Quote:
Originally Posted by Adder
They want to make money. They will end up using criteria that correlate with race but that they can show actually have meaning for the decision they are making.
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Pardon my skepticism, but I have long heard arguments about how the Invisible Hand of The Market prevents discrimination because companies that "irrationally" discriminate (i.e., on the basis of race, sex, religion, etc.) would be forced out of business by losing out to companies that "rationally" discriminate (i.e., on the basis of whatever the market is - skills, credit-risk, speed of fastball, etc.).
With the notable exception of professional sports, I don't think that this has occurred. So the idea that the lenders won't discriminate on race now that they have all of these wonderful (albeit imperfect) tools and databases because they only care about making money is Not Credible.
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