Circular
Federal Reserve Announces Online Publication on Rules about Credit Decisions and Notices
January 13, 2011
Circular No. 12276

Lenders often consider a consumer's credit history or credit score when deciding whether, and at what cost, to extend credit.  A new online Federal Reserve publication helps consumers better understand new notices they may receive from lenders when credit reports or credit scores affect a decision to grant credit.

The publication, What You Need To Know: New Rules about Credit Decisions and Notices, describes the types of notices consumer may receive and provides links to sample notices.  It includes information about what consumers should do if they receive a notice, including instructions on how to dispute credit report errors.

These notices are required by rules issued by the Federal Reserve Board and the Federal Trade Commission.

See press release for full details.

Press release offsite
What You Need To Know: New Rules about Credit Decisions and Notices offsite