As federal policymakers struggle to address the nation’s growing shortage of affordable housing, a new report by FinRegLab analyzes the potential benefits of automating and updating federal insurance programs for manufactured home loans.
A new report by FinRegLab traces institutions’ growing use of new data sources, artificial intelligence, and other innovations in identity proofing and financial crimes monitoring, highlighting the potential benefits and risks to consumers particularly as the sector responds to escalating fraud and scams activity since the pandemic.
Mission-based lenders are increasingly using electronic bank account data and technology platforms to expand credit access to underserved entrepreneurs, according to a new FinRegLab working paper that details both current practices and future challenges as lenders work to scale their lending programs. Transforming Small Business Credit: Technology and Data Adoption in Mission-Based Lending focuses on […]
A new report by FinRegLab underscores the importance of continuing technology and data improvements to expand credit access among smaller, younger businesses. From Crisis to Opportunity: Financing for Underserved Small Businesses since COVID-19 analyzes recent lending trends, including initiatives focusing on underserved businesses, lender technology adoption, and the effect of high inflation and interest rates on both loan demand and supply.
FinRegLab announced that it is conducting new empirical research to evaluate the inclusion impact of machine learning credit models, including those built with bank account data as well as traditional credit report information. The organization has also been invited by the Office of the Comptroller of the Currency (OCC) to co-chair a new Technology Working Group within the OCC’s Project REACh initiative.
A new report by FinRegLab details strategies for improving data sources for credit scoring and underwriting of Kenyan micro and small enterprises (MSEs), finding that tapping multiple non-conventional (or alternative) data sources is particularly important to expanding credit access and growth among women-owned MSEs.
FinRegLab is extending its investigation of the adoption of artificial intelligence in financial services through a policy analysis focused on the growing use of machine learning models for underwriting credit and a January 17 webinar with senior federal financial regulators to discuss generative AI and other recent developments.
FinRegLab is launching an initiative with support from the U.S. Department of Commerce Minority Business Development Agency (MBDA) to improve credit access for minority-owned companies and other underserved small businesses through the use of non-traditional data sources and mission-based lenders.
A new research paper underscores the importance of evaluating whether the most vulnerable and distressed borrowers need longer term repayment plans soon after they first enroll in natural disaster or other emergency relief programs with credit card lenders.
FinRegLab has issued two papers that examine lenders’ ability to build, understand, and manage machine learning models to ensure that they can be trusted to underwrite applications for credit by millions of consumers and small businesses.