This is only important if you believe that racial stereotypes are true, but should be ignored. That if you control for education, income, region, etc, differenc

This is only important if you believe that racial stereotypes are true, but should be ignored. That if you control for education, income, region, etc, differences between races are still significant. Disparate impact goes well beyond removing race as a feature. You sometimes can't use features that correlate with race, even if they are highly predictive. E.g. education. It also has nothing to do with the profits of banks. Better prediction algorithms for loans mean less interest rates for people that are good borrowers, and less crippling debt to those that aren't. It has huge benefit to the economy and society.