New Rule Requires Lenders to Provide Credit Scores to Consumers

Starting today, lenders who deny a borrower credit or offer a higher-than-normal interest rate are required to show the borrower his credit score. The new rule is part of an amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act that passed exactly one year ago. Introduced by Sen. Mark Udall, D-Colo., it requires creditors to provide additional information in adverse action notices if a credit score was used in making a credit decision. Udall said the credit scores to...Full Story
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