Is any public interest group addressing credit score issues?

I am convinced that the process of assigning credit scores in the way it is done now in the USA is unfair to people and gives lenders a reason to overcharge, for insurance companies to raise rates, for employers and landlords to reject people, and to punish people overwhelmed with medical bills or other sudden problems. The secret nature of the formulas used is bad enough, but we have to PAY to see our scores. I am also pretty sure that minority groups have lower scores and therefore the credit score is a proxy for race. If you reject low credit score people you are not guilty of reace discrimination. Well maybe not... Am I alone in thinking this or is there a group I can support?

---

1) There is no race basis in credit score calculations. If their score is lower it means they probably didn't pay their bills on time. If you want to see your credit score for free apply for a mortgage and they will tell you what it is. What is bad is when there is an error and they won't fix it until you write the FCRA letter. You are with the race baiters in thinking this.

2) There was a testimony before the Committee on Homeland Security and Governmental Affairs, Permanent Subcommittee on Investigation regarding Credit Card Practices; Fees, Interest Rates, and Grace Periods on March 7, 2007 by the following: Alys Cohen, Staff Attorney for the National Consumer Law Center. 1001 Connecticut Ave NW Suite 510, Washington, D.C. Phone (202) 452-6252. acohen@inclcdc.org., also on behalf of: Consumer Action Demos, National Association of Consumer Advocates, and The U.S. Public Interest Research Group. I would like to see as many people as possible become involved with the credit card abuse by banks, and other lending institutions. I believe you will find this material very good reading. You can go on-line and print the report.

Privacy Policy | Contact Us