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Using Complex Algorithms For Credit Decisions CFPB Requirements

Consumer Financial Protection Bureau the Bureau or CFPB issued its third Circular emphasizing creditor use of complex algorithms,The Circular makes clear that federal consumer protection laws apply, and are enforced, regardless of the technology a creditor employs. ....

Rohit Chopra , Consumer Financial Protection Bureau The , National Institutes Of Standards , Consumer Financial Protection Bureau , Equal Credit Opportunity Act , National Institutes , Complex Algorithms , Third Circular , Credit Card Company , Adverse Actions , Regulation B , Black Box , Valuate Application , Dverse Credit Determination ,