News Topic: credit

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

Bank regulators are considering a bypass to the 2015 court ruling governing loan sales that would ultimately offer more credit options to entrepreneurs. ... Read full article

The New York Department of Financial Services is opening a probe into Goldman Sachs' credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card's algorithms. ... Read full article

MoneyLion and Varo say familiarity with existing customers — whom they already offer savings, investment and personal finance products — will help them make smart credit decisions. ... Read full article

Though the use of alternative data in lending is seen by some as untested, several fintechs say they couldn't function without it. ... Read full article

In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs. ... Read full article

Some fintechs have figured out how to provide international students and immigrants with credit cards and loans. Machine learning makes the underwriting possible. ... Read full article

As part of a settlement with the National Fair Housing Alliance and the American Civil Liberties Union, the social media platform will no longer allow certain advertisers to target users by age, gender or ZIP code. ... Read full article

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

Turnover of chief risk officers is on the rise as CEOs look to add executives whose experience goes far beyond assessing credit risk. Sometimes they are promoting from within, but often they are poaching talent from rival banks. ... Read full article

The New York company on Friday promoted Wahida Plummer, who was previously in charge of regulatory matters, to chief risk officer and expanded the role of its chief credit officer. ... Read full article

For many newcomers to the U.S., establishing credit is a big challenge. A handful of entrepreneurs are developing tools to help verify their financial histories. ... Read full article

The New York company, which offers loans and provides personal finance advice, plans to expand its product line and invest in new technology with the funds. ... Read full article

Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior. ... Read full article

The five-year-old company is offering lines of credit to early-stage consumer brands, which can often only get financing at high interest rates. ... Read full article

Synchrony Financial and Alliance Data Systems are particularly vulnerable to recent shifts in Americans’ shopping habits, according to new research from Moody’s Investors Service. ... Read full article

The HUD secretary said millennials are being shut out of the market but the purchase of a condominium unit is often the first step to homeownership. ... Read full article

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