PETITION OF:

SECTION 1. Chapter 93 Section 56(a) of the General Laws is hereby amended by adding the following subsections:-

(4) any information concerning credit scores or any other risk scores or predictors relating to the consumer together with a clear and concise summary of how the scores and predictors are derived, the range of possible scores under the model used, the factors taken into account in deriving a score or predictor, how such factors are applied to the consumer, the relative weight given to each factor, and the manner and extent to which such factors raise or lower the score or predictor; in complying with this section, a consumer reporting agency shall supply to the consumer a credit score that is widely distributed to users of credit scores by that consumer reporting agency, or a credit score that assists the consumer in understanding the credit scoring assessment of credit behavior of the consumer and predictions about future credit behavior.

(5) nothing in Subsection (4) may be construed to compel a consumer reporting agency to maintain credit scores in its files, or to develop or disclose a credit score if the agency does not distribute scores that are used in connection with extensions of credit, or develop credit scores that assist creditors in understanding the general credit behavior of the consumer and predicting future credit.

SECTION 2. Chapter 93 Section 56 of the General Laws is hereby amended by inserting after “Each calendar year you are entitled to receive, upon request, one free consumer credit report” in lines 44 to 45 the followimg:-

You have a right to obtain a copy of your credit score, accompanied by explanatory information, from a consumer reporting agency. You may be charged a reasonable fee not exceeding eight dollars. There is no fee, however, if you have been turned down for credit, employment, insurance, or rental dwelling based in part on your credit score within the preceding sixty days. The consumer reporting agency must provide someone to explain your credit score, how credit scores are prepared, and the key factors that have affected your scores. Each calendar year you are entitled to receive, upon request, one free copy of your credit score and explanatory information.

SECTION 3. Chapter 93 of the General Laws is hereby amended by adding the following section:-

Section 57. (a) Any person that makes or arranges extensions of credit for consumer purposes and uses credit scores for such arrangements shall be required to provide to the consumer to whom the credit score relates a copy of the information described in Section 56(a)(4) that was obtained from a consumer reporting agency or that was developed by the user of the credit score information; if the user of the credit score information obtained such information from a third party that developed such information, the user shall provide a copy of the information described in Section 56 subsection (4) provided to the user by the person or entity that developed the credit score and a notice that generally describes credit scores, their use, and the sources and kinds of data used to generate credit scores.

(b) Nothing in this section may be construed to require the user of a credit score described in subsection (a) to explain to the consumer the information provided pursuant to Section 56(a)(4) unless that information was developed by the user, or to provide more than one disclosure under this Section to any one consumer per credit transaction.

(c) Except as otherwise provided in this section, the obligation of a user of a credit score under this subsection shall be limited to providing a copy of the information that was received from the consumer reporting agency or other person; a user of a credit score has no liability under this Section for the content of credit score information received from a consumer reporting agency or for the omission of any information within the report provided by the consumer reporting agency

(d) Any provision of any contract that prohibits the disclosure of the information described in Section 56(a)(4) by a consumer reporting agency or a person who makes or arranges extensions of credit to the consumer to whom the credit score relates is void; a user of a credit score shall not be liable under any such contractual provision for disclosure of such information.