News release: “Following a public comment period, the Federal Trade Commission and the Federal Reserve Board have announced final changes to the Risk-Based Pricing Rule to require creditors to disclose credit score information to consumers when a credit score is used in setting or adjusting credit terms. Risk-based pricing refers to the practice of setting or adjusting the price and other terms of credit provided to a particular consumer based on the consumer’s creditworthiness. Since January 1, 2011, the Rule has required creditors to provide consumers with a “risk-based pricing” notice when, based on the consumer’s credit report, the creditor provides credit to the consumer on less-favorable terms than it provides to other consumers. Consumers who receive the risk-based pricing notice can obtain a free credit report to check their report’s accuracy. As an alternative to providing a risk-based pricing notice, the Rule allows creditors to provide all credit applicants with a free credit score and information about their score.”