Fed Unveils Consumer Guide To Credit Scores Ahead Of New Rules
(Wall Street Journal) — The U.S. Federal Reserve unveiled an online consumers’ guide to credit scores and credit reports. The straight-forward guide includes the basics: What a credit score is, how it is used and why it is important to protect your credit history. But what is perhaps more significant is what that guide is meant to complement—new consumer-protection rules that Congress signed off on about seven years ago that are finally set to take effect in January. Much attention is being paid to the raft of new financial rules U.S. regulators are set to implement as part of the financial overhaul known as the Dodd-Frank Act, which was enacted earlier this year.