Amex is giving out FICO scores now in CLI denials

[mauve]

I was trying to source this the other day - can you provide a link?

[kjm79]

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@mauve wrote:

I was trying to source this the other day - can you provide a link?

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When googling this topic, you get mostly bank website hits regarding training for the amendments and changes in policies and procedures.  But here's a link.

http://communitybankers.org/education-training/date.php?696

[kjm79]

Here's a better link.  This one discusses the specific implementations.  And on page 2 it says:

"On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) was signed into law. Public Law 111–203, 124 Stat. 1376. Section 1100F of the Dodd-Frank Act amends section 615(a) of the FCRA to require creditors to disclose on FCRA adverse action notices a credit score used in taking any adverse

action and information relating to that score. The effective date of these amendments is July 21, 2011."

http://www.ots.treas.gov/_files/864801.pdf