Long Overdue Risk-Based Pricing Notice Proposal Out by Year-end
July 31, 2006
In case you’re wondering what became of an amendment to the Fair Credit Reporting Act that would require a risk-based pricing notice to borrowers who are offered a loan with less favorable terms, you’d probably be interested to know that a proposed rule is in the works. The Federal Trade Commission said it is planning to issue the proposal in December, two years after the agency and the Federal Reserve were supposed to have…