experian

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.

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.

Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves.

Supporters say pending legislation would help consumers with little or no credit history. But the bill would instead roll back key consumer protections.

Some fear that the removal of such data from individual credit reports could lead lenders to believe a consumer is a better bet than they really are.