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Algorithms Consumer Financial Products Fair Lending

Troutman Pepper Locke

The FinReg Frontier: AI and Machine Learning in Consumer Finance — The Consumer Finance Podcast

Troutman Pepper Locke on

In this episode of the Consumer Finance Podcast, Chris Willis, co-leader of Troutman Pepper Locke's Consumer Financial Services Regulatory practice, delves into the current state of machine learning and artificial...more

Husch Blackwell LLP

CFPB Issues New Guidance for AI-Driven Credit Decisions

Husch Blackwell LLP on

On September 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued new guidance outlining lenders’ obligations under the Equal Credit Opportunity Act (ECOA) and Regulation B when using artificial intelligence (AI)...more

Orrick, Herrington & Sutcliffe LLP

Barr says AI should not create racial disparities in lending

On February 7, Federal Reserve Board Vice Chair for Supervision, Michael S. Barr, delivered remarks during the “Banking on Financial Inclusion” conference, where he warned financial institutions to make sure...more

McGlinchey Stafford

Powersports and the CFPB: Fair lending, fees, repossessions, and voluntary products

McGlinchey Stafford on

Compliance lawyers last summer were predicting that the Consumer Financial Protection Bureau (CFPB) would announce a robust regulatory agenda under the Biden administration, but we had not yet seen many details that allowed...more

Jenner & Block

CFPB and other Federal Regulators Eye Regulation Aimed at Curbing Algorithmic Bias in Automated Home Valuations

Jenner & Block on

Late last month, the Consumer Financial Protection Bureau (CFPB) took another step toward adopting rules governing the use of artificial intelligence (AI) and algorithms in appraising home values. Specifically, the CFPB...more

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