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Unfair Mortgage Act ~ opinion piece by Scott Andrew Alpaugh

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The Biden Administration wants to implement a new unfair discriminatory rule that aims to make those with higher credit scores subsidize lower credit scores through extra fees. Credit scores are supposed to be a fair and objective measure of a person's creditworthiness, based on their payment history, debt level, credit mix, and other factors. However, many critics have argued that credit scores are inherently biased and discriminatory, reflecting and reinforcing racial and economic inequalities in our society. According to a recent report by the Consumer Financial Protection Bureau (CFPB), there are significant disparities in credit scores among different racial and ethnic groups. For example, the average credit score for white consumers is 734, while the average score for Black consumers is 677, and for Hispanic consumers is 701. These gaps can have serious consequences for access to affordable credit, housing, education, and other opportunities. To address this issue, some polic