Supposedly there is a stat that charges more interest for some females than males, and Congress gets involved because that's discriminatory. Meanwhile since the invention of auto insurance 16 year old boys are charged more than 16 year old girls because stats show there is a reason...and that's acceptable.
Just gonna grab my popcorn and watch this one unfold.
Teen boys have a history of recklessness comparative to teen girls, I do not think women are a higher credit risk compared to men. This is what this is about.
Both cases are discrimination based on gender. Whether people are personally comfortable discriminating against men or women is irrelevant, legally neither should be allowed and the insurance issue has been ruled on legally:
What's crazy is that the insurance issue went unresolved for years and women were in support of gender discrimination because they were financially better off. This highlights another area of discrimination, which is the amount of attention given to who feels they are being discriminated against. It also shows that generally people are not motivated by equality but their self-interest.
The reasoning behind preventing using factors like gender is simple. Just because most people who share the same physical characteristics behave a certain way, it doesn't mean they all do so discriminating based on those common factors is unfair and this applies to everyone, men and women.
People should be assessed on their individual status. It's worth investigating whether some credit card companies are using factors like gender in their assessment and they can do the same as they did for insurance. I expect there will still be differences in credit for couples but there won't be any uncertainty about it being due to companies using gender in the assessments and they can setup shared credit features. I can't imagine why a credit card company would even use gender in an assessment when a credit history and income levels are far more reliable.
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https://www.cbsnews.com/news/car-insurance-california-bans-gender-as-a-factor-in-setting-rates/
What's crazy is that the insurance issue went unresolved for years and women were in support of gender discrimination because they were financially better off. This highlights another area of discrimination, which is the amount of attention given to who feels they are being discriminated against. It also shows that generally people are not motivated by equality but their self-interest.
The reasoning behind preventing using factors like gender is simple. Just because most people who share the same physical characteristics behave a certain way, it doesn't mean they all do so discriminating based on those common factors is unfair and this applies to everyone, men and women.
People should be assessed on their individual status. It's worth investigating whether some credit card companies are using factors like gender in their assessment and they can do the same as they did for insurance. I expect there will still be differences in credit for couples but there won't be any uncertainty about it being due to companies using gender in the assessments and they can setup shared credit features. I can't imagine why a credit card company would even use gender in an assessment when a credit history and income levels are far more reliable.