The FACT Act of 2003: Notice and Request For Public Comment On the Effects of Credit Scores and Credit-Based Insurance Scores on the Availability and Affordability of Financial Products
This is one of the most discriminating programs developed in recent history. It discriminates against AGE. You will never find an 18 year old and a 45 year old with equal scores. Also, the scoring system discriminates against people who reserve their debt for big ticket items such as their home, and pay cash for everything else. It forces people to get credit cards they don't need or want, because without them they will have low scores that prevent them from getting the financing they need for things like a home. Age discrimination is already against the law, but credit scoring seems to give financial institutions the ability to be exempt from prosecution.