ABA Expresses Concern about Using Alternative Data for Credit Scoring

Banks are generally open to the idea of using alternative data sources -- such as mobile phone bills and rent payments -- to help consumers establish a credit history, but concerns about compliance, data integrity and other risks stand in the way, ABA said today in a comment letter to the Consumer Financial Protection Bureau.

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HUD Seeks Industry Feedback on Regulatory Burden

Implementing the president’s executive orders on regulatory reform, the Department of Housing and Urban Development is seeking public and industry feedback on HUD regulations that may be outdated, ineffective or unnecessarily burdensome.

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House Republicans Press Yellen on CCAR Transparency, Efficiency

A group of House Republicans led by Reps. Blaine Luetkemeyer (Mo.) and Keith Rothfus (Pa.) today wrote to Federal Reserve Chairman Janet Yellen urging her to take action to increase the transparency and efficiency of the Fed’s Comprehensive Capital Analysis and Review process for bank holding companies with more than $50 billion in assets, including removing the qualitative assessment process for all CCAR banks.

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