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Scoring products (sometimes referred to as "risk scores" or "credit scores") are
|“||predictive models based on analyses of historical consumer credit history and performance data. When a consumer applies for credit or insurance, the models use information in the consumer's credit history to predict the risk posed by that consumer. The risk is typically summarized in a numerical score.||”|
"Each scoring model may treat disputed information differently and the exact nature of the scoring model algorithm is proprietary. Specific information currently under investigation may not be used in calculating a credit score (e.g., if a consumer disputes a particular late payment, that late payment is not considered when the credit score is determined)."
- ↑ Report to Congress Under Section 319 of the Fair and Accurate Credit Transactions Act of 2003, at 2 n.6.
- ↑ Id. at 4 n.14.