Earlier quoted context omitted.
>Automated human classification without recourse nor transparency is what the EU is against. "You cannot get a loan because the AI says so" is not acceptable. The credit score system already in place in the US is frequently as arbitrary in some cases already. You get punished for just looking at it. I don't think I need to preach to HN about that (crypto money and all that). Does Europe do it much differently? Not an…
>The credit score system already in place in the US is frequently as arbitrary in some cases already. The credit score system is not arbitrary, it's a specific formula that applies equally to everyone. >You get punished for just looking at it. No you do not. There are hard inquiries and soft inquiries, and an individual viewing their own credit score is considered a soft inquiry which has absolutely no effect on your…
That doesn’t mean the formula is reasonable or transparent. An AI is also a specific formula that applies equally to everyone. It’s about how the formula takes “weight” on the individual’s differences.
> There are hard inquiries and soft inquiries
Why there are “hard inquiries”? Why someone else inquiring my credit score should affect my credit score?