Credit Building CBA. Loews Hotel JULY 13. Washington, DC. National Association of Home Builders JULY 14

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1701 K Street NW

Suite 1000

Washington, DC 20006

202-730-9390

creditbuildersalliance.org

info@creditbuildersalliance.org

#CBASym16

Credit Building

S y m p o S i u m

2016

CBA

Loews Hotel

WaShington, DC

National Association of Home Builders

WaShington, DC

JULY

13

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Welcome.

On behalf of Credit Builders Alliance (CBA), we are very pleased to present our second annual Credit Building Symposium.

After a very successful inaugural symposium in 2014, CBA has organized an even more robust agenda this year with an impressive lineup of experts. Interest in credit building is growing as the need to build credit has also grown in importance. The problem is highlighted in the CFPB’s recent report “Data Point: Credit Invisibles,” which found that 26 million Americans are credit invisible. This figure indicates that one in every 10 adults does not have any credit history with a nationwide consumer reporting agency (NCRA). The report also found that Black consumers, Hispanic consumers, and consumers in low-income neighborhoods are more likely to have no credit history with a NCRA or not enough current credit history to produce a credit score.

As a result, many Americans are being excluded from the mainstream credit system due to thin or no-file credit reports. This is where CBA’s nonprofit members fill a valuable role. They serve these communities through a range of nontraditional microlending, financial education and other asset building programming, including credit building.

In 2006, CBA was created out of a desire by nonprofit lenders to help their clients build credit. CBA filled a gap that prevented nonprofits from reporting their loan payment data because they either lacked the lending volume or capacity to do so directly. Through CBA, over 160 qualifying nonprofits now report over 28,000 tradelines per month to Experian and Transunion (Equifax just approved CBA’s membership to report to them), which totals over $749 million in loans.

Over the last 9 years, CBA has grown tremendously and now offers an array of other services:

 Helping nonprofits access credit reports as a financial coaching and underwriting tool (Approx. 8,000 credit reports pulled monthly);

 Building the capacity of affordable housing landlords to report rental payments; and,

 Training and consulting on starting and strengthening credit building programs and highlighting best practices.

We recognize that one of our greatest assets is our network of practitioners engaged in innovative credit building programming every day, and we are proud to support their efforts.

Dara Duguay

Executive Director/CBA

Welcome Letter from Dara Duguay,

CBA Executive Director

Welcome Letter from Dara Duguay,

CBA Executive Director

Welcome.

On behalf of Credit Builders Alliance (CBA), we are very pleased to present

our third annual Credit Building Symposium.

After a very successful inaugural symposium in 2014, CBA has organized a robust agenda this year with an impressive lineup of experts. Interest in credit building continues to grow as the need to build credit remains of critical importance. The problem is highlighted in the CFPB’s report “Data Point: Credit Invisibles,” which found that 26 million Americans are credit invisible. This figure indicates that one in every 10 adults does not have any credit history with a nationwide consumer reporting agency (NCRA). The report also found that Black consumers, Hispanic consumers, and consumers in low-income neighborhoods are more likely to have no credit history with a NCRA or not enough current credit history to produce a credit score.

As a result, many Americans are being excluded from the mainstream credit system due to thin or no-file credit reports. This is where CBA’s nonprofit members fill a valuable role. They serve these communities through a range of nontraditional microlending, financial education and other asset building programming, including credit building.

In 2006, CBA was created out of a desire by nonprofit lenders to help their clients build credit. CBA filled a gap that prevented nonprofits from reporting their loan payment data because they either lacked the lending volume or capacity to do so directly. Through CBA, over 180 qualifying nonprofits now report over 36,000 tradelines per month to Experian, Transunion and Equifax, which totals over $1 billion in loans.

Over the last 10 years, CBA has grown tremendously and now offers an array of other services:

 Helping nonprofits access credit reports as a financial coaching and underwriting tool (Approx. 9,000 credit reports pulled monthly);

 Building the capacity of affordable housing landlords to report rental payments; and,

 Training and consulting on starting and strengthening credit building programs and highlighting best practices.

We recognize that one of our greatest assets is our network of practitioners engaged in innovative credit building programming every day, and we are proud to support their efforts.

