The Senate yesterday approved by a voice vote an amendment by Sen. Mark Udall (D-Colo.) to require that credit reports include the numerical score, which by the most common measure ranges from 300 to 850, the New York Times reported yesterday. Obtaining the actual score from the major credit reporting bureaus that calculate them typically costs up to $15.95 for each score. Udall?s proposal was one of several amendments addressed yesterday in the financial regulations bill, which may be wrapped up later this week. By voice vote, the Senate also approved an amendment to ease proposed restrictions that critics said would cut off angel investing, in which individual investors provide start-up capital to small businesses that typically do not have access to more traditional financing. The original bill included provisions intended to root out fraud, including a 120-day waiting period for certain investors to allow for a review by the Securities and Exchange Commission, but supporters of the amendment said the restrictions would block crucial start-up capital. The Senate also approved an amendment by Senator John D. Rockefeller IV (D-W.V.) that preserves the existing authority of the Federal Trade Commission in enforcing consumer protection laws and requires the commission to coordinate with a new consumer financial protection bureau that would be created by the regulatory legislation.
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