Without the data, I have a hard time believing this. Especially since I had to explain the concept.
Even if that were the case, you're still left with a small set of conclusions about race and its correlation to FICO score.
1) Non-white people are worse at maintaining credit scores because of something inherent to the condition of non-whiteness. This conclusion quickly points in the direction of racist psuedo-science.
2) Social and economic forces do not act equally on people of different skin colors. This is easily proven true by the example discussed by AOC and ta'nehisi coates of people of color being explicitly excluded from provisions the New Deal, an issue that has compounded the inequality between people of different racial backgrounds. This is directly applicable to FICO scores as white people are more often able to access generational wealth to pay of debts and avoid low credit scores whereas people of color are not.
Sooo, in the case of FICO, even if the score doesn't contain subtle proxies for race which I doubt, it is still predicated preserving a system that contains intense racial bias.
Some people dont value FICO scores and so theirs are likely to be lower. This would fall outside of the only two models that you proposed. It requires cultural difference which some people value highly.
If you cannot accept the FICO as non-racist, then I do not know if you could create a system that others would not find racist. I cannot think of a way that your system would not end up with some form of explicit race-based corrections. I think that concept is less palatable in America due to the focus on freedom/individuality. Each person should stand on their own, not colored by the groups that you could fit them in.
Just curious if you have an opinion: how do you propose correcting for the past?
Lastly, you can look up the determinants of a FICO score for yourself as you can use sources that you trust.
Are you saying that even if certain groups of people are less likely to be able to repay debt (for reasons outside their control), it is still racist if their FICO scores are lower?
I think you want FICO scores to mean something that they don't mean.
Even if that were the case, you're still left with a small set of conclusions about race and its correlation to FICO score. 1) Non-white people are worse at maintaining credit scores because of something inherent to the condition of non-whiteness. This conclusion quickly points in the direction of racist psuedo-science. 2) Social and economic forces do not act equally on people of different skin colors. This is easily proven true by the example discussed by AOC and ta'nehisi coates of people of color being explicitly excluded from provisions the New Deal, an issue that has compounded the inequality between people of different racial backgrounds. This is directly applicable to FICO scores as white people are more often able to access generational wealth to pay of debts and avoid low credit scores whereas people of color are not.
Sooo, in the case of FICO, even if the score doesn't contain subtle proxies for race which I doubt, it is still predicated preserving a system that contains intense racial bias.