Overview
The COVID-19 pandemic triggered a flurry of initiatives by both government and financial services stakeholders to adapt their operations and provide meaningful relief to households and small businesses in the face of the nation’s most severe economic shock since the Great Depression.
As firms changed their credit reporting and underwriting practices and struggled to process thousands of small businesses’ Paycheck Protection Program applications, FinRegLab produced a series of research briefs in 2020 highlighting emerging issues and innovations.
Publications
Data Diversification in Credit Underwriting
(Oct. 2020)
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.
Learn MoreCovid-19 Credit Reporting & Scoring Update
(July 2020)
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.
Learn MoreTechnology Solutions for PPP and Beyond
(June 2020)
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.
Learn MoreDisaster-Related Credit Reporting Options
(May 2020)
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.
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FLEXIBLE CODE
The Countdown Clock for Student Loan Forbearances (May 2023)
This Research Brief highlights the need for consumer engagement and administrative flexibility to help distressed borrowers transition smoothly into longer-term repayment plans as pandemic deferral programs end and new programs are implemented.
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Debt Management Insights for Distressed Borrowers
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.
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