Released: June 06, 2007

What businesses don’t have to tell you

Source: David Lazarus, San Francisco Chronicle

At least we know where we stand: Insurance companies and other businesses can charge people higher rates because of their credit scores, but they don’t always have to let consumers know that they weren’t offered the best rate, even though federal law pretty much requires such notification.

That, in essence, is what the U.S. Supreme Court said in a ruling this week, reversing an earlier, more consumer-friendly opinion from the Ninth Circuit Court of Appeals in San Francisco.

“This means you can’t rely on the fact that you’re supposed to get notices to protect you,” said Scott Nelson, a senior attorney at Public Citizen, the Washington consumer-advocacy organization. “It’s up to you to go out and check your credit periodically.”

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