CFPB Will Study Credit Scores to See If Lenders and Consumers See Same Reports
July 28, 2011
Consumers could be setting themselves up for problems in the credit market if they are getting credit information about themselves that differs from what lenders are looking at, according to a new report released by the Consumer Financial Protection Bureau. In a report to Congress, the agency said it plans to study the variations between credit scores sold to lenders and those sold to consumers to shed light on potential harm to the consumer. The most substantial harm would likely result if, after purchasing a score, a consumer has a different impression of his or her ...