The use of expanded Fair Credit Reporting Act (FCRA) – or alternative – data has continued to gain popularity among lenders and financial institutions. Today’s volatile economy, exacerbated by financial disparities created by the pandemic, has highlighted the importance of financial inclusion and credit availability for unbanked and underbanked consumers.
Join Experian experts Alpa Lally, Vice President of Data Business, and Michelle Cocchiarella, Analytical Consultant, explore how FCRA data can benefit lenders of all sizes, improve financial access for consumers and reveal what lift it can offer when augmented with traditional credit data.
What we’ll cover:
- How leveraging FCRA data can provide a more holistic view of a consumer’s credit profile and behavior beyond financial services, leading to smarter, more informed lending decisions
- How expanded FCRA data is being used throughout the lending lifecycle
- Walk through a loan origination auto use-case
- Experian’s vision and strategy for FCRA data and ways to extend and improve the methods by which lenders evaluate borrowers’ risk
The use of expanded Fair Credit Reporting Act (FCRA) – or alternative – data has continued to gain popularity among lenders and financial institutions. Today’s volatile economy, exacerbated by financial disparities created by the… Read the rest
Occasionally someone slips and says something they are thinking but know they should never actually say publicly. This is what happened to poor Sara Nelson-Pallmeyer of Exodus Lending, a Minnesota-based nonprofit that claims to “advocate… Read the rest
In this month of July, we should remember the role United States servicemembers play in defending and preserving the blessings of freedom for all Americans. The American Financial Services Association (AFSA) is pleased to support Military… Read the rest
AFSA’s login systems maintenance is now complete. Members should be able to access password-protected resources, including AFSA*Track, with no issue. If you do encounter an issue, please contact Dan Bucherer at dbucherer@afsamail.org… Read the rest
Senate Banking Committee Chair Sherrod Brown (D-OH) today announced that the committee would hold a hearing entitled, Protecting Americans from Debt Traps by Extending the Military’s 36% Interest Rate Cap to Everyone on July 29 at… Read the rest
President Biden issued an Executive Order (the “Order”) on issues related to market competition in the U.S. economy. Among other provisions, the Order calls on the Consumer Financial Protection Bureau (CFPB) to complete its rulemaking … Read the rest
To deliver a better user experience for all AFSA’s digital properties, we will begin upgrading Protech, its association management database, from July 12 through the 14th. The Protech system also controls Afsaonline.org login authentication… Read the rest
The House Financial Services Committee held a hearing earlier this week entitled, “A Biased, Broken System: Examining Proposals to Overhaul Credit Reporting to Achieve Equity,” which examined the following three legislative proposals:… Read the rest
The American Financial Services Association (AFSA) today submitted a comment letter in response to a Request for Information (RFI) from several federal agencies on financial institutions’ (FIs’) use of artificial intelligence (AI), …
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The featured Premier Business Partner for July is Cox Automotive Lending Solutions.
Dealertrack provides innovative technology that is critical to the success of any automotive dealership or lending institution. Our unmatched product… Read the rest
