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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.cora2mo 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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jamie_webb672mo 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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