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US banks must recognize that their credit-scoring algorithms can be discriminatory, Fed’s Powell says

By Neil Roland ( March 23, 2021, 20:54 GMT | Insight) -- US banks have to take into account that the artificial intelligence they use to give credit scores to prospective individual and business borrowers can discriminate on the basis of race, Federal Reserve Chairman Jerome Powell said. We are “very focused on that set of issues,” he said.US banks have to take into account that the artificial intelligence they use to give credit scores to prospective individual and business borrowers can discriminate on the basis of race, Federal Reserve Chairman Jerome Powell said....

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