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Algorithms › Discrimination › Equal Credit Opportunity Act

Paul Hastings LLP

Disparate Impact Lives: Massachusetts Attacks AI in Lending

Paul Hastings LLP on

On July 10, the Massachusetts attorney general announced a $2.5 million settlement with a Delaware-based student loan company to resolve allegations that the company’s lending practices, including the use of artificial...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

Navigating the Latest State AI Laws: What Your Business Needs to Know

Hinshaw & Culbertson - Privacy, Cyber & AI... on

Hinshaw's Privacy, Security, & Artificial Intelligence (AI) practice group has been continuously monitoring the changes to state AI regulations, which we outline below for your company to be aware of and comply with if you...more

Cozen O'Connor

CFPB Reminds Lenders that Algorithms Are Not a Shield for Discrimination

Cozen O'Connor on

The CFPB released Consumer Financial Protection Circular 2022-03 and an accompanying press release detailing the agency’s position on the application of anti-discrimination laws to consumer lenders relying on so-called “black...more

Hogan Lovells

AI & Algorithms (Part 4): The FTC’s Guidance on AI

Hogan Lovells on

Although the U.S. has no federal law that specifically regulates artificial intelligence (AI), the Federal Trade Commission (FTC) has indicated that it may be preparing to exercise its consumer protection authority with...more

Ballard Spahr LLP

Lawmaker seeks CFPB fair lending investigation of fintech small business lenders

Ballard Spahr LLP on

A Democratic congressman has raised concerns about potentially discriminatory lending practices used by fintech companies that extend credit to small businesses, calling on the CFPB “to vigorously investigate whether [such...more

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