> maximizing prediction accuracy is inherently unbiased
This assumes that you're actually maximizing prediction accuracy, rather than taking the easiest route toward sufficiently high predictive power.
Not-so-hypothetical: you can invest $N and create a profitable model that (unfairly and inaccurately) discriminates directly based upon race, or you can invest $N*M and create a profitable model that does not discriminate on race (regardless of whether its results are racially equitable). Given the choice, a lot of people will choose the $N approach.
This assumes that you're actually maximizing prediction accuracy, rather than taking the easiest route toward sufficiently high predictive power.
Not-so-hypothetical: you can invest $N and create a profitable model that (unfairly and inaccurately) discriminates directly based upon race, or you can invest $N*M and create a profitable model that does not discriminate on race (regardless of whether its results are racially equitable). Given the choice, a lot of people will choose the $N approach.