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Lenders to Provide Credit Scores to Denied Consumers
Loan rejections soon to come with explanation
July 25, 2011
By CLAUDIA BUCK The Sacramento Bee - McClatchy-Tribune Information Services
Consumers who apply and are rejected for the best available credit terms will now receive a copy of the credit score used by the lender in its decision to deny the application. Mortgage lenders were already subject to the requirement, but the Dodd-Frank Wall Street Reform and Consumer Protection Act expanded the requirement to all types of lenders.
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Distributed by McClatchy-Tribune Information Services.
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