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Illustration: Aïda Amer/Axios

The creator of FICO credit scores is enacting changes in how it rates consumers' debt levels and their speed of repayment, the Wall Street Journal reports.

Why it matters: The decision, which impacts the most widely used credit score in the U.S., could lower the scores of those who fall behind on loan payments, sign up for personal loans or have rising debt levels, likely making it harder for many Americans to get approvals for loans.

  • Consumers with high scores already will likely receive higher scores than under previous FICO versions. Meanwhile, people with low scores who continue to miss payments or accumulate debt will experience larger score declines.
  • Fair Issac Corp., the creator of FICO scores, said the alterations will produce a larger gap between consumers with good and bad credit risks.

The big picture: Up until now, FICO and other credit-reporting companies embraced changes that helped increase scores, such as removing certain information from credit reports.

Go deeper:

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Hospital crisis deepens as holiday season nears.
  2. Vaccine: Moderna to file for FDA emergency use authorizationVaccinating rural America won't be easy — Being last in the vaccine queue is young people's next big COVID test.
  3. Politics: Bipartisan group of senators seeks stimulus dealChuck Grassley returns to Senate after recovering from COVID-19.
  4. States: Cuomo orders emergency hospital protocols as COVID capacity dwindles.
  5. Economy: Wall Street wonders how bad economy has to get for Congress to act.
  6. 🎧 Podcast: The state of play of the top vaccines.
2 hours ago - Health

First blood test to help diagnose Alzheimer's goes public

Photo: Jerry Naunheim Jr./C2N Diagnostics via AP

A non-COVID medical breakthrough: People over 60 now have access to a blood test for Alzheimer's disease.

Why it matters: The existing PET brain scan test costs some people about $5,000 and often isn't covered by insurance, AP reports.

Updated 2 hours ago - Politics & Policy

Wisconsin, Arizona certify Biden's victories

Photo: Demetrius Freeman/The Washington Post via Getty Images

Arizona and Wisconsin officials confirmed the presidential election results in their states, formalizing President-elect Joe Biden's victories in the key battlegrounds.

Why it matters: The moves deal yet another blow to President Trump's efforts to block or delay certification in key swing states that he lost.