Schumer seeks credit bureau score probe
Sen. Charles Schumer is asking the Federal Trade Commission to investigate new scores compiled by credit bureaus with personal information that's not disclosed to consumers the same way credit scores are.
In a letter to FTC Chairman Jon Leibowitz, Schumer (D-N.Y.) asks he examine "the proliferation" of reports sold to outside businesses for marketing and business decisions.
His office cites Fair Isaac Corp. reports on prescription drug use and Experian's estimates of consumer incomes as examples. Experian said it hasn't seen the letter. Fair Isaac said it is not a credit bureau and its medication adherence score helps practitioners see patient compliance.
Schumer said federal law requires telling people their credit scores, which are used by lenders. He said he'll craft new legislation, if needed. -- AP
'I've never seen fire sitting on the water' Three Newsday photographers talk to NewsdayTV's Macy Egeland about covering the tragic crash of TWA Flight 800 in 1996.
'I've never seen fire sitting on the water' Three Newsday photographers talk to NewsdayTV's Macy Egeland about covering the tragic crash of TWA Flight 800 in 1996.
