#creditscoring (4 results)

Pixelated images of pregnant women running on a race track, dynamically posed but distorted due to limited data availability. They are holding cards that read “error cannot generate,” symbolizing the struggle to accurately represent such dynamic figures due to inadequate online resources.

Flagged by the Algorithm: Klarna Thought I’m a Fraudster

Flexible payment company Klarna’s automated systems flagged a user for allegedly failing to pay for an online order. She had been told that a glitch in the platform prevented her from paying, and then Klarna’s algorithms sent her straight to a defaulter list she could not leave without an administrative hassle. Here is her story.

In Poland, a law made loan algorithms transparent. Implementation is nonexistent.

Since May 2019, and as a first in the EU, Polish consumers have the right to know in detail why a bank decided to grant or refuse them a loan, even for small amounts. But in practice, banks are still reluctant to provide such information.

This man had his credit score changed from C to A+ after a few emails

A 52-year-old man in Hanover, Germany, discovered that he’d been erroneously scored by a credit bureau. His story reveals the gaps in credit score regulation.

Credit scores algorithms keep operating normally even as everything else doesn’t

Consumer organizations are calling for a credit score freeze but credit bureaus see no need to change anything as the Covid-19 pandemic wreaks havoc in the finances of many.