Re: New Bias Charges Against FICO Scores ..... unfair to minorities
07-15-2012 05:37 PM
Nobody is saying that the formula is biased. People are asking for a kind of 'Affirmative Action' for FICOs when dealing with certain races..... just so black people have a better chance to succeed.
Good point Dave. AA is misunderstood a lot; it's not a quota system, it just basically requires that people be able to prove they didn't discriminate against a specific protected class...
However, if we adjust the scale based on ethnicity, shouldn't we also do the same for the other protected classes? That would include age, gender, race, religious belief, family status, veteran status, disability... Ask yourself, do Catholics have better or worse credit than the Jewish? Scientologists?
I am going to cover myself on my next app. I am going to put my nationality down as a male White, African American, Hispanic, Asian mix.
Awesome, for highest FICO boost!