Topic
Alternative Data
20 published works
Consumer Finance Monitor
This week’s podcast: Using alternative data in credit underwriting
Our podcast looks at types of alternative data (AD) and industry sources, key points of the recent interagency statement on using AD for credit decisions and CFPB actions to encourage…
Retained Interest
US Interagency statement on the use of alternative data in credit underwriting
By J. Paul Forrester, Stephanie C. Robinson
Today, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office of the…
Consumer Finance Monitor
CFPB gives boost to use of alternative data and machine learning
By Christopher J. Willis, John L. Culhane, Jr.
A new CFPB blog post titled “An update on credit access and the Bureau’s first No-Action Letter” provides a boost to lenders using alternative data and machine learning in their…
The Fintech Report
Fintech Week in Review: Week of July 26, 2019
By Eric Wasik, Sam Boro
U.S. Developments Regulatory Developments House Task Force Looks to Allow Alternative Data for Credit Scoring A newly formed U.S. House of Representatives task force, the Financial Technology Task Force, held…
The Capital Commitment
WSJ Article on Geolocation Data Highlights Risks for Fund Managers
By Joshua M. Newville, Jeffrey Neuburger
On Friday, the WSJ published an article detailing how companies are monetizing smartphone location data by selling it to hedge fund clients. The data vendor featured in the WSJ article…
Consumer Finance Monitor
CFPB Provides Some Clarity on Alternative-Data Models Through No-Action Letter
On September 14, 2017, the CFPB issued a no-action letter – the first one ever issued by the agency – to a marketplace lender, stating that the agency had no…
Subject to Inquiry
The CFPB’s Alternative Data RFI: Making Your Response Count
By Government Investigations Group
The Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information (RFI) Regarding Use of Alternative Data and Modeling Techniques in the Credit Process, available here. The deadline for…
MoFo ReEnforcement: The Enforcement Blog
CFPB Evaluates Use of Alternative Data and Modeling Techniques in the Consumer Lending Credit Process
By Obrea Poindexter, Oliver Ireland, Crystal Kaldjob
On February 16, 2017, the CFPB issued a Request for Information regarding use of alternative data and modeling techniques in the consumer lending “credit process.” The CFPB defines the “credit…
Consumer Finance Monitor
CFPB seeking information on use of alternative data in credit process, including by small business lenders
The CFPB has issued a request for information (RFI) that seeks information about the use of alternative data and modeling techniques in the credit process. On March 21, 2017 from…
Consumer Financial Services Review
CFPB Calls for Comment on Alternative Data
By Melanie H. Brody, Stephen Lilley, Joy Tsai, Kris D. Kully
The Consumer Financial Protection Bureau (“CFPB”) announced a Request for Information (“RFI”) about alternative data on February 16, 2017, seeking insights into the benefits and risks of using unconventional financial…