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Consumer Credit Reporting

Is There a New Breed of Forward Looking Credit Bureau Solutions on the Horizon?

When asked what made him an outstanding hockey player Wayne Gretzky replied,” I skate where the puck is going, not where it has been”. Unlike today’s credit characteristics which are based upon an historical perspective of a consumer’s behavior, this new breed of credit characteristics anticipate future consumer credit profiles allowing lenders to tailor credit offerings and risk management strategies ... Read More »

TransUnion Acquires Drivers History

TransUnion announced the acquisition of a majority interest in Drivers History, a leading provider of traffic violations and criminal court data. This transaction enhances TransUnion’s position as a trusted provider of data and analytic solutions to the insurance industry and strengthens Drivers History’s offering and market access by leveraging TransUnion’s carrier relationships and connectivity.  Although it will retain its operational ... Read More »

PERC Study: Credit Bureaus in Emerging Markets: Overview of Ownership & Regulatory Frameworks

A new PERC study examines how regulators and economies develop credit sharing systems that reflect their policy priorities and their capacities. Credit Bureaus in Emerging Markets: Overview of Ownership & Regulatory Framework, answers a number of questions regarding information sharing governance and structure in emerging markets, among them, how ownership should be configured and how the regulation of credit information ... Read More »

Experian, TransUnion Start Adding Rent Payment Data

Consumers who have made on-time rental payments had been frustrated that their histories didn’t count in credit scores.  The non-reporting of key credit records is costly to renters, economy as a whole. Why?  Because the landlord, phone and cable companies, and many other creditors don’t report your payments to Equifax, Experian or TransUnion, the big three credit bureaus. In the ... Read More »

Fraud Prevention:  How People Fall Prey to “Friendly Fraud”

How many criminals do you know personally?  Most of us would answer “none” – but there is a worrying trend for fraudulent activity to be performed either by the “first” or “second” party rather than some remote, unknown third party. First-party fraud is essentially where the consumer uses either their own or a completely synthetic (fabricated) identity and sets out with ... Read More »

Identity Theft Facts by TransUnion

BIIA member TransUnion offers sound advice in dealing with identity theft.   Knowing identity theft facts is critical. Identity thieves are less likely to prey on a well-informed population. So the more you learn about identity theft facts, the less vulnerable you are. Become familiar with identity theft facts and you’ll quickly see identity theft for the serious problem that it ... Read More »

Australia’s Credit Industry Primed for Positive Reporting ‘Game-Changer’

After a decade-long journey, the most significant reform to the Australian consumer credit industry in 25 years – a new comprehensive credit reporting (CCR) environment – began this month. Nerida Caesar, Veda’s Chief Executive Officer, said today’s milestone marked the beginning of a long-term journey for the credit and banking industry.  “CCR is a game-changer for the credit industry. Finally ... Read More »

Google Capital Backs Credit Karma with 85M Funding

Google Capital participates in a new funding of $85 million for Credit Karma, a San Francisco-based startup that provides free credit scores to consumers.  Google Capital financed roughly half of the $85 million round, with the rest coming from Tiger Global, Ribbit Capital, and Susquehanna Growth Equity. People visiting Credit Karma can take a free peek at their credit score ... Read More »

Credit Risk: What Really Influences a Credit Score?

It seems like a very straightforward question that deserves an equally straightforward answer, but the biggest credit-scoring question consumers want answered is anything but simplistic.  Consumers want to know, of course, “What influences my credit score?” The short answer is:  Your credit behaviors reflected in your credit files at the three largest credit reporting companies — Equifax, Experian and TransUnion ... Read More »

Quality of Consumer Credit Information: PERC report and FTC Report Share a Number of Similarities

Results from the 2011 Policy and Economic Research Council (PERC) report U.S. Consumer Credit Reports: Measuring Accuracy and Dispute Rates are similar to the recently released Federal Trade Commission (FTC) report on the accuracy of consumer credit reports maintained by the three nationwide consumer reporting agencies (CRAs). PERC released a white paper, Comparing FTC and PERC Studies on Measuring the ... Read More »