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Saudi Credit Bureau Delivers Access To Loans For Millions with Score

Fico Collections

Saudi Credit Bureau Delivers Access To Loans For Millions with Score. SIMAH wins FICO ® Decisions Award for financial inclusion using FICO ® Scores. This growth in Saudi financial inclusion was made possible by SIMAH’s advocacy efforts with financial institutions and a parallel education campaign with consumers.

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Public Policy Predictions 2022: What's Coming for Financial Services

Fico Collections

It’s the time of year for predictions, and with the insights gained from 2021, I am ready to offer a few public policy forecasts for those in the financial services industry. Perhaps no area in the financial services space has seen more change and attention in the past few months than overdraft practices.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

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Top 5 Scores Topics of 2021

Fico Collections

In 2021, the financial services world continued to grapple with the uncertainty brought on by year two of the COVID-19 pandemic. It serves as a broad-based, independent standard measure of credit risk. year-over-year decrease in the average number of hard credit inquiries in consumers’ credit files.

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FICO Fact: Can having no credit score be better for consumers than a low credit score?

Fico Collections

We all know that having a higher credit score helps a consumer gain access to credit and get better terms from a lender. And financial institutions use FICO® Scores to underwrite lending to millions of people so that they can achieve their financial goals like buying a first home or starting a business.

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Expanding Access to Credit Through Alternative Data

Fico Collections

That’s why FICO has been focused on finding new ways to demonstrate responsible financial behavior so that lenders can confidently extend credit to more consumers. . Over the past several years, we’ve helped lenders develop on-ramps to mainstream credit using alternative data for those seeking financial inclusion.

Lender 52
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Pre-Delinquency Measures for Financially Vulnerable Customers

Fico Collections

But among the critical learnings from the 2008 global financial crisis was the importance of flagging and helping at-risk and pre-delinquent borrowers as soon as possible to prevent financial disaster — especially when their deteriorating financial position was being influenced and undermined by a mix of external factors.

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