Benedict applies for a credit card with a credit limit of $30,000. However, the issuing bank rejects his application because of his low credit score. While rejecting his application, the bank provides him with a free copy of his credit score. In this scenario, the bank is following the mandate of the _____.
A) Federal Credit Union Act
B) Dodd-Frank Act
C) Glass-Steagall Act
D) Credit Card Accountability, Responsibility and Disclosure Act

Question

Quizplus · Accepted Answer

The Dodd-Frank Act requires that consumers be provided with a free credit score if they are denied credit based on their credit score.

Benedict Applies for a Credit Card with a Credit Limit