Lenders now required to provide consumers credit scores

WASHINGTON, D.C. — Effective July 21, lenders are required to disclose credit scores to consumers when they are used to set poor credit terms or when the lenders deny consumers access to credit altogether.

Colorado Sen. Mark Udall proposed the amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 to provide consumers free access to their credit scores, something that has never been available before.

“Your credit score is a vital sign of your personal financial health, and it impacts everything from qualifying for a loan to renting an apartment,” Udall said in a prepared…