[brokentone]

Wonderful post, so glad that Mrs. Hansson stepped out for this cause, as uncomfortable as it was.

I've personally wondered at credit scores + credit offered for a long time. The amount of regulation provides wonderful cover for these big institutions to really do whatever they want and lean back on "algorithms" / that they can't override the policy due to regulations, etc. Meanwhile, it's becoming more clear that the algorithms have encoded biases. In addition, the whole credit system is not one of those things you can opt out of (if you ever want a home or car, which I get, not everyone needs), and the whole thing is based on previous borrowing, so responsible (using cash) or underprivileged (never had the chance to start the credit bootstrap) folks are extremely disadvantaged.

The interesting twist in this story that I find damning is that Apple actually overrode the algorithm due to pressure -- this pokes a HUGE hole in this "cover" these institutions have created to date.