Credit Reporting

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.

The CFPB issued an interim final rule on Wednesday requiring that credit reporting agencies keep initial fraud alerts in a consumer’s file for at least a year.

Following news of the breach, congressional hearings for the company’s ex-CEO and other blowback were accompanied by legislative calls to action. But a year later, did policymakers do anything?

The number of consumers being pursued by debt-collection agencies fell dramatically in the past year, but it's as much technicality as achievement, and bankers need to keep that in mind when reviewing the credit scores of millions of Americans.

The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.