Modern Credit Systems, Alternative Data & The American Dream (1:00 PM ET) Consider the conventional portfolio of the American Dream: owning a home, buying a car, perhaps starting a small business—each typically requires a substantial amount of credit to turn the dream into a reality. For many Americans who lack access to traditional credit, these quintessential markers of stability and success may remain out of reach. Economists and some members of Congress have suggested incorporating alternative data like cell phone, utility and rent payments in credit scores. These data lines, currently excluded from traditional credit scores, could provide information on financial responsibility that would expand credit access. Can alternative data be used to increase access to credit for underserved families? What needs to be done for lenders to become comfortable using alternative data in credit underwriting? Featuring: Suze Orman, Personal Finance Expert John Hope Bryant, Founder, Chairman and CEO, Operation HOPE, Inc. Rep. Joyce Beatty (D-OH), Member, Financial Services Committee; Chair, Subcommittee on Diversity and Inclusion Rep. Patrick McHenry (R-NC), Ranking Member, Financial Services Committee Michael Neal, Senior Research Associate, Urban Institute Jeff Tucker, Senior Economist, Zillow Chi Chi Wu, Staff Attorney, National Consumer Law Center Watch Today! Tuesday, January 26 1:00 PM ET / 10:00 AM PT Join the conversation! Tweet us @TheHillEvents and #TheHillCredit |
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