There was another article recently which argued that because there is a strong correlation between race and default rates, if you apply machine learning to a dataset, the algorithm will find a way to extract what is basically a proxy for the race from the data.
So basically any sort of ML applied to credit data will run afoul of the equal credit opportunity act.
The article also made the point that basically all ML credit scoring startups are illegal because of this, but they get away just because they are small and not on the radar.
So basically any sort of ML applied to credit data will run afoul of the equal credit opportunity act.
The article also made the point that basically all ML credit scoring startups are illegal because of this, but they get away just because they are small and not on the radar.