( May 6, 2026, 17:35 GMT | Official Statement) -- MLex Summary: US senators questioned Experian, Equifax and TransUnion on how the credit reporting companies are approaching the incorporation of buy-now-pay-later products into consumers’ credit reports. Senators Elizabeth Warren, Richard Blumenthal, Tammy Duckworth and Mazie Hirono wrote to the companies seeking clarification. “The current infrastructure of credit reporting in the US is extremely opaque; the credit reporting industry has been very secretive about its scoring models, which presents major potential consumer protection issues. With the rise of data harvesting, credit reporting companies hold more information about consumers than ever before. Moreover, credit reporting companies are also now performing the functions of data harvesters themselves,” the senators wrote.Full statement follows. Also see attached files....
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