Here’s what you need to know:
1. The House Financial Services Committee formed a 12-member working group on Artificial Intelligence (AI). The group is tasked with exploring AI’s comprehensive impact on financial services so...more
The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have issued a new joint statement focused on anti-discrimination in lending practices as they relate to noncitizens. This guidance not only...more
10/25/2023
/ Assessment ,
Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Discrimination ,
Department of Justice (DOJ) ,
ECOA ,
Fair Lending ,
Immigration Status Discrimination ,
Joint Statements ,
Non-Citizens ,
Regulation B
On September 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued new guidance outlining lenders’ obligations under the Equal Credit Opportunity Act (ECOA) and Regulation B when using artificial intelligence (AI)...more
In a not-entirely-unexpected ruling, Judge J. Campbell Barker of the U.S. District Court for the Eastern District of Texas recently vacated the Consumer Financial Protection Bureau’s (CFPB) updated Unfair, Deceptive, or...more