What are the ethical considerations of using social media data in credit scoring?

Aug 16, 2022 ... An alternative credit score uses data that isn't used in traditional credit scoring models, called alternative data. Here's why alternative ... Jan 8, 2025 ... Discover how non-traditional data sources—such as utility payments, social media insights, and behavioral patterns—can revolutionize credit ... Aug 8, 2024 ... Alternative credit data refers to nontraditional data that lenders use to assess a borrower's creditworthiness, especially when there is limited ... 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 ... VantageScore is a leading credit-score model development company that generates the most inclusive, innovative and predictive models used in the ... NAR supports competition in credit scoring and alternative credit scoring models aimed to responsibly expand mortgage credit for millions of hardworking ... Mar 17, 2020 ... Pros and cons of alternative credit scoring models. The biggest advantage of alternative credit scoring is that more borrowers can qualify for ... Lending in the United States 5. Lending in India 7. Emergence of Digital Lending 7. Consumer Protection Concerns with Alternative Credit Scoring 9. Privacy and ... A movement is under way to collect and score alternative data that reflect the many payments credit-underserved individuals routinely make for insurance, ... Feb 18, 2025 ... Alternative credit scoring is changing the way lenders assess risk. By using simple, clear, and modern methods, this approach makes it easier to ...