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New consumer credit score rules a 'headache'

October 13, 2011Tess Nacelewicz

VIENNA, Va.—Strict new federal regulations governing how companies inform consumers that their credit scores were used to reject them will result in higher labor costs and other problems for alarm companies, said a legal advisor to the Central Station Alarm Association, which is based here.The new requirements took effect this summer, and are a part of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, a response to the economic recession. They essentially mean that security...

Consumer Financial Protection Bureau, Dodd-Frank Wall Street Reform and Consumer Protection Act, John Prendergast, Pinnacle Security, Sal Taillefer, Stuart Dean