The Alternative Banking group of Occupy Wall Street is looking to Richard Cordray, director of Consumer Financial Protection Bureau, to revamp our credit scoring system.
In a letter sent last week, the group made 10 suggestions for what the CFPB should do as it takes over rule-making under the Fair Credit Reporting Act. Here's a quick look:
Credit scores should be calculated using a model that is public and freely available.
The President passed over Elizabeth Warren to run the Consumer Financial Protection Bureau (CFPB), but has chosen one of her top aides: Richard Cordray. The "official" announcement will be made tomorrow, but the White House sent out... Read Post
Last year, Congress enacted a law creating a Consumer Financial Protection Bureau (CFPB) to protect ordinary Americans from some of Wall Street and the banking industry’s worst abuses, and the Senate is expected to vote on CFPB Dire... Read Post