credit scores

FHFA still eyeing 2019 for implementation of new credit score model

03/29/18

The annual progress report on the Fannie Mae and Freddie Mac conservatorships reiterated that a new credit score model will likely not be operational until after the implementation of a new Single Security Initiative.

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Include short-term loan repayment in credit scores

03/15/18

Use of alternative data in traditional credit scoring would help consumers access the banking system and lower their cost of credit.

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Former Equifax CIO Jun Ying accused of insider trading, DOJ says

03/14/18

A former senior executive at Equifax Inc. was criminally charged for allegedly selling almost $1 million worth of shares before the company’s announcement last year that it had suffered a massive data breach.

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Senate reg relief bill opens new front in credit-scoring battle

03/13/18

A late addition to regulatory relief legislation would direct the Federal Housing Finance Agency to review credit-scoring alternatives, but some say the provision is redundant.

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‘The AI body snatchers have already taken over’

02/22/18

Artificial intelligence is expected to bring financial services to millions, yet it could also make unethical decisions that unfairly deny credit and widen the divide between haves and have-nots, says Nicolas Economou of the nonprofit Future Society.

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FHFA extends comment period on credit scoring changes

02/02/18

The Federal Housing Finance Agency said Friday it will give commenters more time to weigh in on a potential update to the credit scoring requirements for Fannie Mae and Freddie Mac.

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Credit score changes would saddle banks with risk to help nonbanks

01/16/18

Housing regulators should not adopt an alternative credit scoring model until the banking industry is on board.

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'This guy lives in Fantasyland’: Comments of the week

01/12/18

Readers react to the Federal Housing Finance Agency considering changing its credit scoring policy, slam the possibility of enforcing mandatory penalties for data breaches at credit reporting agencies, weigh the possible nomination of a credit union regulator to the CFPB, and more.

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Could machine learning replace the credit score?

01/10/18

Petal has received a $13 million funding round from Valar Ventures, a New York-based venture capital fund that specializes in financial technology, to use artificial intelligence to fill holes in legacy risk vetting.

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FHFA should resist calls to weaken mortgage standards

01/08/18

The alternative credit scoring model VantageScore would not increase access to credit, says Joe Smith, the former monitor for the 2012 national mortgage settlement.

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