Posted: May 21, 2010 10:16 AM by Bea Karnes, News First 5
Updated: May 21, 2010 10:16 AM
Sen. Mark Udall's office announced that he voted for the Wall Street overhaul bill meant to prevent future financial meltdowns. The bill included Sen. Udall's amendment to give consumers free access to their credit score if they are denied a loan, or insurance, or are given a higher interest rate because of that score.
The full bill must now be reconciled with the version that passed in the U.S. House of Representatives before it can be signed by the President.
“I’m very pleased that the bill includes my credit score amendment, which is going to help arm consumers with the information they need to take control of their own financial health. But we’re not done yet. I’m going to work to make sure it’s included in the final bill that goes to the President’s desk,” Senator Udall said. “If you are turned down for a loan – or for a home – because of your credit score, you shouldn’t have to turn around and pay for the information that was used against you. And with this change in the law, thousands more hardworking Americans would be able to get that information for free – at the time it matters most.”