Credit scores

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

Democrats Ritchie Torres and Gregory Meeks called on the New York Home Loan bank to follow the lead of its peers and use alternative credit scoring models for collateral to improve consumers' access to homeownership.

The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.

The guidance also underscores consumer rights to obtain access to their own information as well as identities of sources providing data.

Banks in Poland will be the first to start receiving and using the scores, which will allow Ukrainians fleeing their country to obtain credit in their new Polish homes.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

Letting consumers share their VantageScore data with crypto lenders is expected to help them get a better deal on crypto loans. 

The London bank is working with Nova Credit to accept immigrants' credit histories from their home countries. It also invested $10 million in the company.