What are the implications for financial literacy education due to alternative credit scoring?

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 ... What is alternative credit scoring? Using alternative data for credit scoring is a method that assesses your potential borrower's creditworthiness by looking ... Jun 10, 2020 ... These innovations reflect the continuing evolution of automated underwriting and credit score modeling, offering the potential to lower the cost ... Nov 7, 2024 ... consumer reporting agencies (CRAs)—Equifax, Experian, and TransUnion—have not traditionally used to calculate credit scores. These CRAs ... Jul 3, 2023 ... Introduction: What is A Credit Scoring Model? · Why Is the Credit Risk Scoring Model Important? · Discovering the Different Types of Credit ... Feb 14, 2024 ... In this instance, alternative credit data may be integrated directly into a primary credit score or held out in a secondary score, used to ... Oct 24, 2019 ... Alternative credit scoring and predictive models are a solution that would make credit lines for unbanked faster, cheaper, and credit worthy. Alternative credit scoring and financial inclusion : a structural data justice perspective ... This paper explores questions of justice surrounding the use of ... Oct 26, 2022 ... FHFA began to explore new models in 2014 and submitted a request for information on alternative credit scores in 2017. In 2018, Congress ... If these issues are not addressed, alternative data-driven credit-scoring systems can potentially amplify transparency and discrimination issues, preventing ...