credit scores

Credit Karma has agreed to buy a credit reporting company that TransUnion initially sought to develop as the fintech's British equivalent.

A new credit score that includes consumers' cash flow alongside their credit score is winning praise for its potential to help expand access to credit, but some worry it gives the credit bureaus even more data that could be compromised.

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.

The San Francisco challenger bank is adding 150,000 customers per month and plans to expand its financial product offerings.

A paper released by the agency’s Center for Financial Research says aspects of someone’s digital footprint — including whether they use Apple or Android — help predict likelihood of default.