NEW YORK - (03/15/06) The nation¹s three creditreporting bureaus have teamed up to create a new credit risk scorethey say will help cut through some of the confusion created by thevariety of scores currently available. Equifax, Experian andTransUnion all collaborated on the new system, called VantagaScoreas a way to bring a more consistent and easy-to-understand score tothe credit marketplace. The three companies are marketing the scoreseparately via licensing agreements with VantageScore, LLC, whichthe they all created to house the score. The companies said theyhope that another benefit of VantageScore is that it will be ableto provide a score for more thin-file consumers',those consumers who, due to lack of reportable credit history,often can't get a credit score and are, as a result, often shut outof the credit process.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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