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An inside look at 2 new credit scoring models

Ever since the concept of loaning money was conceived, lenders have been trying to find the ideal way to predict who will pay them back and who will default. Over time, methods for evaluating the likelihood of borrower repayment progressed from individual human judgment calls to more objective credit bureaus and reports. Today, scores often […]

Lenders Need to Guard Against Post-Data-Breach ‘Credit Washing,’ Analyst Says

Auto lenders are likely to tighten underwriting standards to stave off “credit washing,” a type of fraud that has become more popular amid an increase in data breaches, LexisNexis Risk Solutions analysts told Auto Finance News. Credit washing occurs when a borrower disputes negative information in a credit report, prompting the agency to “clean,” or temporarily […]