Financial services entities that use AI, machine learning, or another algorithmic coding to help make credit decisions are now clearly on notice that they must comply with ECOA’s adverse action requirements.
New CFPB Guidance on Algorithmic Credit Decision Discrimination natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.
As we have repeatedly discussed this year in our Financial Services Perspectives blog, the current leadership of the CFPB has placed a significant emphasis upon fair lending. Seemingly.