Consumer Credit Score Disclosure Act of 2003

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D SchumerSponsor

1 cosponsor · 1 R

R Allard

0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

What it does: CRS summary · Introduced in Senate · Jul 8, 2003

Consumer Credit Score Disclosure Act of 2003 - Amends the Fair Credit Reporting Act to cite specified consumer credit scoring information that a consumer reporting agency must disclose upon consumer request in connection with an application for an extension of consumer credit secured by a dwelling, including a credit score: (1) derived from a model widely distributed to users of credit scores; or (2) that assists the consumer in understanding the credit scoring assessment of the consumer's credit behavior and predictions about future credit behavior.

Requires any person that makes or arranges extensions of consumer credit that are to be secured by a dwelling, and that uses credit scores for that purpose, to provide the consumer with a copy of: (1) the information obtained from a consumer reporting agency or that was developed and used by that user of the credit score information; or (2) a copy of the information provided to the user by a third party that developed the credit score, plus a general description of credit scores, their use, and the sources and kinds of data used to generate credit scores.

Declares void any contract provision that prohibits such mandated disclosures. Exempts from contractual liability any user of a credit score for making such a disclosure.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Consumer Credit Score Disclosure Act of 2003

Latest action (Jul 10, 2003): Star Print ordered on the bill.

Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 8, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.