Credit Bureaus Launch New Score, Focus on Consistency
Lenders looking for a better way to measure credit risks may have gotten their wish: the three major credit reporting agencies are touting a newly developed score that they say will provide more consistent, reliable results while offering greater predictive power. The new VantageScore was developed jointly by Experian, Equifax and TransUnion using borrower data culled from a sample of nearly 15 million consumers. In a conference call with reporters, officials from the credit…