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Posts Tagged “

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profit vs fairness

Should Car Insurance Rates Be Based On Your Credit Score?

For a decade now, all the major auto insurers have used a customer's credit rating to some degree in determining premiums. They claim that it results in lower rates for "most" customers, and that the data prove that people with lower credit scores make more claims and for higher amounts. The FTC released a report this summer that validated the practice—but also confirmed an unpleasant truth critics have been saying for years: because a higher percentage of Hispanics and African-Americans have low credit scores, there's a good chance they're disproportionately affected. More »

10:30 AM on Fri Oct 5 2007
By Chris Walters
2,770 views, 74 comments

Latest by EmmaC: Some states won't allow credit scores to be used to determine car insurance rates--like in California. I honestly don't feel a credit rating should have bearing on someone's driving ability. However, some insurance companies offer discounts to engineers, more »

payday

Do PayDay Loan Centers Target Minorities?

Do payday loan centers target minorities? If there's any doubt in your mind, consider an instructional course offered by the Community Financial Services Association of America (CFSA,) a payday loan trade group. The couse is titled, "Building Community Support: Strategies for Business Survival." More »

7:56 PM on Mon Jan 22 2007
By Ben Popken
159 views, 5 comments