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VantageScore will soon begin using “trended data” in its credit scores — a first among the major scoring models. The credit scoring firm this month rolled out VantageScore 4.0, a new update to its formula that will be released in…
The Consumer Financial Protection Bureau (CFPB) is weighing relaxing federal regulations to allow more lenders to consider nontraditional information when weighing a consumer’s creditworthiness. As part of its review, the CFPB is seeking public feedback on the benefits and risks…
Why would a consumer with a near-perfect FICO score get rejected for a credit card? An obscure consumer score that uses alternative data instead of traditional credit information could be to blame. Earlier this month, Los Angeles Times columnist David…
Missed your electricity bill last month? You can rest easy, for now. Most utility companies don’t report your payment data to the credit bureaus (unless, of course, you’re seriously late on a bill and it has been turned over to a collections agency). However, that could change if a bipartisan group of congressmen get their way.
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