CFPB Study Finds Mixed Results for ‘Credit-Builder’ Loans
The Consumer Financial Protection Bureau today released a study of the effects of so-called credit-builder loans on credit scores.
Browsing: Credit scoring
Walking ‘In Someone Else’s Shoes’
Santander Bank is helping to bring awareness to domestic abuse. In particular, the bank is helping victims to overcome two daunting obstacles that can often prevent victims from leaving an abusive situation: learning about finances and establishing their own credit history.
Fannie, Freddie Solicit Credit Score Model Developers
Fannie Mae and Freddie Mac have published a joint solicitation seeking applications from credit score model developers, FHFA announced today.
FHFA Finalizes New Requirements for Validating, Approving Credit Score Models
As expected, the Federal Housing Financial Agency issued a final rule—as directed by the S. 2155 regulatory reform law—establishing new requirements for the validation and approval of credit score models by Fannie Mae and Freddie Mac.
How Does Missing Consumer Data Hurt Your Business?
Liens and judgments aren’t reflected in credit scores, but customers who have them pose increased credit risk.
My Bank Received a Subpoena For Customer Records—How Do I Respond?
…and more insights from ABA’s Regulatory Compliance and Policy Inbox in the next issue of the ABA Banking Journal.