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In this week's FinCap Friday, we check out the most recent update about credit scores that was shared recently by FICO. While there is not a lot of information out yet about the details, representatives have said that this new model will be in effect in the summer of 2020 and lenders may be ready to adopt it starting in 2021. What are the major changes being made to the current FICO scoring model and how will these changes affect people? Find out below in the latest FinCap Friday:

If you're short on time, try our simplified FinCap Friday (No Tech) with the questions embedded right into the slide deck!

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Check out all of our FinCap Friday episodes here. They're not date-dependent so any of the 60+ in our catalog dating back to August 2018 can work throughout the coming year!

About the Author

Yanely Espinal

Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her 10 nieces and nephews!