Does race play a part in commercial credit scoring?
I read with interest in the FT on Saturday about a commercial credit agency in the UK that gave a profitable UK company a poor rating, due partly to the fact that neither director was a UK national. One of the directors of Powerchex called the action of agency Creditsafe discriminatory. I must say, i was surprised to see this in the paper. Being a Managing Director of a credit reference agency myself, i know the characteristics that make up our own scorecard, and race of Directors is certainly not present in the list .
In this case, the two Directors were Americans living in London.
I sincerely hope that as a nation, we don’t send out a message to the world that there is no point their entrepreneurs coming to Britain because even if they succeed in building a strong business, they won’t enjoy a good credit rating here!!!!
For more ,please see the FT article from 25th april-
http://www.ft.com/cms/s/d2d6ae06-3028-11de-88e3-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fd2d6ae06-3028-11de-88e3-00144feabdc0.html&_i_referer=
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