FICO score/ CA residents

Discussion in 'Credit Talk' started by pat, Nov 19, 2000.

  1. pat

    pat Guest

    SB 1607, which would require CRAs to provide a FICO score to all CA residents with their credit reports passed both the State Assembly and Senate in Sept 00. The bill was sent to Gov. Gray Davis on 15 Sept, and he has neither signed nor vetoed it since. Any additional info??
     
  2. pat

    pat Guest

    more info

    The Governor approved the bill 30 Sept 00. It becomes law in California on 1 Jan 2001. Various subsections of Civil Code sec. 1785 will be ammended.
     
  3. molly

    molly Well-Known Member

    RE: more info

    Thanks for the info Pat, I live in CA.
     
  4. Michael

    Michael Guest

    SURE TO PISS OFF THE C.R.B.'s

    That's sure gonna piss off the C.R.B.'s that people can now learn there FICO scores!
     
  5. F.I.C.O no

    F.I.C.O no Guest

    RE: SURE TO PISS OFF THE C.R.B

    Yes that's great but i heard rumors that lenders are going to quit using F.I.C.O scores,and use a different software on creditworthness for their applicants.Now if that's the case then cailifornia wasted their tax dollars by getting the C.B's to give the score on a persons credit report.They really don't want us to know our creditworthness.Fair issaic may go out of business if thats is what is happening as far with lenders not using the F.I.C.O scoring system anymore.What do you think of that?
     
  6. Michael

    Michael Guest

    RE: SURE TO PISS OFF THE C.R.B

    The law will apply to whatever scoring meathod is used.

    If we now have a new score based on 500 being perfect call it the NEWCO Score, then the Newco score would show up rather than Fico.

    Eventually people will learn what score they have no matter what company is used. Now we need a law disclosing & explaining 100% how that score was determined!
     

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