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On April 21, 2015, the Fair Isaac Corporation (FICO) announced that millions of consumers will now be able to receive FICO credit scores and credit reports that non-profit credit counselors purchase on their behalf. Until now, counseling organizations have generally been prohibited by their contracts with the credit reporting agencies from giving the consumer the credit report or score that they have purchased on that consumer’s behalf. The Consumer Federal Protection Bureau (CFPB) urges the other credit reporting agencies to take steps to make this credit information available as well. Ending restrictions on sharing credit scores and reports by consumer financial counseling organizations will empower consumers to take more control of managing their credit and help counselors to do their jobs more effectively.
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