Credit Union Philosophy and First Time Auto Buyers

Commentary by: Zachary Tondre

Credit union directors across the country are looking for ways to stand out in their markets by returning to the foundational philosophy of the movement to serve underserved borrowers. While many directors see great opportunity in this initiative, management teams …

Uncertainty is Certain

Commentary by: John McWilliams

When reflecting on your previous year, like most people, you probably start inwardly. Did you achieve your personal goals? Family goals? Career goals? Then we expand to the macro – how did your company perform? Your Clients? Your Industry? Your …

The Alternative to Alternative Lending

Commentary by: John McWilliams

I’ve frequently discussed how to improve the financial health of the 53 million Americans who do not have access to traditional, mainstream credit. In previous articles, I’ve explored the credit invisibles as a group, as well as concerns over predatory …

Data Used in Credit Scores – Are You Educated?

Commentary by: Jeff Stokes

We have been pursuing the topic of Financial Health with a necessary focus on the underserved, unbanked and credit invisibles.  A critical aspect of Financial Health involves an understanding of what data components are represented in credit scores used today.  …

Are Comedians a Good Source of Financial Advice?

Commentary by: John McWilliams

Did you see the clip of comedian John Oliver regarding subprime auto lending? If not, check it out here. While I commend satirists like John Oliver for expanding the public consciousness on key issues, I took ire with this subprime …

Credit Unions take an active role to address Financial Health Crisis

Commentary by: John McWilliams

How grassroots community lending is addressing the high cost of payday lending Our continuing effort to help bring awareness to the plight of millions of Americans suffering from poor financial health brought me and my colleagues at LexisNexis® Risk Solutions …

Financial Health: A Matter of Financial Life and Death

Commentary by: John McWilliams

Over the last few posts, we defined the underbanked, unbanked, and credit invisibles.  We posited potential limitations of traditional banking in servicing these consumers. We then detoured slightly to demonstrate how traditional credit scores may be losing their relevancy for …

Who are the Credit Invisibles? Why are they Invisible? And how can they be best served?

Commentary by: John McWilliams

The latest in an ongoing discussion about the crossroads of alternative and traditional credit data. It is well known that in order to get “traditional” credit (a credit card, loan, lease, etc.) from a “traditional” lender (i.e. the bank) you …

Big Dollars in Small Dollar: Regulation and Innovation

Commentary by: Solomon Semere

The nearly $50 billion small dollar lending market continues to experience significant changes as increased regulatory scrutiny and business model innovation impact the nature of competition. As consumer demand for short-term credit has rebounded since the downturn, the traditional storefront, …