To capitalize on the promise of artificial intelligence and alternative data, boards need to anticipate and mitigate various risks.
Takeaways
- Hidden biases need to be prevented.
- Neither regulators nor the public will...more
On June 18, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the pilot of a new Advisory Opinion process, offering a potentially useful tool for those seeking guidance on compliance issues. ...more
Year In Review -
Anand Raman, the head of Skadden’s Consumer Financial Services (CFS) practice, began the conference by providing a summary of notable events and trends over the past year relating to consumer financial...more
5/13/2020
/ Banks ,
Community Reinvestment Act ,
Consumer Financial Products ,
Digital Markets Strategy ,
ECOA ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
Foreclosure ,
Lenders ,
Loss Mitigation ,
Machine Learning ,
Moratorium ,
Mortgage Lenders ,
No-Action Letters ,
Paycheck Protection Program (PPP) ,
Professional Conferences ,
Risk Assessment ,
Risk Mitigation ,
SBA ,
UDAAP
A degree of uncertainty hangs over the Consumer Financial Protection Bureau (CFPB) following the November 2017 resignation of its first director, Richard Cordray. On his last day in office, Cordray appointed his chief of...more
1/31/2018
/ Ability-to-Repay ,
Administrative Agencies ,
Administrative Appointments ,
Arbitration Agreements ,
Congressional Budget Office ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
Financial Services Industry ,
GAO ,
Mortgage Servicers ,
Payday Lending Rule ,
Payday Loans ,
Payment Processors ,
Presidential Appointments ,
RESPA ,
Restitution ,
Richard Cordray ,
Trump Administration ,
Unfair or Deceptive Trade Practices
How consumer financial services providers can meet the needs of a growing population of "limited English proficiency" (LEP) consumers without running afoul of laws prohibiting deceptive practices and discrimination has...more