Banking

CFPB tees up AI-based underwriting and negative action notifications

The Consumer Financial Protection Bureau is putting synthetic intelligence-based (AI) underwriting designs under the microscopic lense as more lending institutions and banks count on complicated algorithms in the credit-decisioning procedure. Specifically, the Bureau wishes to make sure that lending institutions utilizing AI or artificial intelligence (ML) to finance loans have the ability to provide negative action notifications needed under the Equal […]



Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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