Political Quotes

“the amendment I am offering expresses the sense of the Senate that an individual's creditworthiness should be judged on his or her own credit history and not on where that individual happens to live. The amendment also requests that a report be made to the Banking Committee within 6 months on whether and how location of the residence of an applicant seeking unsecured credit is routinely considered by companies and financial institutions in granting credit. Mr. President, the stereotyping of consumers based on where they live is a social evil with very negative social consequences. The Congress has been instrumental in formulating legislation that seeks equal credit opportunity for all. If creditworthy persons can be rejected on account of his or her place of residence, our work is incomplete. When people in a neighborhood or other geographical area are told that the place where they live is the reason or a reason for their being denied credit, that neighborhood or that other geographical area is hurt as well as the people living it. Mr. President, credit applicants should be considered on the basis of their individualized creditworthiness and not on the basis of spurious statistical correlations which some companies have decided to utilize as part of a point system in establishing whether or not someone gets credit.”