Biden to change and regulate Credit Scores/Reports

[coffeebean]

https://www-forbes-com.cdn.ampproject.org/v/s/www.forbes.com/advisor/credit-cards/president-bidens-plan-to-change-credit-reporting-and-scoring/?amp_js_v=a6&amp_gsa=1&amp&usqp=mq331AQHKAFQArABIA%3D%3D#aoh=16138863861076&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.forbes.com%2Fadvisor%2Fcredit-cards%2Fpresident-bidens-plan-to-change-credit-reporting-and-scoring%2F

[coffeebean]

Lots of basic info in the beginning but gets interesting towards the end. https://youtu.be/MlDHV6kKGVY

[AsherO]

https://www-forbes-com.cdn.ampproject.org/v/s/www.forbes.com/advisor/credit-cards/president-bidens-plan-to-change-credit-reporting-and-scoring/?amp_js_v=a6&amp_gsa=1&amp&usqp=mq331AQHKAFQArABIA%3D%3D#aoh=16138863861076&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.forbes.com%2Fadvisor%2Fcredit-cards%2Fpresident-bidens-plan-to-change-credit-reporting-and-scoring%2F

At the end of the day banks will work with what stratifies risk the best for them, not what suits the libs’ agenda most.

[gozalim]

evidently the goal never was about fixing the CR business, just an opportunity to nationalize it.
i'm sure that will go well...

[zh cohen]

At the end of the day banks will work with what stratifies risk the best for them, not what suits the libs’ agenda most.

Setting up a government system is just the first step towards requiring that banks use it (or prosecute them for racism if they don't).

[Euclid]

I would love some transparency around credit scoring algorithms.
https://forums.dansdeals.com/index.php?topic=112653.0

[AsherO]

I would love some transparency around credit scoring algorithms.
https://forums.dansdeals.com/index.php?topic=112653.0

The downside of transparency is that it makes it easier for people to game the system, artificially inflating their score and masking the items should have organically produced a lower score.