New Credit Scoring System for Underbanked Focuses on Utility, Phone Payment Record

With 25% of the U.S. population "unscorable" (because they have little or no credit payment history), a new FICO scoring system will take into account other measures, such as consumers who have faithfully paid their phone, oil, and gas bills, and haven't moved around too much. Whether bankers buy into this system remains to be seen. [4/3/15]