Dara Duguay

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CBA Reporter and CBA Business Reporter

enable nonprofit lenders to report their individual and business borrowers’ monthly microenterprise, small business, and consumer loan payments to the major credit bureaus: Experian, TransUnion, Equifax, Experian Business and Dun & Bradstreet. CBA’s members can offer their clients not only a loan to launch a business or meet a household need, but the ability to build positive personal and business credit history.

CBA Access

enables nonprofits engaged in lending and/or financial education to get credentialed to pull and purchase credit reports from the major credit bureaus—TransUnion and Experian—at reduced prices in order to underwrite loans, provide financial education, and track client and program outcomes.

CBA Rent Reporting

is a new service that supports mission-driven affordable housing providers to implement rent reporting as a credit building strategy for their residents and as an incentive for on-time rent payment. The Rent Reporting for Credit Building model pairs the monthly reporting of resident rent payments to major credit bureaus for inclusion on traditional consumer credit reports with financial coaching/education and asset building. Nearly 80% of residents who participated in CBA’s rent reporting pilot experienced a substantial credit score increase. CBA has helped nearly a dozen affordable housing providers to leverage rent reporting as a credit building opportunity for their residents. CBA Rent Reporting for Credit Building supports organizations to assess their rent reporting capacity and options; design an initiative specific to their organizational objectives, resident population, and existing programming; and implement the initiative and measure its success.

CBA Credit as an Asset

training has been offered since 2008 to nonprofit lenders, financial coaches and educators, social service providers and others interested in promoting financial stability and inclusion. The training aims to help participants understand credit building and credit education as a foundational component of any successful asset building program for underserved clients.

For more information

about CBA Reporter, CBA Access or CBA trainings for your organization/community, please contact us at

info@creditbuildersalliance.org

or 202-730-9390.

CBA Core Services

CBA Core Services

CBA Reporter and CBA Business Reporter

enable nonprofit lenders to report their individual and business borrowers’ monthly microenterprise, small business, and consumer loan payments to the major credit bureaus: Experian, TransUnion, Equifax, Experian Business and Dun & Bradstreet. CBA’s members can offer their clients not only a loan to launch a business or meet a household need, but the ability to build positive personal and business credit history.

CBA Access

enables nonprofits engaged in lending and/or financial education to get credentialed to pull and purchase credit reports from the major credit bureaus—TransUnion and Experian—at reduced prices in order to underwrite loans, provide financial education, and track client and program outcomes.

CBA Rent Reporting

is a service that supports mission-driven affordable housing providers to implement rent reporting as a credit building strategy for their residents and as an incentive for on-time rent payment. The Rent Reporting for Credit Building model pairs the monthly reporting of resident rent payments to major credit bureaus for inclusion on traditional consumer credit reports with financial coaching/education and asset building. CBA Rent Reporting for Credit Building supports organizations to assess their rent reporting capacity and options; design an initiative specific to their organizational objectives, resident population, and existing programming; and implement the initiative and measure its success.

CBA Credit as an Asset

training has been offered since 2008 to nonprofit lenders, financial coaches and educators, social service providers and others interested in promoting financial stability and inclusion. The training aims to help participants understand credit building and credit education as a foundational component of any successful asset building program for underserved clients.

For more information

about CBA Reporter, CBA Access or CBA trainings for your organization/community, please contact us at

info@creditbuildersalliance.org

or 202-730-9390.

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July 13, 2016

8:30

am

to 4:30

pm

Loews Hotel

1177 15th St. NW, Washington, D.C. 20005

Part I

8:30 AM BreakfaSt 9:00 AM Welcome 9:10 AM research findings:

insights on millennials & Credit 1. presentation

Lexisnexis risk Solutions & nix neighborhood Lending

10:45 AM Break

11:00 AM research findings:

how Credit education affects Behavior 1. presentation

perC

11:30 AM research findings:

reaching minority households 1. presentation

filene research institute

NOON–1 pm LunCh

presentation by fiCo (open access)

Part II

Credit Education Afternoon

1:00 PM Credit education partners with CBa

1. panel (moderated by Sarah Chenven, CBa)

the financial Clinic

All in one platform that enables non-profits to incorporate financial coaching strategies into their programs

Justine peterSen

Training modules and tests designed to help financial counselors assess their credit report reading skills and understanding of credit building

LifeCents

An online financial education program that helps consumers improve their financial health

2:15 PM Break

2:30 PM CBa members-only

1. Listening Session - How can CBA best support your credit building endeavors and create a more cohesive credit building community?

