Creditcards.com, February 9, 2022, How to address the racial credit score gap
The effects of racial discrimination are apparent in all aspects of financial life, with people of color and white people operating on two uneven playing fields. New programs like Experian Go aim to reach people who have traditionally been excluded from financial systems by turning the traditional credit scoring method on its head.
Though redlining and discrimination based on gender or race are both illegal, the National Community Reinvestment Coalition found that “While overt redlining is illegal today, having been prohibited under the Fair Housing Act of 1968, its enduring effect is still evident in the structure of U.S. cities.” This fact can be seen in all facets of finance in America, but it is particularly apparent in the racial credit score gap.
