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Congresswoman Joyce Beatty

Representing the 3rd District of Ohio

Beatty Introduces Bill to Provide Free Credit Scores

Apr 26, 2016
Press Release

Beatty Introduces Bill to Provide Free Credit Scores

Legislation will give consumers free access to their credit scores

 WASHINGTON, D.C. – Today, U.S. Congresswoman Joyce Beatty (OH-03) introduced the Free Credit Score Act of 2016. If enacted, the bill would provide consumers their credit scores for free, as calculated by the three major credit reporting agencies (Experian, Equifax, and TransUnion).

“Nearly 60 percent of U.S. adults are unaware of their credit score. This has to change,” Beatty said. “My straightforward bill will have a profound impact on countless hardworking American families. From getting a home or auto loan, to applying for a credit card or a line of credit, or even looking for a job, a credit score affects many of the financial decisions we make.”

Under current law, the Fair Credit Reporting Act gives consumers the right to request their credit report on an annual basis from the three nationwide consumer credit reporting agencies free-of-charge. Included in this report, is an organized list of information in an individual’s credit file. Despite providing consumers with all of the information that makes up their credit score, free annual reports do not actually include a credit score.

Beatty continued, “As our nation recognizes Financial Literacy Month, I ask my colleagues in Congress to join me in helping to put more people on the path toward a more informed financial future by supporting the Free Credit Score Act.”   

The Free Credit Score Act of 2016 has 23 cosponsors and is pending consideration by the House Committee on Financial Services.     

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