No Credit Score...no problem: More entrepreneurs or another financial crisis? At the request of regulators, big banks will start sharing account activity data to issue credit cards to US consumers without credit scores. This win for open banking will bring good-but-under-served payers into the financial system and may enable some aspiring entrepreneurs to start a business. Or, could this behavior, also supported by regulators, lead us to another financial crisis?
Tracking Payments - Issue #7
Tracking Payments - Issue #7
Tracking Payments - Issue #7
No Credit Score...no problem: More entrepreneurs or another financial crisis? At the request of regulators, big banks will start sharing account activity data to issue credit cards to US consumers without credit scores. This win for open banking will bring good-but-under-served payers into the financial system and may enable some aspiring entrepreneurs to start a business. Or, could this behavior, also supported by regulators, lead us to another financial crisis?