WHAT: Chris Larsen, CEO of E-LOAN (NASDAQ: EELN), an on-line consumer lending company providing mortgage, auto, credit card, home equity and business loans exclusively over the Internet, will testify at the House Banking Subcommittee on Financial Institutions. E-LOAN strongly supports legislation to allow consumers access to their credit score data along with all the factors and data that go into those scores at any time and as often as the consumer chooses.

WHY: As a staunchly pro-consumer company, E-LOAN began providing credit scores in February to its borrowers via its website before credit reporting agencies - under intense pressure from the creator of FICO scores, Fair, Isaac - urged an end to the practice. More than 25,000 borrowers logged onto the site to access their scores while the offer was available. Because credit scores have become so profoundly important in determining a consumer's participation in the credit markets, E-LOAN believes it is essential to show consumers their scores so they could better understand their credit prospects and better manage their finances. Due to E-LOAN's continued dedication to the consumer, Chris Larsen was also asked to testify in front of the California Senate to remove the secrecy surrounding credit scores. The legislation passed on September 5 and is awaiting signature by Governor Gray Davis.

WHEN: Thursday, September 21, 2000 10 a.m. EST

WHERE: Rayburn House Office Building, Room 2128

Published: September 22, 2000

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