Search
 

Cuts in Credit Lines Have Minimally Impacted Credit Scores, FICO Says

A study by FICO, the company responsible for the widely used FICO credit scores, revealed that consumers' credit scores have been only minimally impacted by the recent, widespread cut in consumer credit lines.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A study by FICO, the company responsible for the widely used FICO credit scores, revealed that consumers’ credit scores have been only minimally impacted by the recent, widespread cut in consumer credit lines.

“Our study suggests that lenders are using a scalpel and not a hatchet to trim their revolving credit exposure and meet their requirements for regulatory capital,” said Dr. Mark Greene, CEO of FICO. “This bodes well for the economy if we are counting on empowered consumers to stimulate growth and help end this recession. Based on our findings, the fundamental rules of Wall Street and Main Street still prevail. Both lenders and consumers perform at their best when they maintain smart, responsible credit strategies.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Recommended Stories

Taking a Stance on Social Justice: Part Two

Casey Boggs |

In the second of a two-part series, three more CU executives discuss social justice initiatives and how they impact their CU’s reputation.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.