Publications

Covid-19 Credit Reporting & Scoring Update

Research Brief

Concerns that deterioration in consumer reports and credit scores could unduly constrain access to credit and the nation’s broader economic recovery have continued to grow since we published our first research brief on this topic in May 2020. The issue is important not just for consumers in accessing credit, employment, and rental housing, but also for small businesses because lenders often consider owners’ personal information when underwriting commercial loans.

This Research Brief summarizes recent developments, including industry and regulator actions to reduce the risk of scoring declines and loan denials based on pandemic-related information, concerns about potential negative impacts on renters, and debates over how to report longer-term repayment plans. The brief also explains stakeholder calls for further action by Congress, regulators, and industry groups to bolster access to credit and pandemic recovery.

Download the Research Brief

Related 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.

    Learn More: Data diversification in Credit Underwriting

  • 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.

    Learn More: Covid-19 Credit Reporting & Scoring Update

  • 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…

    Learn More: Technology Solutions for PPP and Beyond

  • 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.

    Learn More: Disaster-Related Credit Reporting Options

  • COVID-19 Triage (Series)

    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. Learn More

    Read more: COVID-19 Triage (Series)

About FinregLab

FinRegLab is an independent, nonprofit organization that conducts research and experiments with new technologies and data to drive the financial sector toward a responsible and inclusive marketplace. The organization also facilitates discourse across the financial ecosystem to inform public policy and market practices. To receive periodic updates on the latest research, subscribe to FRL’s newsletter and visit www.finreglab.org. Follow FinRegLab on LinkedIn and Twitter (X).

FinRegLab.org | 1701 K Street Northwest, Suite 1150, Washington, DC 20006