From the Document: "'Alternative data' generally refer to information used to determine a consumer's creditworthiness that the national consumer reporting agencies--Equifax, Experian, and TransUnion--do not traditionally use to calculate a credit score. These reporting agencies generally create consumer reports containing historical information about repayment on credit products such as mortgages, student loans, credit cards, and auto loans. Credit applications, bankruptcies, and debts in collection also are regularly included. In contrast, alternative data include additional consumer financial data not regularly contained in traditional credit files. New technology makes it possible for financial institutions to gather other information, including financial and nonfinanical data, from a variety of sources."
CRS In Focus, IF11630
Congressional Research Service: https://crsreports.congress.gov/