News & Analysis as of

Algorithms Consumer Financial Protection Bureau (CFPB) Data Collection

Ogletree, Deakins, Nash, Smoak & Stewart,...

CFPB Issues Guidance With Aggressive Interpretation of FCRA Applicability to Employee Monitoring and Screening Tools

The Consumer Financial Protection Bureau (CFPB) recently issued guidance that takes an aggressive position regarding the scope of the Fair Credit Reporting Act (FCRA) as covering certain employee monitoring and assessment...more

Venable LLP

Federal Agencies Increase Focus on Pricing Enforcement

Venable LLP on

Last month, the Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) jointly hosted a public meeting of the interagency “Strike Force on Unfair and Illegal Business Practices.” The meeting was a continuation of...more

Rothwell, Figg, Ernst & Manbeck, P.C.

Regulating AI: An Overview of Federal Efforts

This first part of a two-part series on U.S. regulation of artificial intelligence systems provides an overview and modern context for the existing regulatory, legal and risk management landscape for AI systems in the U.S.,...more

Moore & Van Allen PLLC

Federal Agencies Issue Joint Statement Addressing Enforcement Authority & AI

Moore & Van Allen PLLC on

As artificial intelligence systems such as ChatGPT and Midjourney have become increasingly prominent, so have concerns about the effects that such programs may have on the economy and society at large. With more businesses...more

Perkins Coie

CFPB Requests Information About Data Brokers for Planned Rulemaking

Perkins Coie on

The Consumer Financial Protection Bureau (CFPB) announced on March 15, 2023, that it is issuing a Request for Information (RFI) about the business practices of data brokers, which the agency said will assist it in “planned...more

Pillsbury - Internet & Social Media Law Blog

Regulators Zero In on AI

As previously discussed, financial services regulators are increasingly focused on how businesses use artificial intelligence (AI) and machine learning (ML) in underwriting and pricing consumer finance products. Although...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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