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Over 70 Groups Encourage FHFA to Finish Review of Credit Scores, Regardless of S.2155's Expected Passage
Today, U.S. PIRG sent a letter to Federal Housing Finance Agency Director Mel Watt, ahead of his hearing before Congress this week. We were joined by 76 other organizations.
The start of our letter:
Dear Director Watt,
The undersigned 77 national and state-based organizations and leaders - representing businesses, communities, consumers, older Americans, servicemembers, and workers - write to encourage the Federal Housing Finance Agency to complete and announce as soon as possible the results from its ongoing review of credit scoring models used by the GSEs. There is no reason to delay the process or halt it because of the anticipated passage of S.2155.
Here is the rest of our letter.
You might recall our previous letter with 84 other groups we sent to all members of the House of Representatives late last month in opposition to S. 2155 and its credit bureau related problems, S. 2155, or as we and other advocates call it, the Bank Lobbyist Act passed the Senate in March and is expected for a vote in the House tomorrow.
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