News & Analysis as of

Credit Scores Credit Reports

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

Orrick, Herrington & Sutcliffe LLP

FHFA announces updates for implementation of GSE credit score requirements

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

Troutman Pepper

Missouri Becomes Latest State to Establish Regulatory Framework for Earned Wage Access Products

Troutman Pepper on

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

Hudson Cook, LLP

CFPB Bites of the Month - February 2023 - "Every Compliance Rose Has Its Thorns"

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In this month's article, we share some of our top "bites" for the prior month covered during the February webinar....more

Burr & Forman

Seventh Circuit Affirms Dismissal of FCRA Claim, But Finds Lack of Standing

Burr & Forman on

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

Venable LLP

FTC Action Against Credit Karma Underscores That Conversion Cannot Trump Compliance

Venable LLP on

​​​​​​​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

Venable LLP

FTC to Dun & Bradstreet: Change Credit Reporting Operations to Benefit Business Customers

Venable LLP on

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

Jaburg Wilk

Using Credit Reporting as Debt Collection Strategy Has Changed

Jaburg Wilk on

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

Fox Rothschild LLP

Checking Your Own Credit Report Is Vital

Fox Rothschild LLP on

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

Cozen O'Connor

Credit Score Use Without Notice | Financing Bad Landlord Behavior | § 340B Mandated Pharma Discounts

Cozen O'Connor on

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

Ballard Spahr LLP

House Financial Services Committee passes more credit reporting bills

Ballard Spahr LLP on

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

Womble Bond Dickinson

Uncheck that Box

Womble Bond Dickinson on

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

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