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Meet Facebook, Your New Financial Regulator

Submitted by editor on Tue, 2017/02/14 - 11:28am

Maybe it’s not so bad to have algorithmic overlords -- at least when they are pressured into protecting people rather than exploiting them.

Earlier this week, Facebook declared that it will no longer let certain kinds of advertisers engage in racial profiling. Specifically, it will prohibit credit, housing, and employment advertisers from using “ethnic affinity” categories -- marketing profiles that correlate strongly with race -- in deciding whom to exclude from their audience.

The reform didn’t happen out of the blue. Pressure came first from a ProPublica investigative experiment last October, in which the news organization successfully submitted to Facebook a housing advertisement...

Read Complete Article Tuesday, February 14, 2017