From Yahoo Finance: 2025-05-10 10:09:00

1. Congressional Democrats and regulatory agencies are scrutinizing fintech tools like Credit Karma and NerdWallet that help people with lower credit scores or limited credit history get credit.
2. The Consumer Financial Protection Bureau (CFPB) attempted to implement regulations to eliminate abusive practices despite research showing that comparison-shopping tools allow consumers to make more informed choices.
3. Older Americans are amassing credit card debt to cover expenses, with comparison shopping tools like Credit Karma helping individuals obtain credit.
4. Americans’ credit card and household debt have reached an all-time high, with concerns about government agencies creating comparison tools that may compete with existing sophisticated systems.
5. A report warns of possible over-regulation and oversight of platforms like Credit Karma and NerdWallet that provide vital alternatives to traditional banking, emphasizing the importance of consumer choice and informed decision-making.

Read more at Yahoo Finance: Products such as Credit Karma and NerdWallet benefit consumers, do not harm them: report