05/18/2015
https://www.congress.gov...
"There are lots of ideas that we hear, and the one idea that very seldom gets discussed is what about personal freedom?"
"So you are rejecting applications from 80 to 85 percent of the applicants because they do not meet your credit standards?"
"The kind of underwriting you do would not have been possible, certainly, 10 years ago, probably not even 5 years ago."
"So, you are not able to set any old rate you like, because if you do, someone else who competes with you will set, presumably, a lower rate and competition imposes a discipline in this space."