- Posted by Laurie Anderson
- On November 15, 2017
- alternative credit data, FactorTrust, TransUnion
The consumer credit reporting agency TransUnion acquire FactorTrust, aiming to stretch out credit access to more Americans. The acquisition reinforces TransUnion’s position as a provider of consumer reporting models that capture a wide range of positive payment behaviors. Also the acquisition will allow adding small dollar loan data, which positions TransUnion to help customers streamline compliance with the Consumer Financial Protection Bureau’s new small dollar lending rule.
“Access to credit is the building block of a strong American middle-class economy”, said TransUnion’s president and chief executive officer, Jim Peck. “With the acquisition of FactorTrust, we will be able to capture a wider variety of positive data that can be a stepping stone to building consumers’ credit profiles, helping people access credit and, ultimately, improve their standard of living”, added he.
Reposted from M and A Business…read full article