Britney Crawford

Britney Crawford

Bradley Arant Boult Cummings LLP

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CFPB Examinations Highlight Fair Lending Risks in Credit Scoring Models

Amid recent technological advances in artificial intelligence and machine learning, on January 17, 2025, the CFPB issued its Winter 2025 Supervisory Highlights: Advanced Technologies Special Edition. This edition of...more

1/29/2025  /  Algorithms , Artificial Intelligence , Compliance , Consumer Financial Protection Bureau (CFPB) , Credit Cards , ECOA , Financial Institutions , Machine Learning , Regulation B

Appeals Court Holds ECOA Liability Extends to Prospective Applicants

On July 11, 2024, the United States Court of Appeals for the Seventh Circuit issued its highly anticipated decision in Consumer Financial Protection Bureau v. Townstone Financial, Inc., et al. In this pivotal decision, the...more

8/1/2024  /  Appeals , Chevron Deference , Consumer Financial Protection Act (CFPA) , Consumer Financial Protection Bureau (CFPB) , ECOA , Liability , Loper Bright Enterprises v Raimondo , Petition for Writ of Certiorari , SCOTUS

CFPB Issues Additional Guidance on Use of AI in Credit Underwriting

On September 19, the Consumer Financial Protection Bureau (CFPB) issued Circular 2023-03, which provides guidance as to how lenders must explain denials of applications of credit when the underwriting is based on artificial...more

10/2/2023  /  Artificial Intelligence , Consumer Financial Protection Bureau (CFPB) , Credit Scores , ECOA , Lenders , New Guidance , Regulation B , Underwriting
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