Alliance Partnership Manager at LexisNexis Risk Solutions
Using big data can help credit unions better understand which delinquent members have the assets to repay accounts in collections, saving CUs time and effort, and increasing the likelihood of repayment.
The New York State Department of Financial Services is hoping to expand its authority to marketplace lenders, brokers, merchant cash advance companies and others that previously could operate in the state without a license.
The Consumer Financial Protection Bureau is seeking feedback on the benefits and risks of using alternative data sources, such as rent or utility payments, that would allow lenders to build a credit history for unbanked consumers.
Many CUs offer loan programs to help immigrants afford American citizenship, but the president's controversial executive order has raised plenty of questions about how those programs may be impacted – including whether or not some might see a boost.