The credit scoring system in the United States, particularly the FICO score, significantly impacts individuals’ access to affordable financing, housing and employment opportunities.
In this blog article, recent ISS MA graduate Conor Farrell shows that though deemed 'colour-blind', the model inadvertently perpetuates racial disparities rooted in historical injustices, particularly slavery.
In his post, Farrell argues that reforms, including AI-enabled credit scoring and policy changes like excluding medical debt from credit considerations, are essential to address these inequities and break the cycle of intergenerational poverty and racial inequality.
Read the full post on ISS blog BlISS - 'How the United States' legacy of slavery influences unequal credit scores and what we can do about it'. BlISS, 20 August 2024.
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