by Congressman Dennis Kucinich
Washington, Oct 30, 2009
Congressman Dennis Kucinich (D-OH) sent a letter Comptroller of the Currency, Mr. John Dugan, requesting an investigation of the effect on consumer credit scores of some bank practices in advance of the enactment of the Credit Card Accountability Responsibility and Disclosure Act.
Consumer credit scores, originally developed to measure a consumer’s creditworthiness, have become much more influential in a consumer’s life. Credit scores are now used in writing insurance policies and even in determining employability. Kucinich is concerned that some practices, such as charging “inactivity fees” for unused credit, have the potential to damage consumer credit scores.