A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call.
Kristy Kim was an immigrant success story with a degree from Berkeley and a lucrative job — except her lack of credit history precluded her from getting a car loan. She started TomoCredit to help the many young folks who struggle to qualify for a credit card.
The Trump administration’s “public charge” rule would add credit reports to factors that could be used to deny legal residency, but critics say credit scoring was never intended for that purpose.
The Massachusetts Democrat is questioning a claim by the agency about the amount of redress available to those affected by the credit bureau's 2017 data breach.
The FBI is looking into whether Italy’s largest bank was also hacked; about 4.5 million people have already inquired about getting a cash settlement with the credit bureau.
A study by FinRegLab of six nonbank lenders' use of cash-flow data in underwriting decisions finds this type of "alternative data" helps predict loan performance.
Lawmakers who called for sweeping reforms after the massive breach are likely to scrutinize the settlement with regulators and continue to push for changes.
Legislation backed by Democrats to reform the credit bureaus and allow consumers greater access to their information advanced without any Republican support.
