Sen. Udall proposes changes to credit reporting

05/18/2010 | New York Times (tiered subscription model), The

The Senate adopted an amendment to regulatory-reform legislation that would require credit reports to include the numerical score that lenders use to make decisions. Consumers are currently allowed to obtain free credit reports at regular intervals but usually have to pay a surcharge to see their credit score, which ranges from 300 to 850. "This I believe will empower consumers, it will increase the financial literacy in our country," said Sen. Mark Udall, D-Colo., who sponsored the amendment.

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