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
On February 29, FHFA announced updates related to the implementation of new credit score requirements for single-family loans acquired by Freddie Mac and Fannie Mae (GSEs). As previously covered by InfoBytes, FHFA released a...more
On July 7, Missouri Governor Mike Parson signed SB 103 into law, which prohibits any person from offering earned wage access (EWA) services without registering with the Division of Finance and paying an annual $1,000 fee. The...more
In this month's article, we share some of our top "bites" for the prior month covered during the February webinar....more
In Foster v. PNC Bank, National Association, the Seventh Circuit affirmed the dismissal of plaintiff’s Fair Credit Reporting Act (FCRA) claim, but determined that plaintiff lacked standing because he could not show that...more
The Federal Trade Commission’s recent action against Credit Karma serves as a reminder to advertisers that optimizing consumer conversion is not - and cannot be - the be-all and end-all. Regardless of what split or A/B...more
Last week, the Federal Trade Commission (FTC) announced that it agreed to settle claims against Dun & Bradstreet (D&B), a business credit reporting agency engaged in deceptive and unfair practices with small and mid-sized...more
Credit scores are important and frequently determine interest rates and can even impact insurance rates. For many years, judgment creditors could enforce their judgments in a variety of ways. Prior to 2017, judgment creditors...more
These are difficult times. Some parts of the economy have responded well to the pandemic crisis. Others, especially those in the travel, leisure, and entertainment industries have experienced enormous financial challenges. ...more
COVID-19- Defunct Travel Agency To Refund Travelers Who Paid Twice for Their Lodgings- Massachusetts AG Maura Healey reached a settlement with online travel agency BookIt Operating LLC d/b/a BookIt.com and its CEO...more
Three more bills dealing with credit reporting were passed on Tuesday by the House Financial Services Committee. Like the four bills passed by the Committee last week, none of the bills passed yesterday received any...more
Comcast has a policy in its Chicago region that permits a prospective customer to make a $50 deposit for internet service in lieu of a requirement to submit to a credit check. In Santangelo v. Comcast Corporation, 2018 WL...more