Topics and Issues

Rental reporting (2)

Thomas Aiello, a policy and government affairs manager with the National Taxpayers Union, recently wrote an op-ed, that discusses how rental reporting to CRAs helps lift consumers into the financial mainstream.  Aiello’s piece, The Policy Change to Lift Credit Scores of Low-income Americans, makes the point that such a change “will overwhelmingly benefit lower-income Americans, who often have thin credit files, to help build their credit history.”  While Aiello supports mandatory reporting of rental data, something CDIA opposes, there is agreement with the over-arching point that “[m]ore information, not less, is also crucial towards creating a more inclusive economy that also protects borrowers and lenders from undue risk.”  An increase in the voluntary or self-report of rental information helps everyone, especially those that need the help the most.