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Credit Reports › Low-Income Issues

Goodwin

Traps for the Unwary: Using Alternative Credit Data to Expand Credit Access to LMI Individuals and Underrepresented Communities

Goodwin on

Traditional credit underwriting methods, which are generally based on credit reports, have not always successfully captured the full picture of a borrower’s ability to repay. It is estimated that more than 45 million US...more

Snell & Wilmer

The Credit Access and Inclusion Act Aims to Open Up Credit Availability to Low-Income and Minority Consumers

Snell & Wilmer on

On June 25, 2018, the House passed legislation known as the Credit Access and Inclusion Act of 2017, with bipartisan support (H.R. 5078). The bill is intended to allow low-income and minority Americans more access to credit...more

Ballard Spahr LLP

CFPB issues report on consumers transitioning out of credit invisibility

Ballard Spahr LLP on

The CFPB has issued a new report, “Data Point: Becoming Credit Visible,” that discusses how consumers transitioned out of “credit invisibility” and how such transitions differed across consumers of different ages and across...more

Ballard Spahr LLP

CFPB issues brief on consumers without credit histories or credit scores

Ballard Spahr LLP on

In May 2015, the CFPB issued a report, “Data Point: Credit Invisibles,” that documented the results of a research project undertaken by the CFPB to better understand the demographic characteristics of consumers without...more

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