Tag Archives: Consumer Financial Protection Bureau (CFPB)

CFPB Study Finds Credit Scores Can Differ

MATHEMATICIANOne Out of Five Consumers Likely to Receive Meaningfully Different Score Than Creditor

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) released a study comparing credit scores sold to creditors and those sold to consumers. The study found that about one out of five consumers would likely receive a meaningfully different score than would a lender.

“This study highlights the complexities consumers face in the credit scoring market,” said CFPB Director Richard Cordray. “When consumers buy a credit score, they should be aware that a lender may be using a very different score in making a credit decision.”

The complete Analysis of Differences between Consumer and Creditor-Purchased Credit Scores is available at http://files.consumerfinance.gov/f/201209_Analysis_Differences_Consumer_Credit.pdf

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