Federal Trade Commission And Federal Reserve Board Issue Proposed Rules On Risk-Based Pricing Notices
The Federal Trade Commission and the Federal Reserve Board recently announced proposed regulations that generally would require a creditor to provide a consumer with a risk-based pricing notice when, based in whole or in part on the consumer's credit report, the creditor offers or provides credit to the consumer on material terms that are materially less favorable than the most favorable terms available to a substantial proportion of consumers from or through that creditor.
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