How do traditional credit scores fail certain demographic groups?

For decades, traditional credit scoring models have relied on a narrow set of financial data – primarily past loan repayments, credit card usage, ... Mar 4, 2025 ... Alternative credit scoring is a method of assessing potential borrowers using non-traditional data sources. May 8, 2024 ... This type of alternative data for credit scoring encompasses various non-traditional financial indicators such as rent payment histories, incomes from gig jobs ... Oct 24, 2019 ... Alternative credit scoring and predictive models are a solution that would make credit lines for unbanked faster, cheaper, and credit worthy. Feb 10, 2022 ... Alternative data promise to expand access to loans for the more than one in seven adult Americans who lack an established credit score, Chopra ... By: Chi Chi Wu, Carolyn Carter. June 1, 2022 — Issue Brief. Credit scores reflect dramatic and troubling disparities by race. For instance, a 2019 study by ... Jun 10, 2020 ... These innovations reflect the continuing evolution of automated underwriting and credit score modeling, offering the potential to lower the cost ... An alternative way of complying with the Rule is to give a credit score disclosure notice to all customers, regardless of the terms on which you granted them ... Jun 28, 2023 ... Several fintechs leverage alternative data such as rent payments to help consumers improve their credit scores. For example, RentPlus and ... Sep 23, 2021 ... Abstract. This paper covers a scoping review to establish the breadth of alternative credit scoring literature. The field is nascent and gaining ...