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Amex is giving out FICO scores now in CLI denials

Valued Contributor

Re: Amex is giving out FICO scores now in CLI denials

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


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Message 31 of 33
Valued Contributor

Re: Amex is giving out FICO scores now in CLI denials


@mauve wrote:

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


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

 

 


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 32 of 33
Valued Contributor

Re: Amex is giving out FICO scores now in CLI denials

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


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 33 of 33
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