Number: RS21298
Title: Credit Scores: Development, Use, and Policy Issues
Authors: Pauline H. Smale, Government and Finance Division 
Abstract: The use of credit scores has streamlined the decision-making process of the lender which can result in more rapid access to credit for the consumer. At the same time, pervasive use of credit scoring has raised concerns about consumer awareness of and access to credit scores as well as the consistency and accuracy of scoring systems. This report gives background on the concept of credit scoring and the issues raised by the pervasive use of credit scores. An overview of current legislative proposals is also provided.
Pages: 6
Date: June 4, 2004