Connected lending Standard (CLS) is an open source format for credit and loan policies. One of the things that we (Canopy) found out is that almost every single credit card and loan company has a different way to articulate their policies.
Our goal is to unify the way people talk about credit and loan policies.
Banks: can more quickly evaluate new products
Lenders: can more easily express themselves to others
Consumers: can more easily understand how their products work
Q2 2022: examples of all known credit card policies used in the US
Q3 2022: easier to consume data format
Q4 2022: easier searching/indexing of all known policies