German Federal Court Rules Schufa Must Disclose Credit Scores to Consumers

Germany's Federal Court of Justice (BGH) ruled that Schufa, the country's dominant credit bureau, must inform consumers of their credit score when a credit check leads to a denied loan or contract. This is a first-time legal clarification on consumer rights to access scoring data, potentially setting a precedent for transparency in automated credit decisions. The ruling's impact on Schufa's business model and broader financial services remains to be seen.

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