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New allegations that big banks are using big data ted discriminate against lowincome customers that they believe are most likely to overdraft theyre Checking Accounts or bounce checks. Big banks argue theyre using the data bases to avoid fraud artists. Here to weigh in, editor in chief of american banker and former Vice President of goldman. Im going to start with you. Allegations tonight in the New York Times that over a million lowincome americans basically are being kicked out of banks because there are errors in some of these databases. Thank you for having me. I appreciated. Yes. That is the gist of the article. Two things. Errors and databases which occur. We have all experienced that. Also, the fact that the way the data bases are used, the consequences of certain activities that you might engage in, you might have an overdraft because everybody shares the same data bases and there are very few banks left to deal with. You could be foreclosed from having a bank account which cou

New yorkUnited statesDistrict of columbiaJeffrey mironGerri willisJay carneyBen bernankeBig banksBig dataVice presidentNew york timesYork timesBank accountBank pointPoint viewOverdraft fees