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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.
February 25 -
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.
October 22 -
Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves.
July 30 -
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.
July 23 -
The legislation, authored by Rep. Keith Ellison, D-Minn., is aimed at helping lower-income consumers build their credit histories.
June 25 -
Credit reporting firms with significant operations in New York will face new cybersecurity and registration requirements to stave off concerns related to a breach of Equifax's systems last year.
June 25 -
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.
March 13 -
Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.
October 30 -
Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports.
October 17 -
The Equifax breach has millions of Americans now thinking about freezing their credit to guard against identity theft. But those who act could be cutting themselves off from the nation's vast credit economy.
September 19