Credit Reporting

Congress mulls further coronavirus relief for consumers

04/01/20

If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.

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CFPB clarifies credit reporting procedures in light of coronavirus

04/01/20

The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.

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Coronavirus response, ransomware, telecommuting trials: Top stories of the week

03/27/20

What banks need to know about the coronavirus stimulus package; tech vendor Finastra hit with ransomware attack; bank CIOs confront challenge of so many employees working at home; and more from this week's most-read stories.

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Dems' bid to pause negative credit reporting gets pushback from industry

03/23/20

Congressional Democrats want forceful action to prevent damage to millions of Americans' credit scores during the COVID-19 pandemic. But the credit bureaus argue that the tools needed to protect consumers are already in place.

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Cheat sheet: What's at stake for banks, customers in stimulus battle

03/23/20

Congressional proposals could expand Federal Reserve liquidity support, delay a new credit loss accounting standard, provide certain accounts with unlimited deposit insurance and more to help businesses and consumers reeling from the coronavirus outbreak.

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How Nova Credit caught the eye — and dollars — of A-listers

02/12/20

The fintech, which translates foreign credit reports to help immigrants get loans, says it has raised millions from venture capital firms and celebrities like Alex Rodriguez and U2's The Edge because its product addresses important economic and social needs.

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Credit reporting bill passes House but faces long odds in Senate

01/30/20

No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.

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House nears passage of bills to overhaul credit reporting

01/28/20

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

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Equifax to pay $380.5M to cover claims from 2017 breach

01/16/20

Under terms of the settlement approved by a Georgia court Monday, Equifax may also have to pay an additional $125 million if the initial amount doesn't cover all the claims.

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'Out of the shadows': Use of alternative data in lending gains ground

12/16/19

Financial regulators’ statement cautiously encouraging banks to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.

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