This first of its kind joint-study by PERC and U.S. Department of Housing & Urban Development (HUD) investigates the impacts of reporting public housing authority (PHA) tenant rental payment data to credit bureaus. Credit invisibility affects 1 out of every 5 Americans, but in the lowest-income census tracks, almost 1 out of every 2 Americans (45%) are credit invisible. This report found that including full-file (both positive and negative) payment data eradicated credit invisibility and increased twice as many scores as it decreased. The system would become more inclusive and fairer, as mortgages are currently reported but rent is not. Seattle, Cook County, & Louisville PHAs participated, and HUD is now planning discussions around pilot programs for reporting PHA rental payment data.
FTC/CFPB Accuracy in Consumer Reporting Comments
In these comments, we call for legislation requiring mobile network payment data to be reported to credit bureaus. We also comment on credit data accuracy practices, and call for more research to be done following our 2011 report on data accuracy & the FTC’s 2013 report. Changes and new phenomena in data accuracy such as NCAP and the CFPB’s complaint portal should be assessed using these reports as a benchmark.
Data for Good: Promoting Safety, Health, and Inclusion
This paper surveys the socially beneficial, ancillary uses of core data in the marketplace. This paper is Part III of our US Data Ecosystem series, and raises considerations for national data privacy legislation.
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.
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.
Crypto-currencies: Misnamed, Misunderstood, and a Mistake for Casual Investors
Let me begin by declaring that Bitcoin has jumped the shark. Hopefully, the news of exchanges being shut down and wild price swings will provide sufficient red flags to potential investors so that they may avoid being drawn into this self-evident Ponzi scheme. Alas, this likely does not mean the end for crypto-currencies…for better or for worse.
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