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The Rise of Credit Cards and the Rise of the Civil Rights Era
The first computer credit bureaus emerged in the mid 1960s. The idea of credit scoring is that it will be democratizing and that it will do away with all these other problems that come up when you have individuals judging other people. But as we learned today, there are all kinds of ways that variables can become proxies for protected characteristics or protected classes and discriminate unwittingly in the process.