FCRA and Find Out: How Online Lenders Use Alternative Credit Scores to Prey on Communities of Color

FCRA and Find Out: How Online Lenders Use Alternative Credit Scores to Prey on Communities of Color

Communities of color have long been targets of discriminatory lending. Now, in the new digital age, that discrimination has gone online.  Alternative credit scoring is the act of predicting credit worthiness using alternative data points. Namely, our online behavior — what we search, where we shop, even who we connect with. Data brokers collect and sell this information to third parties who eventually determine our access to loans, housing, jobs…