Bankers, Advocates Tell Lawmakers Alternate Data Expands Credit Access
Representative Bill Foster expressed cautious optimism that alternative datasets could improve credit access for millions of Americans if used correctly.
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tl;dr
A House Financial Services subcommittee hearing explored how alternative data sources like utility payments and cash flow could expand credit access, while witnesses debated the burden of fraudulent disputes and the risks of data inaccuracy for vulnerable consumers.
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BFBill FosterD-Illinois-11
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