As technology continues to advance, regulators are increasingly addressing the fair lending implications of artificial intelligence (AI), 1 even though comprehensive rules governing AI have yet to be ...
Artificial intelligence (“AI”) and complex credit models may help lending institutions make decisions on credit applications more efficiently, but they’re also inviting increased scrutiny from ...
CFPB gives guidance when using AI & other tools for credit underwriting resulting in adverse actions
Finance companies that book subprime paper often use sophisticated technology for underwriting and risk mitigation. The Consumer Financial Protection Bureau (CFPB) now has taken a regulatory stance on ...
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