Social Security Number Assignments: Coincidental, Intentional or Urban Legend?
8 Pages Posted: 16 Oct 2013
Date Written: October 13, 2013
One can agree that the Social Security Administration does issue social security numbers for the purpose of calculating retirement, social security benefit recipients and data organization. However, three major credit bureaus use the same issued social security numbers as part of their data to assist lenders, property managers, and employers in decision making concerning the applicant. Moreover, the credit bureau agency issues credit score data based on geographical locations of the people seeking credit. Credit bureau agencies compile data in target groups and compare the controlled data to compose individual credit scores which is attached to individual social security numbers. Perhaps the even fifth digit of the social security “group number” segregation is a myth, urban legend, or coincidental. However, if this is intentional data, this data may concur with the separation of the United States born whites from other races, ethnicities, immigrants, and internationals. The data may correlate with lower credit scores and unequal lending opportunities or higher interest rates.
Keywords: Credit Reporting Agencies, Social Security Numbers, Demographics, Racial Coding
JEL Classification: R00
Suggested Citation: Suggested Citation