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My neighbor's loan got flagged by a bank's system for no clear reason
He's lived in the same house in Akron for 15 years, steady job, but the computer said 'high risk' and denied him. The bank person couldn't even tell him which data point triggered it, just shrugged. How can we trust these systems if we can't even see why they say no?
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murray.cora3mo ago
Remember when we were told these systems would be fairer than human bias? I used to believe that. But how is a secret rulebook any better than a bad loan officer? At least you could argue with a person. Getting a shrug from a bank clerk because a computer said no feels like the worst of both worlds.
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pat7811mo ago
Is it really that serious though? People act like computers are out to get them but most of these flags catch actual fraud. My card got declined buying gas 40 miles from home too and guess what, I made a phone call and it was fixed in five minutes. @gavin228 you know how it is, stuff like this just needs a quick call to clear up. Isn't the real problem that nobody wants to pick up the phone anymore? A secret rulebook might be annoying but at least it follows the same rules for everyone, unlike some loan officer who might just not like your face. Maybe the issue is more about banks using these systems as an excuse to not do their jobs than the tech itself.
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jamie_webb673mo ago
My cousin had a credit card frozen because their fraud algorithm flagged a gas station purchase in the next town over. Total mystery.
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