Lenders are looking to expand beyond traditional credit scoring models to increase the ability to underwrite customers with a thin or no traditional credit file. Recent studies have suggested that "alternative data" can allow traditionally underserved communities to participate in mainstream credit products. However, with this increased access comes increased risks for violations of the Fair Credit Reporting Act (FCRA), the Fair and Accurate Credit Transactions Act (FACT Act), the Equal Credit Opportunity Act (ECOA), and the Fair Housing Act (FHA). Greenville partner Brad Rustin and associate Elizabeth DeVos will present the risks of alternative data on Feb. 9 during The Festival of Legal Learning hosted by UNC School of Law.

Rustin works with a number of industry organizations focusing on financial institutions and regularly speaks on topics involving regulatory compliance for chartered and non-chartered financial institutions. His speaking engagements have, in particular, focused on changing federal regulation of the money transmission and lending space in the post-Dodd Frank environment. DeVos is an associate of the Firm where she focuses her practice on litigation.