Financial Literacy and Credit: Pitfalls From the Misuse of Big Data
Have you ever wondered how the misuse of big data has corrupted the credit lending process? Join us for the third installment of our Open Classroom series, titled “Financial Literacy and Credit: Pitfalls From the Misuse of Big Data,” on Thursday, April 14 at 5:00 p.m. in the Cotilla Gallery of the Alvin Sherman Library. Featuring host Andrea Nevins, Ph.D., M.F.A., and guest speaker Jason Gershman, Ph.D., this event will provide an open conversation on how the abuses and misuses of big data lead to unfair credit scoring and explore potential solutions to this pervasive problem.
Click here (lib.nova.edu/openclass) to register for the event.
Credit scores were designed to increase fairness in credit lending but the recent rise in big data usage has led to abuses and misuses. Our guest speaker will discuss the basic mathematics and statistics that go into the FICO scores and how credit card companies and banks score potential clients in the lending process. He will demonstrate some abuses and misuses of this data and introduce some potential solutions that will begin to fix a flawed and broken process to prevent the development of a “weapon of math destruction.”
The Open Classroom is a collaboration between the Farquhar Honors College and the Alvin Sherman Library to bring disciplinary perspectives on contemporary issues through open conversations with experts in the field. The Open Classroom aims to bridge the gap between academic research and the general public and provide unique insights rarely seen in the media in an accessible way.