Publications
Disaster-Related Credit Reporting Options
Research Brief
Report Summary
As the economic damage caused by the Covid-19 pandemic continues to deepen, 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 crisis. Although Congress adopted new protections in March, stakeholders are deeply divided over whether additional action will be needed in the face of what may be a protracted and uneven recovery.
This Research Brief is the first in a series of publications intended to facilitate post-pandemic adjustments to credit scoring and underwriting models to support an inclusive and rapid recovery process. It analyzes the current options under consideration for disaster-related credit reporting, as well as providing related historical and market context.
Click here for an update on pandemic-related credit reporting and scoring issues published in July 2020.
Click here for an October 2020 update on the use of non-traditional data for credit scoring and underwriting in response to the pandemic recession and racial justice movements.
Related Publications
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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.
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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.
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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…
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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
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.
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