Use your browser's find function to locate "scor" (which would return "score," "scores," "scored," and "scoring") in the law, and you'll find it in only one sentence:

"... (a) Information on file; sources; report recipients. Every consumer reporting agency shall, upon request, and subject to 610(a)(1) [§ 1681h], clearly and accurately disclose to the consumer:

(1) All information in the consumer's file at the time of the request, except that nothing in this paragraph shall be construed to require a consumer reporting agency to disclose to a consumer any information concerning credit scores or any other risk scores or predictors relating to the consumer..."

The Fair Credit Reporting Act - Information from the FTC



(The Code of Federal Regulations) 16 CFR Part 601 - Notices of Rights and Duties under the Fair Credit Reporting Act

"... The comment period closed on March 31, 1997. The Commission received 28 comments from credit bureaus and other CRAs, creditors (and other parties that make use of consumer reports and/or furnish information to CRAs), consumers and their representatives, regulatory authorities, and other interested parties. Although the Commission stated that it was requesting comments until March 31, 1997, comments received after that date were taken into account.

This document highlights the principal areas in which the Commission revised the proposed versions of the notices or decided not to do so... "

"... The sentence noting that a CRA is not required to include a "risk score" or "credit score" in disclosures to consumers of their credit histories. The Commission included the sentence in the proposed summary to try to answer a question that consumers would otherwise ask of CRAs. Upon review of the diverse comments,⁽²⁾ the Commission now believes that the reference would be more hindrance than help, and accordingly has deleted it... "

"... 2. This sentence in the second bullet ("You can find out what is in your file") was based on a clause specifically added to Section 609(a)(1). One comment from major creditors stated that the reference should be expanded to refer to "any information concerning" such scores "or other predictors." A more frequent view, offered by a major CRA, a trade association, and a federal regulatory agency stated that the section was unnecessary and would confuse rather than educate consumers..."



The Equal Credit Opportunity Act

• Equal Credit Opportunity; Proposed Rule - A search for "scor" produces 140 hits
• FEDERAL RESERVE BOARD'S REGULATION B, PART 202--EQUAL CREDIT OPPORTUNITY
• TITLE VII--EQUAL CREDIT OPPORTUNITY
• Equal Credit Opportunity

Legislative History

• California Legislates Credit Score Disclosures
  • Senator Liz Figueroa (D-Fremont), Chair of the Senate Committee on Business and Professions, announced today the introduction of SB 1607, the Consumer's "Right to Know" legislation... This bill is a national landmark. California's consumers will no longer be kept in the dark about key financial information they need when purchasing a home," said Figueroa. "Credit scores go right to the issue on whether a consumer gets the best, worst, or no loan... "

    "Credit scores affect how much consumers pay for a mortgage," noted Gail Hillebrand, staff attorney for Consumer's Union. "Consumers deserve to know how lenders are evaluating their loan applications."

  • "Consumers Union, the nonprofit publisher of Consumer Reports magazine, is pleased to co-sponsor your SB 1607. This important bill will help consumers to better understand their financial circumstances by entitling consumers to disclosure of their credit scores."
  • "SACRAMENTO (Feb. 22) - The California Association of REALTORS® today announced its sponsorship of Senator Liz Figueroa's Consumer's "Right to Know" legislation, which will provide California homebuyers with their financial credit scores, make it easier to shop for mortgages and better evaluate loan rates."
• Fair Credit Full Disclosure Act
  • H.R.2856, SPONSOR: Rep Cannon, Chris (introduced 09/14/99). A bill to amend the Fair Credit Reporting Act to require the disclosure of all information in a consumer's file, including credit scores, risk scores, and any other predictors.
  • Press Release: Cannon Introduces Fair Credit Full Disclosure Act
• Letter from Senator John McCain to the FTC: "I am concerned about the widespread use of credit scoring."
• Public Law 104-208, SHORT TITLE AS ENACTED: Consumer Credit Reporting Reform Act of 1996 [became law 9/30/96)
• FCRA: Legislative History
• H.R.561 (104th Congress)
• Committee Report - House Rpt. 104-863 - MAKING OMNIBUS CONSOLIDATED APPROPRIATIONS FOR FISCAL YEAR 1997, Associated Bill --H.R.3610
• Press Release - September 29, 1997, 1997 - BRYAN CREDIT REPORTING LAW TAKES EFFECT
  • U.S. Senator Bryan and Fannie Mae Launch Partnership Providing Free Home-Buyer Education Via Internet; Present Elko County Library with a New Computer