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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Bid Buster who wrote (193701)9/25/2002 5:52:09 PM
From: Oblomov  Read Replies (1) of 436258
 
People can file suit for anything- this is their right. That does not mean that the suit is grounded in fact and reason.

I don't know the details of what the suit alleges.

But, first, I don't understand why anyone is compelled to use FNM's automated underwriting system. There are many other ways to get credit.

Second, credit scores were developed in order to remove judgements based on race, sex, economic/social class, etc from the credit evaluation process. It was a response by the banking industry and the US Congress to charges of redlining.

In order to do this, however, our financial privacy has been compromised.

Maybe the next step is to race-norm credit scores as many colleges do SAT scores. Then we could render credit scores meaningless as well.

Then I'm sure the US Congress will comply by further compromising our financial privacy.
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