Your Loan is More Likely to be Approved if Your Bank Does This

Published by
The Street

By Brian O’Connell Eliminating a key roadblock can help borrowers and lenders. There’s good news and bad news when it comes to credit scoring agencies and bias. The good news is that credit scoring companies are taking active steps to curb historic bias in credit scoring decisions, such as allowing rental payments to be factored into credit decisions and improving the accuracy of predictive tools that are routinely less accurate (by up to 10%) for lower-income and minority credit applicants. The bad news? Historic bias still exists in the credit scoring market and it’s hurting financially disa…

Read More

See also  Splunk Is Suddenly Looking Like A Slam Dunk

Leave a Reply