Question 1 For moghly half a century lends have been passing through a revolution in their methods of sapplying credit to the public. Theough much of their liest histeylonesgonerated gratis by Sondag the traditional way. Funds were raised mainly by selling deposits to the publicatam niere me and then letting them to burmes at higher interest rate The bulk of toker's probits come from the margin or spevad between deposit sed loanstes Theme margins we nearly always positive and populaed by sia govemmit rules that maximum interest rate ceilings. In this environment mostenders served as boho ginates and lom. Repers, as way loans granted were most often Repe on the alginating lender's balance she Beginning in the 1970s and 1960s, however, a new financial system began to fall with w Ima loosering many of the old rules so that depice me, low rates, and lending marans become mer flexible, but also more sky Sutely new les pared, peoking depositey institutices les state lines and gevad their lending adivities ultimely around the world. The Demo liberal getuien rules used in a wave of mation as lenders became more creative in these thinking about how to make money from lending my With low esto mal control the traditional lending model was placed by a wrw londag made with twende tur man riska growing roster of financial timsalopeedmputer diges such as credit scoring to evaluate their borgarstomers. The traconal me of the officer in personally visiting clienes and assessing their headed increasingly is placed by personal, Migliolume me methods the awarded points for various betower curacteristics, Indoding each bomower's lo repayment med The borrower's menica scure in points became the best of proval se dental of a lom with bimwer and Tender at ally confronting each Required ar The trail me of the Interpretually visiting dients and sting character faded incingly placed by impersonal, high-volume compte method that wanted postovaus bewer characelsis Explain your fill inderstanding of this statement est relates to consumer cedit and disting on whatter the same statement can hold for compucale lendng 20 marks) bExplain wht credit scoring is, how the system work and its majelistus (10 m Question 1 For moghly half a century lends have been passing through a revolution in their methods of sapplying credit to the public. Theough much of their liest histeylonesgonerated gratis by Sondag the traditional way. Funds were raised mainly by selling deposits to the publicatam niere me and then letting them to burmes at higher interest rate The bulk of toker's probits come from the margin or spevad between deposit sed loanstes Theme margins we nearly always positive and populaed by sia govemmit rules that maximum interest rate ceilings. In this environment mostenders served as boho ginates and lom. Repers, as way loans granted were most often Repe on the alginating lender's balance she Beginning in the 1970s and 1960s, however, a new financial system began to fall with w Ima loosering many of the old rules so that depice me, low rates, and lending marans become mer flexible, but also more sky Sutely new les pared, peoking depositey institutices les state lines and gevad their lending adivities ultimely around the world. The Demo liberal getuien rules used in a wave of mation as lenders became more creative in these thinking about how to make money from lending my With low esto mal control the traditional lending model was placed by a wrw londag made with twende tur man riska growing roster of financial timsalopeedmputer diges such as credit scoring to evaluate their borgarstomers. The traconal me of the officer in personally visiting clienes and assessing their headed increasingly is placed by personal, Migliolume me methods the awarded points for various betower curacteristics, Indoding each bomower's lo repayment med The borrower's menica scure in points became the best of proval se dental of a lom with bimwer and Tender at ally confronting each Required ar The trail me of the Interpretually visiting dients and sting character faded incingly placed by impersonal, high-volume compte method that wanted postovaus bewer characelsis Explain your fill inderstanding of this statement est relates to consumer cedit and disting on whatter the same statement can hold for compucale lendng 20 marks) bExplain wht credit scoring is, how the system work and its majelistus (10 m