credit scores

Broader PPP forgiveness, Wells bumping its cap, 'no regrets' cost cutting: Top stories of the week


Big banks call for blanket forgiveness of PPP loans under $150,000; Wells Fargo struggling to stay under asset cap amid pandemic, CEO says; banks are getting aggressive — and creative — to boost profits; and more from this week's most-read stories.


Coronavirus still a threat to credit scores despite congressional relief


The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.


The coronavirus could force a full-blown crisis in credit scoring


Lawmakers are working to head off a wave of pandemic-related personal credit downgrades. But there are bigger problems with how credit risk is assessed that are harder to solve.


Alternative data could be lifeline for consumers needing credit


Congress should pass legislation authorizing use of nontraditional data sources to make credit more available to consumers who’ve taken a hit from the coronavirus pandemic.


'Nobody should have their credit scores dinged during this emergency'


Sherrod Brown, the top Democrat on the Senate Banking Committee, explains why consumer protection is so important as the coronavirus pandemic ravages the economy.


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.