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NAFCU issued a Regulatory Alert Wednesday seeking members' input for a CFPB review of how to expand access to credit for consumers who lack the credit history needed to obtain credit scores. Comments are due to NAFCU by May 9.

Last month, the CFPB announced it was requesting comments on the use of unconventional sources of information, called "alternative data," as a way for consumers to gain access to credit. The bureau is also exploring risks posed by alternative data that is inconsistent, incomplete, incorrect, overgeneralized or biased, along with any privacy and security concerns.

In its Regulatory Alert, NAFCU noted that the information submitted to the CFPB will be used to help the bureau monitor consumer credit markets and consider any appropriate steps. Comments may also help in the development of best practices.

NAFCU members can submit their comments via the association's Regulatory Alert.

Comments are due to the CFPB by May 19.