What problems affect your work the most?

How do you surmount challenges?

4:30 PM Debt Collection:

all you ever Wanted to know 1. Q&a Session

DBa international

5:15 PM Close of Day one’s training

5:30–7:00PM reception

announcement by nerdwallet

A g e n d A

PRE-SYMPOSIUM

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Part I

8:30 AM BreakfaSt

9:00 AM Welcome (Jeanne hogarth,

CBa Board Chair & CfSi V.p.)

9:10 AM Legislative updates (Congressman ellison)

with intro by Sarah Davies, VantageScore

9:30 AM Closing the racial Wealth gap

1. keynote presentation

gabriela Sandoval, turn

10:15 AM regulatory updates

Susan Stocks, CpfB

intro by naomi Camper, Jpmorgan Chase

10:45 AM Break

11:00 AM Closing the racial Wealth gap

through entrepreneurship 1. Discussion

(moderated by nancy marshall-genzer, marketplace radio)goldman Sachs nCLr CfeD aeo NOON–1 pm LunCh 12:30–1 PM

Speaker (Joyce klein, the aspen institute) Discussant (Celina pena, Liftfund)

Part II

1:15 PM Credit Building non-profit panel: Working w/target populations to Close the racial Wealth gap 1. panel (moderated by Dara Duguay, CBa)

youth—my path & young invincibles

parishioners—Capital good fund

formerly incarcerated—innovative Changes

Veterans—rDi financial

Communities of Color—naaCp 2. Discussion

2:15 PM Break

2:30 PM Credit Builder products—minimizing risk & maximizing impact: to Close the racial Wealth gap

1. panel (moderated by rob meloche, Visa)

rent reporting (Cleveland housing network)

Credit Builder Loan

(Lifeasset/Jubilee housing/CaaB)

key findings from Credit Builder Loan evaluation (CfpB)

anthem product (Core Logic)

CreditWise (Capital one) 2. Discussion

3:45 PM measuring Success: to Close the racial Wealth gap

1. presentation (introduced by nancy Stark, Capital one)

Standardizing Credit Building outcomes (Sarah Chenven, CBa)

4:15 PM CBa awards

4:30 PM Closing comments/ adjourn

July 14, 2016

8:30

am

to 4:30

pm

National Association of Home Builders

1201 15th Street NW, Washington, DC 20005

S Y M P O S I U M

A g e n d A

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Credit Builders Alliance

B o a r D

Jeanne M. Hogarth, Center for Financial Services Innovation (CFSI)

Board Chairman

Livingston Parsons, Accion

Governance Committee Chair

Evelyn Burnett, Cleveland Neighborhood Progress

Vice Chairman, Marketing Committee chair

Andrew Posner, Capital Good Fund

Finance Committee Chair

Peter Maynard, Equifax

HR Committee Chair

Diana Avellaneda, Latino Economic Development Center (LEDC) Laura Fisher, Vox Global

Marvin Ginn, Native Community Finance Joyce Klein, The Aspen Institute

Beth Lipson, Opportunity Finance Network

Stuart Pratt, Consumer Data Industry Association (CDIA) Jose Quinonez, Mission Asset Fund (MAF)

Kristen Schell, Working Credit NFP Nancy Stark, Capital One

Yanki Tshering, Business Center for New Americans (BCNA) Patrick Walker, Political and Economic Research Council (PERC) Nancy Yuill, Innovative Changes

S ta f f

Dara Duguay Executive Director

Sarah Chenven Deputy Director

Sean Hogan Finance Manager

Elisabeth Johnson Director of Membership

Mary Jo Halder Membership Associate

Kseniya Zubkova Operations and Program Associate

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SPONSORS

Consumer Financial Protection Bureau

Experian

Federal Trade Commission

FICO

LexisNexis Risk Solutions

LifeWise Strategies

nerdwallet

The Financial Clinic

EXHIBITORS

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1701 K Street NW

Suite 1000

Washington, DC 20006

202-730-9390

creditbuildersalliance.org

info@creditbuildersalliance.org

#CBASym16

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