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Opinion by: Dr. Scott Lehr
In the early 2000s, getting a loan in the United States without verifying your income or assets was possible. It was called a “no-doc” or “low-doc” loan. The aim was to help self-employed or contract workers, but it was widely abused. Today, lenders verify income, assets, debt and employment.
Whether the centralized fraternity likes it or not, the financial world is changing. What once required W-2 wage-and-tax forms, gatekeepers and credit files is now being rebuilt on transparency, autonomy and a blockchain…
