How Credit Scores are Scamming You

Credit scores are a ubiquitous part of American life. Try to do anything at all – get housing, get a car, get anything that requires a loan – and you’ll be assessed based on a three-digit number that most people recognize as arbitrary and dumb. So what’s the origin of this weird system? Law professor Chase Madar explains the sinister trends behind the rise of the credit score.

Citations: https://shorturl.at/ryAIT

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0:00 What are credit scores?
1:51 A journey to the ’70s
4:32 Enter the ’80s
6:57 Creating "debt-prone consumers"
11:00 Credits