Your credit score rating performs a serious position in your life, impacting your skill to hire an residence, purchase a home, get a bank card, and even how a lot you pay for auto insurance coverage. These three-digit numbers, graded on a scale that resembles the SAT, have grow to be extra accessible to shoppers as a consequence of current modifications in legislation, expertise, and enterprise. Credit score scores are clearly impactful within the lives of Individuals, however are they being created precisely, pretty, and with correct regulatory oversight? Is there a greater means?

Credit score scores are constructed on credit score experiences, information stored on most Individuals by a number of giant credit score reporting bureaus. What are these experiences and scores made from? How correct are they? Who ensures they’re honest and correct?

On December 7, the Middle on Regulation and Markets convened a gaggle of specialists to debate these questions, following opening remarks from Rep. Ayanna Pressley (MA-07), and get to the core of the problem: Are credit score scores and credit score experiences the correct methodology for society to allocate credit score? In that case, how can they be improved? If not, what ought to exchange them?

Viewers submitted questions for audio system by emailing occasions@brookings.edu or by way of Twitter utilizing #CreditScore.