FTC Seeks Comments on Credit Scoring
 
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FTC Seeks Comments on Credit Scoring

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 S. Richard
Executive Director
Institute of Consumer Financial Education
PO Box 34070
San Diego, CA 92163

619-239-1401

www.financial-education-icfe.org

Email Reply: info@icfe.org 

 

About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation).  The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. 
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, which is updated annually. The ICFE 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 was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org).  CASDRAP disbanded in 2010, shortly after the web site project was completed.  In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.

The ICFE is also an on-line help for consumers who spend too much.  ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org.  Both sites helps consumers and students 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 how to teach children about money. Other ICFE services include: Ask Mr. G,  a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.

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: www.financial-education-icfe.org 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 eNews, and an online resource center of financial education learning tools, including videos, books, software and personal finance courses.

 
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San Diego, Ca 92163
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Phone 619-239-1401

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