Coops Affected by Dodd-Frank Federal Risk-Based Pricing Rule
Posted on Jul 12, 2011 in Legislative & Politics | Comments Off on Coops Affected by Dodd-Frank Federal Risk-Based Pricing Rule
As of July 21, a provision in the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act adds new disclosures to the federal risk-based pricing rule notices that creditors must provide. Coops will be subject to this rule if they use a consumer credit report — either a numeric score or a rating partially based on a score — in connection with an application for electric service or a coop-sponsored financing program. For more information about the disclosure requirements and upcoming deadlines, see this article on the ECT website.
