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In addition it stops banking institutions from making loans accessible to creditworthy borrowers

In addition it stops banking institutions from making loans accessible to creditworthy borrowers

Having said that, some information may lack a clear nexus to creditworthiness.

These information could be seen as proxies or signals of possible creditworthiness or income that is future. Generally speaking, the greater amount of speculative the nexus with creditworthiness, the bigger the lending risk that is fair. 23 you can easily find samples of correlations between factors which are not meaningfully associated. 24 even when the information possess some foundation that is predictive into the level the info are correlated with competition or other forbidden bases beneath the reasonable financing rules, careful analysis is important. For instance, we realize that some loan providers start thinking about where a job candidate went along to school or an applicant’s degree of training. These information must be very very carefully examined for legal conformity before used.