Over the last three decades the financial industry has created a beautiful loop for itself. This “loop” has not only allowed them to dominate financial dealings throughout the world, but has increasingly allowed them to be the most dominate group of organizations on the planet.
Since the 1950’s, Fair Isaac Corporation, (FICO) has been the major system for determining our three digit credit scores. Now, the three major credit repositories, Trans Union, Equifax, and Experian, all multi-billion dollar corporations, have pooled some of their considerable resources to create a new scoring system that incorporates a variety of factors not present in the FICO scoring system.
When President Trump was campaigning for office he made several promises about making the country great again. Just how much work will be involved in achieving that goal and what specific areas need to be addressed first if we are going to see the fruits of those efforts in the near future?