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CFPB Looks at Alternative Data, Consumer Access to Records at CUAC
Thursday, March 30, 2017 6:45 AM

Today the Consumer Financial Protection Bureau's Credit Union Advisory Council (CUAC) will discuss alternative data and consumers' access to financial records during a public meeting at the bureau's headquarters in Washington.

The meeting is set for 3:15 p.m. ET, and will be live-streamed on the CFPB's website.

The CFPB is currently requesting comments on the use of unconventional sources of information, called “alternative data,” such as cell phone bills and rent payments, to help facilitate consumers' access to credit. Comments are due by May 19.

The CFPB's CUAC has 15 members, all of them from credit unions with $10 billion or less in assets. Newly appointed members will serve two-year terms. The CUAC was formed under the Dodd-Frank Act to provide direct feedback to CFPB on its policy development, research, rulemaking, and engagement functions.