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Department of Justice (DOJ) Artificial Intelligence Equal Credit Opportunity Act

Husch Blackwell LLP

House Committee Forms AI Working Group as Regulators Emphasize Existing Authority to Regulate AI

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Here’s what you need to know: 1. The House Financial Services Committee formed a 12-member working group on Artificial Intelligence (AI). The group is tasked with exploring AI’s comprehensive impact on financial services so...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Nondiscrimination and Military Protection Law

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to consumers protected by nondiscrimination and military protection laws....more

ArentFox Schiff

The Federal Trade Commission and Artificial Intelligence

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Artificial intelligence (AI) burst into the public consciousness less than one year ago, with OpenAI’s highly successful public release of ChatGPT. Since then, AI-enabled products and services have proliferated throughout the...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 17, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 2, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper

CFPB’s 2022 Fair Lending Report Focuses on Bias in Mortgage Lending, Redlining, Home Appraisals, Small Business Lending, and Shows...

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As shown by a new report, the Consumer Financial Protection Bureau (CFPB or Bureau) is focusing its fair lending work on mortgage origination and pricing, small business lending, redlining, and the use of artificial...more

Proskauer Rose LLP

Government Enforcement

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The last webinar in our series concerned AI and government enforcement. Companies are currently gauging how government will focus enforcement efforts in this new, emerging area by looking to a few guideposts. The first is...more

Lippes Mathias LLP

Federal Agencies Signal Collaborative and Increasing Enforcement Efforts Against Discrimination and Bias in Automated Systems

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While state and federal agencies are developing regulations directly targeting automated decision-making systems, on April 25, 2023, the Consumer Financial Protection Bureau (CFPB), Justice Department (DOJ), Equal Employment...more

Ballard Spahr LLP

FTC issues annual ECOA report to CFPB (UPDATED)

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The FTC recently sent its annual letter to the CFPB reporting on the FTC’s activities related to the Equal Credit Opportunity Act (ECOA) and Regulation B.  The new letter reports on the FTC’s activities in 2022.  The Bureau...more

Morrison & Foerster LLP

Federal Agencies Announce Ramp-Up of Redlining Enforcement

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The Department of Justice (DOJ) joined other federal agencies in announcing an increased focus on fair lending issues. On October 22, 2021, DOJ announced a new initiative to crack down on “modern-day” redlining. DOJ is...more

Cooley LLP

Alert: AI and Algorithms: FTC Issues Guidance for Companies Amid Heightened Scrutiny

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Even before the COVID-19 crisis, artificial intelligence and algorithms, particularly in the context of pricing, were a focus of the Federal Trade Commission and the Department of Justice’s Antitrust Division. With the...more

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