Algorithmic Bias in Loan Approvals
An algorithm used for loan approvals disproportionately denies applicants from certain zip codes. Which of the following statements best explains how this algorithmic bias could be perpetuated?
A
The algorithm is programmed to maximize bank profits only
B
People in those zip codes are inherently less creditworthy
C
Applicants from those areas submit incomplete applications
D
Historical lending data reflects past discriminatory practices
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