FICO Launches Lenders Leading Inclusion Program to Expand Credit Access for Underserved Communities [Yahoo! Finance]
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Source: Yahoo! Finance
This lack of credit data makes it difficult for these individuals to access credit and other financial opportunities. The program is significant for CDFIs and MDIs because it will provide them with the tools and resources they need to create more financial opportunities for their communities. According to Nicole Elam, president and CEO at National Bankers Association, the program will be 'invaluable' for MDI members and will help them create broader opportunities to support their communities. Participants in the program will receive access to FICO's leading scores for financial inclusion, FICO Score XD and UltraFICO Score, which can provide access to more than 50% of the U.S. credit-eligible population. They will also receive program adoption resources and tools, as well as inclusion-led lending strategy design consulting by industry experts. The Lenders Leading Inclusion Program is an initiative launched by FICO to empower Community Development Financial Institutions (CDFIs) an
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