Lenders utilizing AI-based underwriting should comply to CFPB assistance

Gabriel 23/09/2023

6 Less than a minute

Listen: Direct deposits and the CFPB’s new open banking rule

The Consumer Financial Protection Bureau has actually doubled down on negative action requirements for lending institutions utilizing AI-based underwriting with brand-new assistance, marking a shift in tone from its previous assistance in 2022. A CFPB article Tuesday echoed assistance provided in 2022, however mostly concentrated on negative action notifications’ precision and uniqueness requirements, Brian Fink, partner at McGlinchey, informed Auto Finance News, a sibling […]

Gabriel 23/09/2023

6 Less than a minute

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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Lenders utilizing AI-based underwriting should comply to CFPB assistance

Gabriel

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