credit scores

CFPB clarifies credit reporting procedures in light of coronavirus


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


Why more issuers see profit in secured credit cards


Ally Financial's recently announced $2.65 billion cash-and-stock deal for CardWorks, which offers unsecured credit cards among other products, places a high price tag on a traditionally risky product.


U.S. charges four Chinese military members in Equifax hack


The four members of China’s People’s Liberation Army are accused of masterminding the breach that affected more than 140 million people.


Online lender Petal hires Kabbage’s chief risk officer


Kaustav Das was part of Kabbage’s effort to transform small-business lending by using new data analytics, and the CEO of Petal wants him to help it do the same in consumer credit cards.


House nears passage of bills to overhaul credit reporting


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.


FICO gets tougher on credit scores; Goldman pushes diversity


The changes will mean a bigger gap between the best and worst borrowers; the bank will require companies they take public to have a ‘diverse’ board member.


Alternative data is not the enemy of underwriting


Regulators are beginning to recognize the importance of using alternative data to provide credit for the underbanked. Now is the time to expand its use across the industry.


Machine learning’s promises, pitfalls


Testing shows an overreliance on machine learning data can unfairly harm credit scores.


Regulators ease hemp banking rules; alternative credit checks get the nod


Banks will not have to file reports on customers just because they're in the hemp business; making it easier for people with no credit history to get loans.


Experian offers help to borrowers; Goldman scouts Europe


The credit bureau will consider borrowers’ rental payment history and professional licenses; bank looks to build business on the other side of the Atlantic.