credit scores

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.

[more]

Why more issuers see profit in secured credit cards

02/21/20

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.

[more]

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

02/10/20

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

[more]

Online lender Petal hires Kabbage’s chief risk officer

02/04/20

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.

[more]

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.

[more]

FICO gets tougher on credit scores; Goldman pushes diversity

01/24/20

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.

[more]

Alternative data is not the enemy of underwriting

01/14/20

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.

[more]

Machine learning’s promises, pitfalls

12/12/19

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

[more]

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

12/04/19

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.

[more]

Experian offers help to borrowers; Goldman scouts Europe

11/07/19

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

[more]