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The Week Ahead: Insights Into Alternative Credit Data

credit scoringOn Tuesday, February 23, the Urban Institute is hosting a virtual event entitled "Financial Inclusion: Lessons Learned and What’s Next for Innovations in Alternative Credit Data." This session will explore the world of the "credit invisible": the millions of Americans who either don't have enough of a credit history to establish a score. As Urban's event description notes:

Because financial institutions have difficulty confidently lending to these consumers, they may be unable to obtain mortgages, credit cards, and other lending products. And, unable to obtain a mortgage, these consumers—who are disproportionately people of color and people with low incomes—are excluded from America’s strongest wealth-building tool: homeownership.

Running from 3:30-5:00 p.m. EST, the Urban Institute event will feature insights from Grovetta Gardineer, Senior Deputy Comptroller for Bank Supervision Policy at the U.S. Department of the Treasury. Gardineer will discuss "tools lenders could use to quickly harness alternative data, the potential of consumer-permissioned data, alternative credit data’s meaning to different lenders, the challenges to using such data, and how policymakers and regulators can advance efforts to use these data."

The rest of the panel will include:

  • Shawn Rife, Director, Risk Scoring, Experian
  • David Shellenberger, VP, Scores and Predictive Analytics, FICO
  • Michelle Singletary, Nationally Syndicated Personal Finance Columnist, Washington Post
  • Kelly Thompson Cochran, Deputy Director, FinRegLab
  • Laurie Goodman, VP, Housing Finance Policy, Urban Institute (moderator)

Here's what else is happening in The Week Ahead:

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.

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