Trump Is Trying to Use Credit Scores to Keep Immigrants Out of the U.S.

Slate

The Trump administration's latest attack on immigrants, a proposed rule that would punish families for accessing public benefits, has rightfully come under fire for its potential to threaten children's health and impose financial hardship on households and communities. Under the proposal, the Department of Homeland Security could block green cards and visas for lawful immigrants who use, or are considered likely to use, essential family support programs. Across the country, there is already widespread evidence that merely proposing changes to the "public charge" rule is causing fear and confusion, deterring families from accessing basic necessities such as food, housing, and health care out of fear that their future in the United States may be put at risk. Business leaders, physicians, teachers, and food bank operators are among the groups speaking out against the prospective change. But one part of the proposal has received less attention: a bizarre plan for officials to use immigrants' personal credit information (credit reports and scores) as part of the assessment to qualify for a green card or visa.


Ranking All 50 States by Average Credit Score of its Citizens

@machinelearnbot

This article was contributed by Statistical Future. Whether you want it to or not, credit and its availability plays a major role in everyone's life, whether or not you directly experience it. For the average person, credit scores are mainly going to be used for three things: buying a house, buying a car, and using credit cards. In the world of business, things get exponentially more complicated and it also ended up leading to a horrible housing crash and recession about a decade ago. I'm not really interested in getting into that suffice to say that when I bought my house, they supposedly required about 5 times the paperwork they would have if the same standards from 2006 were still in place.


Ranking All 50 States by Average Credit Score of its Citizens

@machinelearnbot

This article was contributed by Statistical Future. Whether you want it to or not, credit and its availability plays a major role in everyone's life, whether or not you directly experience it. For the average person, credit scores are mainly going to be used for three things: buying a house, buying a car, and using credit cards. In the world of business, things get exponentially more complicated and it also ended up leading to a horrible housing crash and recession about a decade ago. I'm not really interested in getting into that suffice to say that when I bought my house, they supposedly required about 5 times the paperwork they would have if the same standards from 2006 were still in place.


5 misconceptions that might hurt your credit score

PBS NewsHour

The personal finance website NerdWallet released a survey Tuesday that examines what Americans know and don't know about credit cards. Here are five of the misconceptions highlighted in the report. After putting off getting a credit card for years (I didn't like the idea of carrying any more debt), I finally took the plunge this spring -- but not before taking a dive into credit card dos and don'ts. All the advice I had on credit cards seemed to conflict. It's good to keep a balance, and be sure to pay your full balance every month.


Fintech players rely on AI to build credit scores for disbursal of loans – Tech Check News

#artificialintelligence

The lack of credit details has led to the emergence of analytics start-ups that are working on ways to develop alternate data-based lending programs to offer personal loans Now, customers with no prior credit score can easily get loans Priyanka Pani The burgeoning online lending segment in India is also giving rise to a new kind of challenge on sourcing credit score data. To solve this problem, several fintech companies are using Artificial Intelligence (AI) and Machine Learning (ML) to create alternate lending data score for more than 80 per cent of the Indian population who have no credit scores. From the place where people live to the restaurants they visit to their digital footprints on social media, ML captures it all. Live data Mohan Yadav, a 25-year-old software professional in Mumbai, was denied a ₹25,000 personal loan by his bank since he had no credit history.