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Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
Get Book Here
Book Description
Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781983449659
Category :
Languages : en
Pages : 264
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Book Description
Use of credit information beyond lending : issues and reform proposals : hearing before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Financial Services, U.S. House of Representatives, One Hundred Eleventh Congress, second session, May 12, 2010.
Author: United States House of Representatives
Publisher:
ISBN: 9781702797870
Category :
Languages : en
Pages : 264
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Book Description
Use of credit information beyond lending: issues and reform proposals: hearing before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Financial Services, U.S. House of Representatives, One Hundred Eleventh Congress, second session, May 12, 2010.
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Consumer Financial Consumer Financial Protection Bureau
Publisher: Createspace Independent Publishing Platform
ISBN: 9781523355099
Category :
Languages : en
Pages : 36
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Book Description
Credit scoring uses statistical modeling to predict whether a consumer will default on his or her debts. The quantitative estimates that these methods produce, called "credit scores," allow lenders to rank order consumers in terms of the credit risk they pose and are used pervasively in all aspects of consumer lending. As a result, having a good credit score is important for credit access. Moreover, since credit scores, or other scores generated from credit report information such as insurance scores, can be used for underwriting other financial services products, including checking accounts and property and casualty insurance, a good credit score and credit report may provide benefits beyond credit access. While there are many different types of scoring models, those based on credit history information, such as the FICO and VantageScore, are the most widely used. These models generally rely on the credit histories compiled by nationwide credit reporting agencies (NCRAs). These records detail the credit accounts each consumer has held (called "tradelines"), collection agency accounts, monetary-related public records (e.g., tax liens, bankruptcy filings), and records of inquiries made by lenders in connection with a consumer-initiated credit application.
Author: Consumer Financial Consumer Financial Protection Bureau
Publisher: CreateSpace
ISBN: 9781514189559
Category :
Languages : en
Pages : 36
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Book Description
Credit scoring uses statistical modeling to predict whether a consumer will default on his or her debts. The quantitative estimates that these methods produce, called "credit scores," allow lenders to rank order consumers in terms of the credit risk they pose and are used pervasively in all aspects of consumer lending. As a result, having a good credit score is important for credit access. Moreover, since credit scores, or other scores generated from credit report information such as insurance scores, can be used for underwriting other financial services products, including checking accounts and property and casualty insurance, a good credit score and credit report may provide benefits beyond credit access. While there are many different types of scoring models, those based on credit history information, such as the FICO and VantageScore, are the most widely used. These models generally rely on the credit histories compiled by nationwide credit reporting agencies (NCRAs). These records detail the credit accounts each consumer has held (called "tradelines"), collection agency accounts, monetary-related public records (e.g., tax liens, bankruptcy filings), and records of inquiries made by lenders in connection with a consumer-initiated credit application.
Author: Thomas A. Durkin
Publisher:
ISBN: 0195169921
Category : Business & Economics
Languages : en
Pages : 737
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Book Description
Consumer Credit and the American Economy examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States. After discussing the origins and various kinds of consumer credit available in today's marketplace, this book reviews at some length the long run growth of consumer credit to explore the widely held belief that somehow consumer credit has risen "too fast for too long." It then turns to demand and supply with chapters discussing neoclassical theories of demand, new behavioral economics, and evidence on production costs and why consumer credit might seem expensive compared to some other kinds of credit like government finance. This discussion includes review of the economics of risk management and funding sources, as well discussion of the economic theory of why some people might be limited in their credit search, the phenomenon of credit rationing. This examination includes review of issues of risk management through mathematical methods of borrower screening known as credit scoring and financial market sources of funding for offerings of consumer credit. The book then discusses technological change in credit granting. It examines how modern automated information systems called credit reporting agencies, or more popularly "credit bureaus," reduce the costs of information acquisition and permit greater credit availability at less cost. This discussion is followed by examination of the logical offspring of technology, the ubiquitous credit card that permits consumers access to both payments and credit services worldwide virtually instantly. After a chapter on institutions that have arisen to supply credit to individuals for whom mainstream credit is often unavailable, including "payday loans" and other small dollar sources of loans, discussion turns to legal structure and the regulation of consumer credit. There are separate chapters on the theories behind the two main thrusts of federal regulation to this point, fairness for all and financial disclosure. Following these chapters, there is another on state regulation that has long focused on marketplace access and pricing. Before a final concluding chapter, another chapter focuses on two noncredit marketplace products that are closely related to credit. The first of them, debt protection including credit insurance and other forms of credit protection, is economically a complement. The second product, consumer leasing, is a substitute for credit use in many situations, especially involving acquisition of automobiles. This chapter is followed by a full review of consumer bankruptcy, what happens in the worst of cases when consumers find themselves unable to repay their loans. Because of the importance of consumer credit in consumers' financial affairs, the intended audience includes anyone interested in these issues, not only specialists who spend much of their time focused on them. For this reason, the authors have carefully avoided academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for consumer credit and to what the markets and institutions that provide these products have become today.
Author: United States. Congress. House. Committee on Financial Services
Publisher:
ISBN:
Category :
Languages : en
Pages : 256
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Book Description
Author:
Publisher:
ISBN:
Category : Consumer protection
Languages : en
Pages : 104
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Book Description
