New Federal Law Requires Adverse Action Notices to Include Credit Scores

The federal Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires users of consumer reports, beginning on July 21, 2011, to also provide credit scores to prospective tenants if the score was used in taking adverse or unfavorable action against the tenant. Adverse action notices are provided to rental applicants who, after the tenant screening process, are denied or conditionally accepted (that is, subject to a cosigner or higher deposit) based on information in a consumer report.

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