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Bill

S 1322

Requires consumer reporting agencies to provide a consumer with a free credit report three times during any 12-month period upon request.

2026-2027 Regular Session Introduced by Joe Pennacchio

New Jersey bill requires credit bureaus to issue three free credit reports annually per consumer instead of one, enhancing fraud detection capabilities.

Reported from Senate Committee, 2nd Reading
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WeVote Research Nonpartisan
Bill Summary · S 1322

Legislative bill overview

S 1322 would require consumer reporting agencies operating in New Jersey to provide consumers with three free credit reports per 12-month period upon request, in addition to existing federal requirements. Currently, federal law (Fair Credit Reporting Act) guarantees one free annual credit report per agency. This bill would triple that allowance at the state level.

Why is this important

Credit monitoring is a key tool for detecting identity theft and fraud early, which can save consumers thousands in damages and recovery costs. More frequent access to credit reports enables consumers to catch errors or unauthorized accounts faster and dispute them before they cause significant financial harm.

Potential points of contention

  • Compliance costs: Consumer reporting agencies may argue that providing three times more free reports increases operational expenses, potentially leading to higher fees elsewhere or reduced services
  • Redundancy with federal law: Critics may contend this duplicates federal protections and question whether state-level mandates are necessary when federal standards already apply
  • Definition gaps: The bill's current language may lack clarity on which "consumer reporting agencies" are covered (credit bureaus only, or specialty agencies too?) and how "upon request" mechanisms would function technically

Compiled from official sources — confirm details with the bill’s official record.

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