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Fintech Takes: Credit Scores, Cash Flow, and the Coming Trust Collapse

Fintech Takes

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The Rise and Risks of FICO Scores

This chapter examines the historical development and significance of credit scoring, particularly focusing on the FICO score. It analyses how the standardization of credit evaluation transformed lending practices, while also highlighting the dangers of over-reliance on credit scores leading up to the 2007 financial crisis. The discussion includes key legislative milestones and the impact of credit scores on systemic financial issues, emphasizing the importance of understanding credit risk through a broader lens.

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