Machine learning can increase credit access – Philadelphia Fed
However, study finds trade-off between profit and fairness
Machine learning technology could expand access to credit in the US, according to researchers from the Federal Reserve Bank of Philadelphia.
“Advances in machine learning provide the opportunity to improve predictions that may expand credit access to more applicants,” write Vitaly Meursault, Daniel Moulton, Larry Santucci, Nathan Schor and Kali Aloisi. Their working paper also says that regulation limits the extent to which lenders are currently able to use the technology, which is a component of
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