Sens. Mike Crapo (R-Idaho) and Sherrod Brown (D-Ohio) — the chairman and ranking member of the Senate Banking Committee, respectively — today asked for stakeholder feedback on how financial regulators and companies collect, use and protect sensitive consumer data.
Browsing: Credit reporting
The Federal Reserve and FDIC today issued an advisory on voluntary private education loan rehabilitation programs to alert banks to an amendment to the Fair Credit Reporting Act that was included in the S. 2155 regulatory reform law.
As directed by regulatory reform law S. 2155, the Federal Housing Finance Agency today issued a proposed rule to establish new requirements for the validation and approval of credit score models by Fannie Mae and Freddie Mac.
Experian, FICO and Finicity today announced a new credit score, called the UltraFICO score, as part of a bid to ensure that creditworthiness is better reflected through credit scoring.
As expected, the Federal Housing Finance Agency announced today that it will not issue a decision this year about updating the credit score models required by Fannie Mae and Freddie Mac.
A consumer’s most recent score is the most predictive, according to recent research.
…and more insights from ABA’s Compliance Center Inbox in the May/June issue of the ABA Banking Journal.
In comments to the Consumer Financial Protection Bureau today, ABA and the Consumer Bankers Association urged the CFPB to provide more guidance to banks on acceptable communications about credit scores and how they are used.
The Federal Housing Finance Agency today issued a long-awaited request for input on the credit scoring models required by Fannie Mae and Freddie Mac.
The Consumer Financial Protection Bureau is requesting information on consumers’ experience with access to free credit scores as well as information about the experience of companies and nonprofits that offer their customers and the general public free access to their credit scores.