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Credit Score Alternatives Being Considered in Regulatory Relief Bill

Credit Score Alternatives Being Considered in Regulatory Relief Bill

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FintechNews RoundupUSA
··1 min read

Banking Committee Chairman Mike Crapo, R-Idaho, added a provision to the bill for the FHFA to review credit scoring alternatives; the FHFA currently uses FICO’s classic scoring model for loan applicants; the provision adds a new piece to the ongoing argument occurring between FICO and VantageScore; FICO and some lawmakers say the FHFA is already going through a review process for credit scores; the FHFA did ask for input on new scoring models in December and is working through the comment process. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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