Equifax coding error may have resulted in errors to consumer credit scores

We should have revoked Equifax's charter and dissolved the corporation back in 2019.

Another one. These folks are practically morons. We need an open source, verified credit rating algorithms. Credit rating should be treated with the same respect as computer security.

I'm afraid it is.

I like the idea of open source credit scoring. But then who gets the underlying data?

Bring your own data. Most FinTechs would be glad to have a "get your own rating usin the Blah model" feature. The older dinosaurs need not comply.

Do these scandals never end?

Coding errors happen, I think the scandal is the credit score system in general.

Its lack of transparency and the power given to these companies is what makes these problems to have bad consequences.

Did it make the credit scores better or worse?

According to this information [1] has not been revealed and supposedly affected 12% of credit scores calculated from March 16 to April 6.

[1] https://www.inman.com/2022/05/31/equifax-coding-issue-possib...