[isaacdstern]

https://www.linkedin.com/pulse/x-file-banking-isaac-d-stern

[AndyYSCISOdept]

Nice.

[Sean Cash]

I Want To Believe

[TheShitzuofMCA]

cool reading Isaac.

[Ktolbert85]

That was a great comparison Isaac. Its no secret people at the highest levels of power want to control who has access to capital.

[AndyYSCISOdept]

The next question is....Isaac are you Moulder or Skully?

[Funder Mark]

Pretty sure Isaac is one of the conspiracy guys, plotting on how to take over the world.

[AndyYSCISOdept]

Pretty sure Isaac is one of the conspiracy guys, plotting on how to take over the world.

See that's what he wants us all to think...but really he is the guy pulling the strings on the guys running the conspiracy by hiding in plain sight as either Moulder or Skully. That's a heck of a plot twist if I do say so myself.

In all seriousness though, this is a thoughtful article and I am so glad Im on the same side as Isaac.

[Sean Cash]

I have seen the cigarette smoking man (or two or three of them) outside their office.

[isaacdstern]

lol...I am just a simple guy trying to make a buck like the rest of you!!

Pretty sure Isaac is one of the conspiracy guys, plotting on how to take over the world.

[AndyYSCISOdept]

lol...I am just a simple guy trying to make a buck like the rest of you!!

Right....My eyes are rolling like a slot machine

[Funder Mark]

Right....My eyes are rolling like a slot machine

Hell of a way to talk about the boss...

[AndyYSCISOdept]

You're right, because he isn't "simple", not by a long shot, and he is not making a "buck" he put us all I na position to make BIG BUCKS! LOL.

[CreditGuy]

As someone that has worked as a regulator/auditor with OCC, FRB and FDIC, I can assure you there is no grand conspiracy. There are competitive pressures to capture market share, which are healthy and normal in an industry. Where the conspiracy creeps in is that there is high level of regulation, which lends itself to regulatory capture and the largest banks have the funds to lobby heavily for their interests. This also takes place in other industries, but when there is money involved it suddenly becomes evil and driven by conspiracy.

Scores like FICO are empirically proven to assess credit risk using a very large training sample over a very long time. If you want to crow about FICO holding people back, focus on credit education and not the big, mean banks and lenders that shut out lower credit quality applicants who have abused their credit history and creditors. Also, the marketplace lenders like Funding Circle, Lending Club, Kabbage, etc. are developing their own scores, but it will be years until they are as refined and predictive of credit risk as FICO given their current sample size.