credit scores

Lenders must learn from pandemic-related credit reporting issues


Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again.


Industry bristles at Biden proposal for public credit reporting agency


Banking and credit reporting groups say such an agency could politicize the reporting process. Consumer groups say it would offer consumers a necessary alternative.


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.