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San Diego, CA - 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 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 can be submitted electronically at :https://secure.commentworks.com/FTCCreditScoreStudy/.
Written comments should refer to “FACT Act 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 Z), 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 April 25, 2005. 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.)
Copies of the documents mentioned in this release are
available from the FTC’s Web site at
http://www.ftc.gov and
also from the FTC’s Consumer Response Center, Room 130,
600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call
toll-free: 1-877-FTC-HELP.
MEDIA CONTACT:
Office of Public Affairs
202-326-2180
(http://www.ftc.gov/opa/2005/01/fyi0513.htm)
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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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