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Tag Archives: alternative data

CFPB takes a closer look at alternative credit data

Kelly Dilworth

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…
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Card issuers using obscure credit scores to evaluate prime borrowers

Kelly Dilworth

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…
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Congress debates alternative credit data

Kelly Dilworth

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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