There are more than 50 million Americans without a traditional credit score and 80 million unbanked and under-banked individuals in the United States. These individuals, more often than not, do not have access to traditional credit products. We recently attended the Money2020 conference in Las Vegas, where the Consumer Financial Protection Bureau released a report encouraging the use of non-traditional information and methods to enable better credit scoring and analysis for this large group. We applaud their efforts. The CFPB launched Project Catalyst in 2012 to promote consumer-friendly innovation. Since its creation, the agency has collaborated with several FinTech…
Nov 17, 2016
CFPB’s Future & Impact on Alternative Credit Scoring
Fintech, In the News, Trends, Uncategorized 0 Comments