Yes, but that banker used heuristics like "Tom is a good white Christian who goes to church every Sunday, of course he is good for the money" and this algorithm can be proven not to, even if it comes to very similar credit decisions as Bill the Biased Banker.

This is part of the reason why credit scores took over the world in the first place: they're demonstrably blind to protected classifications. (They're also more accurate than Bill the Biased Banker and orders of magnitude cheaper to run and execute virtually instantly at 3 AM in the morning, but if their only feature was "As effective as traditional underwriting but immune to anti-redlining legislation" they'd still have taken over the world.)