TransUnion Supports Federal Reserve Board's Findings on Credit Scoring; Research Validates Predictability and Objectivity of Scoring Models
14 August 2007
PR Newswire (U.S.)
CHICAGO, Aug. 14 /PRNewswire/ -- The Federal Reserve Board's (FRB) division of Research and Statistics latest study concluded that credit scoring "has contributed to improved credit availability and affordability" and is "predictive of credit risk for the population as a whole and for all major demographic groups." The study concerning the effect credit scoring has on the availability and affordability of credit on various population segments was mandated by Section 215 of the 2003 Fair and Accurate Credit Transactions Act of 2003 (FACT Act).