There is “no compelling evidence” that the use of credit scoring discriminates against minorities, the Federal Reserve Board says in a new report–cited by insurers as further evidence their use of the controversial tool in helping to set rates is not unfair or unreasonable.

The Fair and Accurate Credit Transactions Act of 2003 directed the Fed and the Federal Trade Commission to study the effects of credit scoring on credit and insurance markets, respectively, and to report their findings to Congress. The Fed’s report covers credit markets, while the FTC focused on the use of credit scoring in setting insurance prices.

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