Credit

A federal housing official pledged to take near-term action on credit score costs as two legislators have urged him not to allow fewer credit reports.

Fair Isaac Corp.'s shares saw their worst day since March 2020 on Wednesday, falling alongside credit bureau stocks after the head of the Federal Housing Finance Agency questioned credit report pricing. 

The company has not traditionally had a large presence in housing finance, but plans for government-related credit modernization have given it a boost.

Equifax Inc.'s first-quarter profit beat estimates, although the credit-reporting agency declined to raise its guidance, citing the tariff-induced uncertainty in the economy and falling consumer confidence.

Approximately 9% of current homeowners experience a labor market event that results in a negative credit shock, limiting access to their equity, Point said.

Republican Senator Josh Hawley sent a letter urging the Justice Department to investigate FICO's price increases, which he said have "been borne by borrowers, especially lower-income borrowers."

The first year of Otting's tenure as the New York lender's CEO brought substantial change, but the job isn't done. His goal: to build a powerhouse, profitable regional bank.

The private market is increasingly testing credit metrics aimed at growing originations without adding risk as a larger effort to this end has slowed.

Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.

The Consumer Financial Protection Bureau, now led by Treasury Secretary Scott Bessent, agreed to temporarily halt enforcement and litigation over its medical debt rule, handing the banking industry an immediate reprieve.