{"id":43975,"date":"2019-06-24T21:19:44","date_gmt":"2019-06-24T21:19:44","guid":{"rendered":"https:\/\/one.sightlinemg.com\/airforcetimes\/uncategorized\/2019\/06\/24\/heres-what-troops-need-to-know-about-new-rules-for-free-credit-monitoring\/"},"modified":"2026-08-08T07:49:09","modified_gmt":"2026-08-08T07:49:09","slug":"heres-what-troops-need-to-know-about-new-rules-for-free-credit-monitoring","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/airforcetimes\/management\/pay-benefits\/2019\/06\/24\/heres-what-troops-need-to-know-about-new-rules-for-free-credit-monitoring\/","title":{"rendered":"Here\u2019s what troops need to know about new rules for free credit monitoring"},"content":{"rendered":"\n

Starting in September, service members will be able to request free credit monitoring services from the nationwide credit reporting agencies<\/a>, under certain circumstances.<\/p>\n\n\n\n

These free credit monitoring services, often costing $30 or more a month, can help troops keep on top of their finances<\/a>, by warning them about new activity on their credit reports. With early detection, troops can then take steps to nip fraud<\/a> and other problems in the bud.<\/p>\n\n\n\n

However, there\u2019s a catch, under final rules of the Federal Trade Commission, to be published soon in the Federal Register. Because of the way the law is written, most of those who will be eligible for the free credit monitoring are those \u201cassigned to service away from the usual duty station of the consumer.\u201d That applies to active duty members and reservists on active duty under Title 10 orders.<\/p>\n\n\n\n

But National Guard members don\u2019t have to be deployed from their \u201cusual duty station\u201d in order to be eligible for the free credit monitoring, according to the FTC clarification. That\u2019s because Congress added National Guard members to the group of those entitled to get free credit monitoring, but didn\u2019t apply the requirement that a Guard member be away from his or her usual duty station. The FTC notes the apparent inequity.<\/p>\n\n\n\n

\u201cTo the extent that Congress intended to provide free credit monitoring more broadly, the [FTC] calls on Congress to address this issue through additional legislation,\u201d stated an FTC press release announcing the upcoming rule. The 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act gave the new benefit to service members.<\/p>\n\n\n\n

Defense officials earlier recommended that the FTC broaden the definition to be consistent with the definition of active duty in the military compensation law, which doesn\u2019t require a service member to be deployed away from the usual duty station, according to the FTC final rule.<\/p>\n\n\n\n

There\u2019s also an issue of credit reporting agencies\u2019 ability to determine who is qualified for the free service \u2013 especially when it comes to verifying deployments. So the FTC is encouraging the credit reporting agencies to \u201cerr on the side of providing the free service more broadly.\u201d To reduce the likelihood that an eligible military consumer is excluded, the FTC will consider a credit reporting agency to be in compliance with the law if it provides free electronic credit monitoring services to consumers who self-certify active duty status; consumers who self-certify they are a reservist on active duty under Title 10 orders; and those who self-certify they are member of the National Guard. It will be up to the credit reporting agencies as to whether they will give this benefit to more service members.<\/p>\n\n\n\n

The FTC\u2019s final rule includes a provision that the credit reporting agency\u2019s verification of active duty military status is valid for two years. After that, the credit reporting agency may require the consumer to provide additional proof.<\/p>\n\n\n\n

There\u2019s nothing in the FTC rule that requires a military consumer to notify the credit reporting agency when he or she returns to the duty station, according to FTC spokeswoman Juliana Gruenwald.<\/p>\n\n\n\n

The nationwide credit reporting bureaus \u2013 Equifax, Experian and TransUnion \u2013 are still working out the details of how service members can sign up for the free credit monitoring, according to the FTC.<\/p>\n\n\n\n

These services alert consumers about material additions or changes to their credit files, such as new accounts opened in your name; changes to address, name or phone number; changes to credit limits; changes to credit limits; and inquiries or requests for a consumer report, other than for pre-screening or account review.<\/p>\n\n\n\n

These credit files include information about where you live, whether you pay your bills on time and the amount of debt; whether you\u2019ve been sued or arrested; or filed for bankruptcy. The information is used to make decisions on whether to lend you money, whether to rent you an apartment, and, importantly for many in the military, it\u2019s used in security clearance determinations. And under new guidelines, officials are conducting continuous monitoring of financial records of those who have roles in national security, including service members.<\/p>\n\n\n\t