News & Analysis as of

Equal Credit Opportunity Act Artificial Intelligence Financial Institutions

Bradley Arant Boult Cummings LLP

CFPB Examinations Highlight Fair Lending Risks in Credit Scoring Models

Amid recent technological advances in artificial intelligence and machine learning, on January 17, 2025, the CFPB issued its Winter 2025 Supervisory Highlights: Advanced Technologies Special Edition. This edition of...more

Troutman Pepper Locke

CFPB Highlights Fair Lending Risks in Advanced Credit Scoring Models

Troutman Pepper Locke on

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its latest Supervisory Highlights report, focusing on the use of advanced technologies in credit scoring models. ...more

Harris Beach Murtha PLLC

AI Regulation in the Financial System: Insight from the Federal Reserve

Harris Beach Murtha PLLC on

Federal Reserve Governor Michelle W. Bowman recently delivered insightful remarks at the 27th Annual Symposium on Building the Financial System of the 21st Century, emphasizing the transformative potential of artificial...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2024 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Mintz - Antitrust Viewpoints

Financial Protection and Autonomous Systems: Recent CFPB Actions Focused on AI — AI: The Washington Report

Welcome to this week's issue of AI: The Washington Report, a joint undertaking of Mintz and its government affairs affiliate, ML Strategies. The accelerating advances in artificial intelligence (“AI”) and the practical,...more

Jones Day

CFPB Guidance Puts Creditors on Notice About AI-Involved Adverse Actions

Jones Day on

Recent Consumer Financial Protection Bureau ("CFPB") guidance reiterates that creditors must provide consumers with accurate and individualized explanations for adverse actions—a task made more difficult by the complexity of...more

Troutman Pepper Locke

CFPB Calls for Increased Specificity and Accuracy on Reasons for Credit Denials When Lenders Employ Artificial Intelligence

Troutman Pepper Locke on

When using artificial intelligence (AI) or complex credit models, can lenders rely on the checklist of reasons provided in Regulation B sample forms for adverse action notices? According to today’s guidance issued by the...more

Wiley Rein LLP

Wiley Consumer Protection Download (November 29, 2021)

Wiley Rein LLP on

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

Morrison & Foerster LLP

Federal Agencies Announce Ramp-Up of Redlining Enforcement

Morrison & Foerster LLP on

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

9 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide