Disrupting Credit Scores
Max discusses the outdated nature of the FICO score and the financial industry's reliance on antiquated systems. He highlights the misalignment of incentives between banks and customers, where late fees generate profits at the expense of responsible financial behavior. With a vision to rebuild the credit scoring system, he aims to create a more equitable approach to financial services that benefits consumers rather than penalizes them.In this clip
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Decoder with Nilay Patel
Recode Decode: Max Levchin, Affirm CEO
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