NCUA on Lending
Federal credit unions must consider additional information submitted by applicants to supplement their credit reports when considering credit applications, according to an opinion letter from NCUA Associate General Counsel Hattie Ulan.
She wrote that under existing regulations, creditors can restrict the information they use when making credit decisions as long as they do so across the board. But if an applicant requests that additional information be considered the creditor is required to do so.
Ulan gave her opinion in response to an inquiry from Trycera Credit Services, which provides alternative credit reports, which are verified by third parties.