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.
Reply to the HTF Report on Building a PCR in India
This report addresses the Reserve Bank of India’s High-Level Task Force (HTF) Report published in June 2018 regarding the proposed Indian public credit registry (PCR).
Fostering Competition Among Lenders: Proposed Light-touch Mandatory CCR Unlikely to Work
This report explores the possible impacts of the proposed Comprehensive Credit Reporting bill in Australia.
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.
The Case for a Public Credit Registry in India: Additional Evidence for Consideration
This paper examines a range of policy and market issues associated with the proposed introduction of a public credit registry (PCR) in India.
The Impact of Credit Reporting and Credit Scoring on the MFI Sector
This research analyzes a series of questions pertaining to the impacts on microfinance institutions (MFIs) when using credit bureau data (conventionally referred to as credit files) for purposes of underwriting credit; for the same purposes, it also analyzes credit scoring models and credit decisioning platforms that use credit bureau data.
Data Protection and Credit Information Sharing
This white paper discusses different data protection regimes and argues that whether a system is considered siloed or omnibus what really matters (in a practical sense) are the details and whether there is sufficient regulatory flexibility to account for “on the ground” realities. Credit information sharing is a focus of the white paper.
Changing the Lending Landscape: Credit Deserts, the Credit Invisible, and Data Gaps in Silicon Valley
This report presents findings from the pilot effort of the Credit Deserts Project, which aims to map the incidence of Credit Invisibility, in which consumers have credit reports with no or insufficient data with which to generate a traditional credit score. Previous research suggests that Credit Invisibles disproportionately live in lower income areas of communities and help form what we call Credit Deserts.
Personalized Credit Education: Consumer and Small Business Owner Attitudes, Impacts and Impediments
This study is the final report on research that examines resulting credit score changes and consumer attitudes following the use of personalized credit education sessions by study participants. The credit education service examined is offered by a national credit bureau. Such services (offered by for-profit non-lender/non-creditor entities) are covered and inhibited by CROA.