Alternative data has the potential to benefit millions of consumers, whether they are “credit invisible” or they have impaired records with the traditional Big Three nationwide consumer reporting agencies or “credit bureaus” – Equifax, Experian, and TransUnion. However, alternative data is not without its risks.Much of the analysis of whether alternative data will benefit or…
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On October 10, 2018, the Department of Homeland Security (DHS) issued a proposed rule that would make it much harder for immigrants to obtain visas (including visas to study or work in the U.S.), to extend their visas, or to become lawful permanent residents (“green card holders”). The proposal greatly expands what will be considered…
Payday loans are very high-cost, short-term loans that ensnare borrowers in a debt trap. As public awareness of the dangers of payday loans has grown, a number of institutions have begun offering alternative products that promise to be more beneficial to the borrower. But payday loan alternatives are not all created equal. Some are considerably…