Credit scores

The annual progress report on the Fannie Mae and Freddie Mac conservatorships reiterated that a new credit score model will likely not be operational until after the implementation of a new Single Security Initiative.

A former senior executive at Equifax Inc. was criminally charged for allegedly selling almost $1 million worth of shares before the company’s announcement last year that it had suffered a massive data breach.

A late addition to regulatory relief legislation would direct the Federal Housing Finance Agency to review credit-scoring alternatives, but some say the provision is redundant.

Artificial intelligence is expected to bring financial services to millions, yet it could also make unethical decisions that unfairly deny credit and widen the divide between haves and have-nots, says Nicolas Economou of the nonprofit Future Society.

The Federal Housing Finance Agency said Friday it will give commenters more time to weigh in on a potential update to the credit scoring requirements for Fannie Mae and Freddie Mac.

Readers react to the Federal Housing Finance Agency considering changing its credit scoring policy, slam the possibility of enforcing mandatory penalties for data breaches at credit reporting agencies, weigh the possible nomination of a credit union regulator to the CFPB, and more.

Petal has received a $13 million funding round from Valar Ventures, a New York-based venture capital fund that specializes in financial technology, to use artificial intelligence to fill holes in legacy risk vetting.

The people-helping-people model proffered by LendingClub and others quickly foundered, but several startups aim to bring it back with the help of distributed ledger technology.