Thursday, July 28, 2011

New Credit Score Disclosure Rules... This is important.

The Federal Reserve Board as well as the Federal Trade Commission recently issued a new set of regulations intended to protect and give consumers the possibility to access to credit scores and related information issued by creditors.

Even though Financial Literacy must imply an easy way for consumers to learn what it means and what they need to know in order to protect them from possible abuses -particularly- from Credit Card Companies and Collection Agencies, it also imply the urgency to learn and get familiar what the exact information being disclosed given its benefits for their personal finances:

Federal Reserve Board: Equal Credit Opportunity - Regulation B

Federal Reserve Board: Fair Credit Reporting - Regulation V

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