Authors Archives: Michael A. Turner, Ph.D.

Credit Information Sharing in Hong Kong

This paper evaluates Hong Kong’s credit information sharing system dynamics in Hong Kong, including data gaps, the real estate bubble, and the new entrant.

Addition is Better than Subtraction: The Risks from Data Suppression and the Benefits of Adding More Positive Data in Credit Reporting

This report looks at the potential impacts of negative credit data suppression or deletion measures during the COVID-19 pandemic period. While the proposed measures are well-intended, they harm more consumers than they help. Instead, the report recommends adding positive telecommunications payments to make the system fairer and more forgiving, giving consumers a chance to rebuild their credit history, since negative telecommunications data is already reported. This solution also protects the integrity of the national credit reporting system, vital for post-pandemic economic recovery.

PERC Research Findings for COVID-19 Economic Recovery Efforts

´╗┐´╗┐PERC has conducted years of research on disaster recovery (following major hurricanes, such as Katrina, Rita, and Wilma in 2005), credit access for lower income Americans, and credit reporting in general. This white paper discusses those findings and draws lessons for the economic recovery phase of the current COVID-19 crisis.

Alternative Data in the US: Progress, Promise, and Paralysis

This paper highlights new solutions in the alternative data and proven payment data space that are benefiting the credit invisible but advocates that the first-best solution for consumers would be pervasive full-file credit reporting of utility, telecom, and rental payment data directly to the main consumer databases operated by the nationwide CRAs.

Data Flows, Technology, and the Need for National Privacy Legislation

Does being a victim of a data breach increase the risk of identity theft? In this first-of-its-kind joint-study with the U.S. Chamber of Commerce Technology Engagement Center, which we hope will contribute to informed and evidence-based federal preemptive privacy legislation, no evidence is found that data breaches lead to increased consumer harm.

FHFA Credit Score Request for Comments Input

In these comments we support the FHFA’s effort to update the credit score used/required by the GSEs and explore how more than one score could be considered or permitted. We wish the FHFA would go further and create a more flexible process that would allow the credit score(s) used to be updated more regularly and also permit more credit score flexibility to enable scores that use alternative data to be utilized.