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The show is a co-production of WNYC Radio and Public Radio International, in collaboration with The BBC World Service, New York Times Radio and WGBH Boston.
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Comments [1]
Do you think companies like Fair Isaac, which created the FICO score, should do more to support financial literacy. How many people know what a FICO score is. Has professor Lusardi studied that.
I was amazed to see a full page chart on the history of credit cards in this country, in a the major front page New York Times on Sunday about America's Debt woes, that does not even mention the FICO score.
One could argue that FICO score enable the bankers to feed the minimum payment balance problem where banks get rich and consumers get poor. But if we were all more financially literate the FICO score could be a tool to improve our financial health. I am writing a book about this, and before I started writing it I didn't know what a FICO score was.
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