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Markup Mortgage Industry Investigation Cited in Support of Algorithmic Accountability Bill
The measure would require companies to test the algorithms they use for bias and discrimination
Challenging technology to serve the public good.
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The measure would require companies to test the algorithms they use for bias and discrimination
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Minnesota attorney general warns lenders: Don’t be surprised if you’re investigated
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The multi-agency effort will target redlining—including digital redlining through black-box algorithms
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Even accounting for factors lenders said would explain disparities, people of color are denied mortgages at significantly higher rates than White people
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Even after including factors the mortgage industry said explain differences, lenders are still more likely to deny people of color than White people under similar financial circumstances
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Mortgage companies affiliated with the nation’s three largest home builders were at least twice as likely to deny applicants of color as similar White borrowers