Helping the “Credit Invisible” Become Visible
Last year, the CFPB published a report that found 26 million Americans were "credit invisible," meaning they did not have any credit history with one of the three nationwide credit reporting companies. African-American consumers, Hispanic consumers and consumers in low-income neighborhoods are most likely to fall into this category. The bureau has released a brief of its most significant findings as well as a checklist to help consumers who are seeking to build a credit history. [12/13/16]
