In this age, information is power, and the Fair Credit Fair Disclosure Act gives that power to consumers by making credit scores available to them.
Credit scoring is the process that creditors use to predict economic risks.
By knowing the information contained in their credit score, consumers will be able to shop for the best financial services they can get. H.R. 2856, will help alleviate problems consumers face with banking institutions. The bill changes current law to ensure that consumers can obtain all information in the consumer's file at the time of the request, including any information concerning credit scores or any other risk scores or predictors relating to the consumer. By allowing consumers access to all their financial records, I hope that many such problems can be avoided.