Not having a credit record doesn’t mean you’re a bad risk
March 24, 2008 | Texas, customers, industry, research, states | Comments (0)Pamela Yip, columnist at the Dallas Morning News, has an interesting column today about the 40 million Americans who are “underbanked.” Here’s a key passage:
“Some underbanked consumers have bad credit. Others may just have little or no credit history.
“That doesn’t necessarily mean they’re a bad risk,” said Jennifer Tescher, director of the Center for Financial Services Innovation in Chicago, which studies the underbanked market. “It means we don’t know what risk they are because we don’t have data about them.”
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