Calvin Bradford is with Calvin Bradford and Associates, Ltd., Williamsburg, Virginia.
Credit Scoring and Its Effects on the Availability and Affordability of Credit
Version of Record online: 18 SEP 2009
Copyright 2009 by The American Council on Consumer Interests
Journal of Consumer Affairs
Special Issue: Privacy Literacy- How Consumers Understand and Protect Their Privacy
Volume 43, Issue 3, pages 516–537, Fall 2009
How to Cite
AVERY, R. B., BREVOORT, K. P. and CANNER, G. B. (2009), Credit Scoring and Its Effects on the Availability and Affordability of Credit. Journal of Consumer Affairs, 43: 516–537. doi: 10.1111/j.1745-6606.2009.01151.x
- Issue online: 18 SEP 2009
- Version of Record online: 18 SEP 2009
The Fair and Accurate Credit Transaction Act of 2003 (the FACT Act) directed several federal agencies to conduct studies related to the credit reporting industry. A primary concern was the accuracy and fairness of the credit reporting and scoring systems. In this article, Federal Reserve System Board economists report on a study in which they examined various issues related to credit scoring, including how credit scoring has affected the availability and affordability of credit. In a responding commentary, Calvin Bradford notes flaws and deficiencies in the Federal Reserve System study.