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Goodwin

Interpretable Algorithms as a Potential Solution to CFPB’s Guidance on AI-driven Credit Denials

Goodwin on

​​​​​​​In September 2023, the Consumer Financial Protection Bureau (CFPB) issued guidance on the use of artificial intelligence in issuing credit denials, a prevalent practice among lenders. The CFPB explained that when...more

Ballard Spahr LLP

Use of Big Data May Violate Federal Consumer Protection Laws, FTC Report Warns

Ballard Spahr LLP on

A new Federal Trade Commission (FTC) report, "Big Data: A Tool for Inclusion or Exclusion? Understanding the Issues," warns that certain uses of big data consisting of consumer information may implicate various federal...more

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