credit scores

'Good luck with legislating innovation': Comments of the week


Readers respond to JPMorgan's Twitter gaffe, weigh the role banks should play on issues like climate change, consider the impact of artificial intelligence on fair lending and more.


House Democrat moves goalposts for GSE reform


Rep. Gregory Meeks of New York signaled which legislative provisions Democratic leaders would accept in a bipartisan housing finance package.


Equifax, FICO join forces to give banks one-stop analytics product


The new cloud-based solution is intended to help financial institutions make quicker credit decisions by integrating consumers’ histories with advanced software.


Lower FICOs, higher DTIs prompt a change in FHA loan underwriting


The Federal Housing Administration is returning to manual reviews of higher-risk loans it insures because it's finding that a growing share have lower credit scores, higher debt-to-income ratios, or both.


TransUnion innovation lab expanding to Canada, India


The lab works with more than 200 data scientists to create access to affordable credit and help financial firms match products to customers, the company says.


Bills to reform credit bureaus unveiled on eve of hearing


Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.


FHFA would ban VantageScore from Fannie Mae, Freddie Mac credit scores


The Federal Housing Finance Agency has proposed barring Fannie Mae and Freddie Mac from using credit scores developed by VantageScore over concern about conflicts of interest with the joint venture of Equifax, Experian and TransUnion.


CFPB orders State Farm Bank to improve credit reporting practices


The banking subsidiary of the Bloomington, Ill., insurer must stop providing inaccurate information to the credit bureaus under a consent order.


A fintech’s bait for banking’s big fish


Self Lender is launching a secured credit card next year in the hopes of attracting big-bank partners that can use it to comply with the Community Reinvestment Act.


Fintech startup tries to help consumers fix credit report errors


Upturn, which is owned by a BBVA unit, is offering a free online tool consumers can use to detect and dispute inaccuracies in their credit report.