Removing Barriers Blog

CUNA Continues to Seek Feedback on CFPB Alternative Data RFI

The CFPB currently has a Request for Information (RFI) out seeking whether lenders are interested in using alternative data like rent, utility payments, etc. to determine credit worthiness. These types of payments, which are not usually included in credit bureau calculations could help credit invisible individuals obtain mortgages and other credit. However, we are also examining whether there are any new or unreasonable burdens this could create for credit unions. The CFPB also questions whether it should look at electronic deposits and withdraws.

CUNA’s request for feedback has additional information about this RFI including specific questions the CFPB is seeking feedback on. If you have any thoughts on this, please send them to Leah Dempsey, Senior Director of Advocacy and Counsel at