Credit-Score Group Spent $1.6M Lobbying

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Associated Press

Credit-Score Group Spent $1.6M Lobbying

Associated Press 03.26.08, 1:09 PM ET WASHINGTON -

The trade group for credit-reporting agencies spent $1.6 million in 2007 to lobby on legislation related to mortgage reforms and anti-predatory lending, among other issues.

The Consumer Data Industry Association lobbied on proposed congressional measures, such as forcing mortgage lenders to get licenses and making them responsible for discovering whether borrowers can repay loans. It also lobbied on a measure to tighten regulation of Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ).

The nation's three major credit reporting agencies, Experian Americas, Equifax Inc. (nyse: EFX - news - people ) and Transunion LLC, are members of the trade group. Its 300 members include companies that provide mortgage reports, collection services, check services, tenant and employment screenings.

CDIA spent more than $1 million in the second half of 2007 to lobby Congress, the Federal Trade Commission and other agencies, according to a disclosure form posted online Feb. 13 by the Senate's public records office. The group also lobbied on personal data privacy and security legislation and cybercrime.

The group spent $520,000 in the first six months of 2007 to lobby on largely Social Security, Internet and other data protection issues.

Lobbyists are required to disclose activities that could influence members of the executive and legislative branches, under a federal law enacted in 1995.