What are the three most important issues that the national strategy should address?
1. Credit reports and scores. Consumer education is needed so individuals understand the credit reporting industry and its relevance to their daily lives, especially concerning key life events, among them credit and banking accounts, auto and home loans, insurance, employment, and apartment rental. A July 2003 survey by the Consumer Federation of America found a high percentage of Americans did not understand credit reports and credit scores. The CFA found that low- and moderate-income individuals were particularly affected by a lack of knowledge. There is a crucial need for education on consumer rights, how to read a credit report, how to correct errors in credit reports, and how a credit score is determined. www.consumerfed.org/072803creditscores.html 2. Credit standing as a risk factor in significant life events such as employment. Few things are more central to a person’s financial well being than having a job. If a high percentage of Americans do not understand the credit industry
