LAS VEGAS, Nev. — DataX Ltd. is now offering what it calls the first FCRA-compliant credit reporting agency specifically developed for underserved, non-traditional borrowers seeking micro-loans and other services not supported by traditional credit bureaus.
"There are other services that provide information about this consumer segment, however they do not require their lenders to report and the information that is reported is largely out of date relative to the loan transaction in progress," says Derek LaFavor, chairman and CEO of SellingSource.com, parent company of Las Vegas-based DataXLtd., a provider of real-time consumer data verification and authentication services.
The DataX CRA database collects and provides information from users of online or storefront payday lenders and installment loan providers, the company says.
Recommended For You
"For the first time, we are balancing the rights of the consumer and the needs of the lender in this market," LaFavor says. "Through the DataX CRA, the consumer of non-traditional loans will now have an opportunity to establish a positive credit history."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
