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Announced Action for June 15, 2004
Request for public comments: The Commission 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 mortgages, auto loans,
credit cards, insurance, and other financial products. The
Fair and Accurate Credit Transactions Act (FACTA), which
was enacted in December 2003, directs the FTC and the
Federal Reserve Board, in cooperation with the Office of
Fair Housing at the Department of Housing and Urban
Development, to conduct the credit score study and also to
examine whether the use of any of these tools has
discriminatory impacts. The FTC is required to seek public
input on the “prescribed
methodology and research design” of the study. In a
Federal Register notice published today, the FTC lists
specific methodological questions to which commentors
should respond.
Comments can be sent via electronic mail to
FACTAscoringstudy@ftc.gov. Written comments should
refer to “FACTA Scores Study” on both the text and the
envelope, and should be mailed or delivered to: Federal
Trade Commission, Office of the Secretary, Room H-159 (Annex
N), 600 Pennsylvania Ave., N.W., Washington, DC 20580.
Comments containing confidential material must be filed in
paper form, with the first page of the document clearly
marked “Confidential.”
The FTC requests that any comment filed in paper form be
sent by courier or overnight service if possible because
U.S. postal mail in the Washington area and at the
Commission is subject to delay due to heightened security
precautions. Comments must be received by August 16, 2004.
The Commission vote authorizing publication of the Federal
Register notice was 5-0.
(FTC File No. P044804; the staff contact is Jesse B.
Leary, Bureau of Economics, 202-326-3480.)
For more information contact:
Paul Richard, RFC
Executive Director
Institute of Consumer Financial Education
PO Box 34070
San Diego, CA 92163
619-239-1401
www.icfe.info
Email Reply: icfe@cox.net
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About the ICFE:
About the
ICFE:
The Institute of Consumer Financial Education (ICFE), founded in 1982 by the
late Loren Dunton (creator of the “certified financial planner” (CFP)
designation) and it is dedicated to helping consumers of all ages to improve
their spending, increase savings and use credit more wisely. The ICFE trains and
certifies Personal Finance Instructors for its own curriculum. It also trains
and certifies Credit Report Reviewers and Identity Theft Prevention Specialists.
The ICFE is an award winning, nonprofit, consumer education organization that
has helped millions of people through its education programs and resources. It
publishes the Do-It-Yourself Credit File correction Guide, now in its 16th
printing and has distributed over one million “Credit/Debit Card Warning Labels”
and “Credit/Debit Card Sleeves” world wide.
The ICFE became an official partner with the Department of Defense/Financial
Readiness Campaign in June of 2004.
The ICFE is also a partner in the national Jump$tart Coalition for Financial
Literacy and the California Jump$tart chapter. The ICFE staff is also active
with San Diego Saves, an offshoot of America Saves, and the California Student
Debt Resource Awareness Project (CASDRAP) (studentdebthelp.org).
The ICFE’s on-line help for consumers who spend too much was featured in PARADE
Magazine in the Intelligence Report section. The money helps and tips are from
“The Money Instruction Book,” a course in personal finance, positioned to become
among the premier programs in the new bankruptcy and debtor education
initiatives.
The ICFE Web site at:
http://www.icfe.info helps consumers with mending spending, learning about
the proper use of credit, budget and expense guidelines, how to set up and
implement a spending-plan and also how to access financial education courses and
videos and how to teach children about money. Other ICFE services include a free
eNewsletter, and an online resource center of financial education learning
tools, including videos, books, software and personal finance courses.
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