Credit

Federal Housing Finance Agency Director Bill Pulte should direct the agency to examine credit scoring models based on cash flow as a complement to existing systems.

The Columbus, Ohio-based regional bank also benefited from strong performances by several legacy business lines, including auto, mortgages and SBA lending.

Private mortgage insurers must accept the FICO alternative as valid collateral before it can be widely adopted by the mortgage industry.

A federal judge in Texas dismissed the Consumer Financial Protection Bureau's medical debt rule and prohibited states from passing their own laws prohibiting medical debt on credit reports.

The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.

An error in data submitted to the Consumer Financial Protection Bureau about consumers with no credit record — known as "credit invisibles" — has skewed the agency's reports, showing that the number of Americans without credit histories is half what it was thought to be.

Many young people begin their journey into adulthood without a solid grounding in the basics of personal finance. Banks and other financial institutions are in a unique position to provide that knowledge.

Although credit bureaus have collected this data for three years, it's only now being factored into assessments of consumer creditworthiness.

The credit bureau is working with Plaid to provide lenders with current and predictive cash-flow data for consumers that don't have an extensive credit record.