Combating bias begins with data-driven awareness and recognition and scores and algorithms that enable institutions to measure – and mitigate – bias accurately. In addition, banks must view customer complaints as a credible source of information.
How an indigenous man was criminalized when seeking to open an account
What should have been a routine contact suddenly escalated, and she ended up phoning the cops—an overreaction that effectively branded Johnson as a criminal element when all he wanted to do was assist his granddaughter in opening a bank account. This demonstrates racial inequity in the banking sector.