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Equifax coding error may have resulted in errors to consumer credit scores
- james-redwood 4y agoDo these scandals never end?
- melenaboija 4y agoCoding errors happen, I think the scandal is the credit score system in general. Its lack of transparency and the power given to these companies is what makes these problems to have bad consequences.
- EddieDante 4y agoWe should have revoked Equifax's charter and dissolved the corporation back in 2019. https://equifuxusall.com https://equifuxusall.com
- thecleaner 4y agoAnother one. These folks are practically morons. We need an open source, verified credit rating algorithms. Credit rating should be treated with the same respect as computer security.
- MathMonkeyMan 4y agoI'm afraid it is. I like the idea of open source credit scoring. But then who gets the underlying data?
- thecleaner 4y agoBring your own data. Most FinTechs would be glad to have a "get your own rating usin the Blah model" feature. The older dinosaurs need not comply.
- ewagsjr 4y agoDid it make the credit scores better or worse?
- melenaboija 4y agoAccording to this information [1] has not been revealed and supposedly affected 12% of credit scores calculated from March 16 to April 6. [1] https://www.inman.com/2022/05/31/equifax-coding-issue-possibly-skews-thousands-of-mortgage-credit-scores/ https://www.inman.com/2022/05/31/equifax-coding-issue-possib...