Announced Action for June 15, 2004

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Request for public comments: The Commission is seeking public comment to aid staff in preparing a study on the effects of credit scores and credit-based insurance scores on the price and availability of mortgages, auto loans, credit cards, insurance, and other financial products. The Fair and Accurate Credit Transactions Act (FACTA), which was enacted in December 2003, directs the FTC and the Federal Reserve Board, in cooperation with the Office of Fair Housing at the Department of Housing and Urban Development, to conduct the credit score study and also to examine whether the use of any of these tools has discriminatory impacts. The FTC is required to seek public input on the “prescribed methodology and research design” of the study. In a Federal Register notice published today, the FTC lists specific methodological questions to which commentors should respond.

Comments can be sent via electronic mail to Written comments should refer to “FACTA Scores Study” on both the text and the envelope, and should be mailed or delivered to: Federal Trade Commission, Office of the Secretary, Room H-159 (Annex N), 600 Pennsylvania Ave., N.W., Washington, DC 20580. Comments containing confidential material must be filed in paper form, with the first page of the document clearly marked “Confidential.” The FTC requests that any comment filed in paper form be sent by courier or overnight service if possible because U.S. postal mail in the Washington area and at the Commission is subject to delay due to heightened security precautions. Comments must be received by August 16, 2004. The Commission vote authorizing publication of the Federal Register notice was 5-0. (FTC File No. P044804; the staff contact is Jesse B. Leary, Bureau of Economics, 202-326-3480.)

Copies of the documents mentioned in this release are available from the FTC’s Web site at and also from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.

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