Credit reporting

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.

The plan identified five risk areas — including cybersecurity — that will be on the agenda for agency examiners next year.

The CFPB issued an interim final rule on Wednesday requiring that credit reporting agencies keep initial fraud alerts in a consumer’s file for at least a year.

Sen. Elizabeth Warren and Rep. Elijah Cummings have called for an update on probes into the credit reporting giant a year after its massive data breach came to light.

After news of the breach, congressional hearings for the company’s ex-CEO and other blowback were accompanied by legislative calls to action. But a year later, have policymakers done anything?

The number of consumers being pursued by debt-collection agencies fell dramatically in the past year, but it's as much technicality as achievement, and bankers need to keep that in mind when reviewing the credit scores of millions of Americans.

Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves.

The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.

Senators at a hearing Thursday discussed a bill establishing an online portal for consumers to monitor their credit reports free of cost.

The legislation, authored by Rep. Keith Ellison, D-Minn., is aimed at helping lower-income consumers build their credit histories.