Credit

The Tennessee company has set up a $3.5 million reserve associated with the unnamed borrower.

Rep. Gregory Meeks of New York signaled which legislative provisions Democratic leaders would accept in a bipartisan housing finance package.

Some fintechs have figured out how to provide international students and immigrants with credit cards and loans. Machine learning makes the underwriting possible.

The new cloud-based solution is intended to help financial institutions make quicker credit decisions by integrating consumers’ histories with advanced software.

The watchdog’s report — requested by Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md. — called for civil money penalty authority and better supervision to guard consumer data.

Although slow to catch up, issuing banks are well placed within the payments ecosystem to capitalize on short-term credit provision — in fact, they can be the biggest winners, argues Mehmet Sezgin, CEO and founder of myGini.

As part of a settlement with the National Fair Housing Alliance and the American Civil Liberties Union, the social media platform will no longer allow certain advertisers to target users by age, gender or ZIP code.

First-term Rep. Rashida Tlaib, D-Mich., has sponsored the Prevent Discrimination in Auto Insurance Act in order to prevent “undue burden” on low-income individuals seeking auto insurance.

The Federal Housing Administration is returning to manual reviews of higher-risk loans it insures because it's finding that a growing share have lower credit scores, higher debt-to-income ratios, or both.

The lab works with more than 200 data scientists to create access to affordable credit and help financial firms match products to customers, the company says.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.

The Senate Banking Committee will likely vote on Todd Harper and Rodney Hood's nominations to the federal regulator, while lawmakers hold hearings on a host of credit union priorities.

Recent data from the Federal Reserve suggests lenders are growing pessimistic about the credit environment. But is that a sign of trouble ahead, or just sound risk management?

The top Republican and Democrat on the Senate Banking Committee are asking for stakeholders to weigh in on data collection issues as lawmakers consider legislative responses to recent breaches.

As another possible shutdown looms, concerns about furloughed workers’ credit histories have shifted the reform discussion away from data security.

The House Financial Services Committee will hold a hearing Feb. 26 on "holding credit bureaus accountable" — one of seven hearings scheduled by the panel for the month.

The U.S. car rental industry has frustrated many young adults for years with special restrictions and credit checks for customers under who try to pay with a debit card. But big data is bringing some relief.

Young consumers don't have long credit records, but they do make lots of recurring payments that can feed credit risk decisioning, according to Barrett Burns, president and CEO of VantageScore Solutions.