JPMorgan Chase & Co, Wells Fargo, US Bancorp and other banks plan to share data on customers' deposit accounts to extend credit to people who have traditionally been barred from getting them, the Wall Street Journal reported on Thursday.
The plan, part of a government-backed initiative, will factor in information from applicants' checking or savings accounts at other financial institutions to increase their chances of approval for getting credit cards, the report said on Thursday, citing people familiar with the matter.
The move is aimed at customers who do not have credit scores but are financially responsible, the report said, adding that the lenders would consider applicants' account balances over time and their overdraft histories.
The banks did not immediately respond to Reuters' requests for comment.
The banks are discussing using credit-reporting firms, such as Equifax, Experian PLC and TransUnion, as well as fintech company Early Warning Services LLC, for this data sharing, the WSJ report said.
The new plan marks a significant contrast to the strategy generally adopted by lenders, who traditionally rely on credit scores to determine eligibility for a loan. Reforming credit scores is one of US President Joe Biden's many priorities as he tries to repair the financial wreckage caused by the pandemic.
The%20end%20of%20Summer
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Company%20profile
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If you go
The flights
Emirates (www.emirates.com) and Etihad (www.etihad.com) both fly direct to Bengaluru, with return fares from Dh 1240. From Bengaluru airport, Coorg is a five-hour drive by car.
The hotels
The Tamara (www.thetamara.com) is located inside a working coffee plantation and offers individual villas with sprawling views of the hills (tariff from Dh1,300, including taxes and breakfast).
When to go
Coorg is an all-year destination, with the peak season for travel extending from the cooler months between October and March.
Company%20Profile
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
The specs: 2018 Audi RS5
Price, base: Dh359,200
Engine: 2.9L twin-turbo V6
Transmission: Eight-speed automatic
Power: 450hp at 5,700rpm
Torque: 600Nm at 1,900rpm
Fuel economy, combined: 8.7L / 100km
SAUDI RESULTS
Team Team Pederson (-40), Team Kyriacou (-39), Team De Roey (-39), Team Mehmet (-37), Team Pace (-36), Team Dimmock (-33)
Individual E. Pederson (-14), S. Kyriacou (-12), A van Dam (-12), L. Galmes (-12), C. Hull (-9), E. Givens (-8),
G. Hall (-8), Ursula Wikstrom (-7), Johanna Gustavsson (-7)
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Company%C2%A0profile
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Company%20Profile
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KILLING OF QASSEM SULEIMANI
THE DETAILS
Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5
The%20specs
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Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
RESULTS
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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