FTC Studies Credit Scoring Seeks Public Comment by April 25

February 18, 2005

The FTC is seeking public comment to aid staff in preparing a study on the effects of credit scores and credit-based insurance scores on the price and availability of various financial products and services. The Fair and Accurate Credit Transactions Act (FACTA), which was enacted in December 2003, directs the FTC and the Federal Reserve Board, in consultation with the Department of Housing and Urban Development, to conduct the credit score study and to examine whether the use of any of these tools has discriminatory impacts. The FTC is seeking information on any aspects of credit scores and credit-based insurance scores, including their use and how it has changed over time. Specific topics the FTC has asked commenters to address are listed in detail in the Federal Register notice. Comments due by April 25, 2005.