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Fairness and Accountability for Algorithms in Financial Services: Addressing Bias and Discrimination to Prevent Digital Redlining, Report #493

Creative Commons 'BY-NC' version 4.0 license
Abstract

How can credit unions differentiate on trust? This report reviews a key area where trust is increasingly at a premium: the use of consumers’ data in algorithmic credit scoring. With this change comes new questions and concerns, especially about the potential for bias and discrimination in algorithmic underwriting.