Freeze

What is it: A credit freeze/security freeze lets you stop the disclosure of your credit report by a credit bureau. Most but not all states offer credit freezes. Some credit agencies offer a credit freeze. As a result, neither you nor anyone else can open a new credit account in your name. A lender or merchant will normally not issue new credit if it cannot access your credit report or score. A credit freeze also prevents anyone from accessing you credit information, so if you actively seeking new employment, a loan, or insurance, you may want to wait until you have completed you search. You can unlock or "thaw" your security freeze temporarily, for a small fee, by using a PIN to unlock access to the credit file. This allows a rental agency or loan officer to check your credit. For more information: FTC Credit Freeze page.

How: Consumer’s Union has an excellent and frequently updated page on all current state freeze laws and requirements, with a link on how to opt out for each state and sample letters: http://www.consumersunion.org/campaigns/learn_more/003484indiv.html 

Bank/Financial Institutions

What are they: banks, credit card companies, brokerage firms, insurance companies, etc.

How: If you opt out, you limit the extent to which a financial institution can provide your personal financial information to non-affiliates. If you don’t opt out, the assumption is that the financial institution can share your data in some circumstances. A non-affiliate is generally defined as a company that is unrelated to your financial company. There is a great degree of variability between financial institutions. Some do not share customer information with non-affiliates, so they do not offer an opt out. Some take an extra step and offer customers the ability to opt out of both unaffiliated and affiliated marketing. Because the type of available opt outs vary from institution to institution, you will need to read the privacy notice closely. Financial institutions are required to provide privacy notices. These notices can sometimes be difficult to understand. The opt outs are controlled in part by the Gramm-Leach-Bliley Act, a federal law that provides some privacy protections for customers of financial institutions. You may have received a privacy notice in the mail from your bank or other financial institution, if not ask for a copy. The privacy notice may also be posted on the financial institution’s web site. Read the notice closely, and follow the company's directions for opting out. You can opt out at any time. By law, you are required to opt out in the way the financial institution determines you should, whether by letter or phone or online.

To opt out: check with an office of the institution you deal with or visit its web site.

For more about financial institution opt outs:  FDIC: Your Rights To Financial Privacy page, FTC: Privacy Choices for your Personal Financial Information, FDIC: Privacy Choices page, FDIC: Financial Privacy FAQ, Privacy Rights Clearinghouse: How to Read Opt Out Notices page.

Family Educational Rights and Privacy Act (FERPA) Opt out

What is it: The FERPA opt out stops schools from releasing student directory information, such as name, home address, and date of birth, without consent, with some limitations. While some parts of school records may be given out only with written consent, schools still have the right to give out what is called "directory information" without student consent, including potentially giving the information out over the phone. Directory information includes the student’s name, school and permanent address, school and permanent home telephone number, school mail box address, major, dates of attendance, degree(s) received and dates of conferral, and other personally identifying information. There is some variability; some schools also consider the weight and height of athletes, the school email address, and participation in officially recognized activities to be directory information.

If there is a FERPA opt out form on file for the student, the student can prevent the public disclosure of his or her directory information. Then, only legitimate employers or law enforcement professionals or others with a legitimate interest should be able to access that sensitive directory information. Victims of domestic violence may find filing a FERPA opt out to be crucial to them.  For more information: See U.S. Department of Education's FERPA site.

How: FERPA opt outs are often done with a FERPA form supplied by the school. Usually school records offices will have FERPA information for you, or will know where to send you to find that information. Colleges and some other schools may post the form online. For students under 18, parents have to sign the FERPA forms. This will limit how students' home address and other directory information can be released. If you search the web for “FERPA” plus the name of your school, you may find detailed information about how to file a FERPA opt out for your school available online. FERPA opt outs may also be called “Restriction of Directory Information” at some schools.

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