CFPB tees up AI-based underwriting and adverse action notices

The Shopper Monetary Coverage Bureau is placing synthetic intelligence-based (AI) underwriting fashions below the microscope as extra lenders and banks depend on complicated algorithms within the credit-decisioning procedure. In particular, the Bureau needs to be sure that lenders the usage of AI or gadget finding out (ML) to underwrite loans are ready to factor adversarial motion notices required below the Equivalent […]

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