FinRegLab partnered with the Financial Health Network, Flourish Ventures, and Mitchell Sandler to provide a working paper summarizing the current U.S. federal legal framework governing consumer financial data with the goal of laying a foundation for future policy analyses and discussions.
Publications
Data diversification in Credit Underwriting
This update catalogues recent initiatives involving the use of non-traditional credit data, including cash-flow information. It considers how dramatic shifts in economic conditions due to the Covid-19 pandemic and mass movements for racial justice have increased incentives to adopt new data sources and models, but also created new market and policy challenges.
Publications
AI FAQS: Explainability in Credit Underwriting
This second edition of our FAQs considers more deeply issues and debates about model transparency, explainability, and the implications of using machine learning for credit underwriting.
Publications
Covid-19 Credit Reporting & Scoring Update
Concerns about credit reporting and scoring issues are growing as early relief programs start to expire and the focus shifts from short-term forbearance to long-term repayment. This Research Brief updates market and regulatory developments as well as ongoing policy debates.
Publications
Technology Solutions for PPP and Beyond
This Research Brief catalogues uses of new data and technologies to make it easier for small businesses to access federal Paycheck Protection Program (PPP) funds and other forms of credit. Solving PPP enrollment challenges is important to laying the foundation for a rapid and inclusive recovery and to building a more resilient small business sector going forward.
Publications
AI FAQS: Key Concepts
This first edition of our FAQs addresses a range of introductory questions about AI and machine learning.
Publications
Disaster-Related Credit Reporting Options
This Research Brief analyzes the current options under consideration for addressing concerns that declining credit scores could make it harder for consumers and small businesses to access the credit they need to ride out and rebuild from the pandemic, as well as providing related historical and market context.
This report provides a detailed snapshot of the use of cash-flow data in U.S. consumer lending and the development of the system for transferring data between firms, in addition to analyzing policy and regulatory issues raised by cash-flow underwriting in both consumer and small business credit markets.
This overview highlights key themes from our longer market context and policy analysis, including outlining options for action by industry, regulators, and Congress.
FinRegLab research finds that resolving data transfer issues could facilitate use of cash-flow data for credit underwriting, with particular opportunity to expand access for millions of underserved consumers and small businesses.