Credit scores

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.

Silvio Tavares, the credit score company’s relatively new leader, is honing its models to be more inclusive, for instance by taking into account rent payment data and bank account data. 

The credit reporting agency is trying to get a CFPB lawsuit dismissed by claiming the consumer bureau didn’t sign off on a 2017 consent order for the same violations.

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

The data from these transactions could help millions of borrowers with thin or nonexistent credit files. But how the credit reporting industry collects and treats the data may matter more than the data itself.

Americans with student loans are about to get a stark wake-up call on their borrowings as government relief programs phase out, according to a blog post by the Federal Reserve Bank of St. Louis.

Esusu, a financial technology company that aims to help bridge the racial wealth gap by reporting rent payments to credit agencies, has become one of only a few Black-owned startups to reach a valuation of $1 billion after closing a Series B round led by SoftBank Vision Fund 2.

The startup PointCard's new charge card ignores applicants' credit scores, instead weighing their cryptocurrency holdings and other investments to determine ability to repay.

The COVID-19 pandemic has exacerbated income inequality in America, and that has implications for banks and other lenders. Among those suffering most: renters, front-line workers and minority small-business owners.

The bank's earlier decision to stop accepting applications for the consumer loan product had sparked a backlash among customers and lawmakers.