Fallacy: Credit scoring is unfair to minorities.
Fact: Scoring considers only credit Рrelated information. Factors like gender, race, nationality and marital status are not included. In fact, the Equal Credit Opportunity (ECOA) prohibits lenders from considering this type of information when issuing an Independent research has been done to make sure that credit scoring is not unfair to minorities or people with little credit history. Scoring has proven to be an accurate consistent measure of repayment for all people who have some credit history. In other words, at a given score, non-minority applicants are equally likely to agreed.