Archive | Press Releases

PERC Calls for Non-Financial Lenders to be Recognized as Creditors Under ECOA & Regulation B

In comments to the Consumer Financial Protection Bureau’s request for information, the Policy & Economic Research Council (PERC) called for certain non-financial lenders—including but not limited to mobile network operators or MNOs—to be explicitly recognized in the definition of “creditors.” The CFPB had requested information to identify opportunities to prevent credit discrimination, promote fair, equitable, […]

Latest PERC Report on Philippines Credit Information System Recommends Amendments to CISA

A new report released by the Makati Business Club (MBC) and the Policy & Economic Research Council found that the Credit Information Sharing Act (CISA) in the Philippines has resulted in an underperforming credit information sharing system. The report, titled Philippine Credit Information Study, offered recommendations and possible amendments to CISA in order to improve […]

PERC Report Recommends Updates to Hong Kong’s Credit Information Regulatory Framework

A new report from the Asia-Pacific Credit Coalition (APCC) and the Policy and Economic Research Council (PERC) on the Hong Kong credit information sharing market recommends regulations be updated to facilitate financial inclusion and competition. The report, titled “Credit Information Sharing in Hong Kong,” reviews the market dynamics in Hong Kong, including data gaps, the […]

COVID-19 & Credit Reporting: Suppression is Not the Solution

There remains tremendous uncertainty surrounding the global COVID-19 pandemic as a health care crisis. There is also uncertainty about the economic collateral damage being caused by the pandemic—primarily around the slope of the economic recovery curve (will the curve be “V-,” “U-,” or “L-shaped?”). Whatever recovery trajectory different affected economies ultimately travel along, the following […]

International Committee on Credit Reporting Issues COVID-19 Reporting Guidance

Earlier today, the International Committee on Credit Reporting (ICCR) issued guidance for policymakers on credit reporting and COVID-19. The guidance was a response to requests from central bankers around the world on options for balancing two policy objectives: (1) protecting borrowers from undue harm to their creditworthiness as a consequence of the COVID-19 global pandemic; […]

PERC Findings from Hurricane Katrina Disaster Research Applicable to Economic Fallout from COVID-19 Pandemic

A new report released yesterday by the Policy and Economic Research Council (PERC) offers guidance to policymakers seeking solutions to economic challenges resulting from the COVID-19 pandemic. PERC has undertaken field research in communities and regions devastated by natural and manmade disasters—including a 5-year longitudinal study on small business impacts from the 2005 hurricanes in […]

Mobile Network Operators Must Credit Report Loan Data

In comments to the Federal Trade Commission and Consumer Financial Protection Bureau’s request for comments on accuracy in consumer reporting, the Policy & Economic Research Council (PERC) called for legislation requiring mobile network operators (MNOs including AT&T, Sprint, T-Mobile, US Cellular, and Verizon Wireless) to report credit and payment data to credit bureaus.   Each […]

NEW REPORT EXPLORES PROBLEM OF ‘CREDIT INVISIBILITY’ AMONG HUD-ASSISTED HOUSEHOLDS

Landlords and property management groups regularly use credit checks to make determinations about renting to potential tenants and many employers incorporate credit checks in hiring decisions. A low credit score or credit invisibility can thusly limit housing choice and employment opportunity for low-income families. A new first-of-its-kind study from the U.S. Department of Housing and […]

New Report Explores Socially Beneficial Uses of Core Data

A new joint-study from the U.S. Chamber of Commerce Technology Engagement Center (C_TEC) and the Policy and Economic Research Council (PERC) finds that many companies’ “core” data assets are used for other, non-core, ancillary applications that are often overlooked. It looks at how data makes outcomes more efficient in public safety, health, financial inclusion, and […]