Public Citizen
MARCH 21, 2022
Nydia Remolina of Singapore Management University - Centre for AI & Data Governance has written The Role of Financial Regulators in the Governance of Algorithmic Credit Scoring. Here's the abstract: The use of algorithmic credit scoring presents opportunities and challenges for lenders, regulators, and consumers.
Collection Industry News
AUGUST 30, 2022
And now we can add mortgage lender bankruptcies — and the rise (and fall) of “non-qualified mortgages” — to the factors aggravating an already uncertain market. They’ve previously been touted as an option for creditworthy borrowers who can’t otherwise qualify for traditional mortgage loan programs.
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Collection Industry News
MAY 18, 2021
While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans.
Debt Free Colorado
FEBRUARY 21, 2022
The CFDCPA does not apply to anyone who collects their debts or government personnel in the United States. The Uniform Consumer Credit Code (UCCC) is a Colorado state legislation governing how consumer credit is handled. Consumer credit transactions are governed by the UCCC, which is a code of conduct.
Fico Collections
APRIL 6, 2021
The government-backed Furlough Scheme has now been extended until the end of September. Other high-street lenders are looking at similar initiatives. But getting a clear picture of customers’ true financial position, while treating at-risk borrowers appropriately, continues to pose a headache for lenders. Phased Changes.
Credit Corp
AUGUST 5, 2020
Governments, charities, and even creditors scrambled to put programs in place to support people during this time while also mitigating future economic fallout. The Index, which is brought to you by the makers of the popular FICO Score for creditworthiness, ranges from 1 to 99. Does This New Number Make Credit Scores Less Important?
Credit Corp
MAY 23, 2021
Incorrect Personal Information Lender Inquiries You Don’t Recognize Accounts You Never Opened Credit Utilization Goes Up Credit Score Goes Up or Down Unexpectedly Public Records You Don’t Recognize. Warning Sign 2: Lender Inquiries You Don’t Recognize. Negative public records can substantially impact your creditworthiness.
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