Senate Takes Another Crack at Credit Scoring Legislation
July 30, 2001
Credit reporting agencies could not bar lenders from disclosing credit scores to consumers under bipartisan legislation reintroduced in the U.S. Senate. The "Consumer Credit Score Disclosure Act," which stalled last year, also would require lenders to disclose to consumers how the scores are created. Introduced by Sens. Charles Schumer, D-NY, and Wayne Allard, R-CO, the senate bill tracks California law requiring lenders to make mortgage credit scores available to consumers and to explain how they