FinRegLab is working with teams at The Ohio State University and Charles River Associates to evaluate new workout structures and data and technology applications for consumers who are struggling with unsecured credit. The project will use data from pilots organized by the National Foundation for Credit Counseling and other sources.

Rapidly adjusting credit reporting and underwriting practices and processing small businesses’ Paycheck Protection Program applications posed substantial challenges in the first months of the pandemic. In 2020, FinRegLab produced a series of research briefs highlighting emerging issues and innovations.

Records from consumers’ deposit and card accounts and from small businesses’ accounting software can provide a relatively detailed and comprehensive picture of how applicants manage their finances on an ongoing basis. FinRegLab conducted an empirical assessment of the data’s benefits and risks, as well as market and policy analyses of the challenges to its wider adoption.