Potential Bias in AI Consumer Decision Tools Eyed by FTC, CFPB -
Potential discrimination and bias resulting from consumer tools based on artificial intelligence and automated data will be an enforcement focus of...more
12/12/2022
/ Artificial Intelligence ,
California Consumer Privacy Act (CCPA) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Discrimination ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Markets ,
Fines ,
Payday Loans ,
Proposed Rules ,
Sephora ,
UDAAP
Late last month, the Consumer Financial Protection Bureau (CFPB) took another step toward adopting rules governing the use of artificial intelligence (AI) and algorithms in appraising home values. Specifically, the CFPB...more
3/11/2022
/ Algorithms ,
Artificial Intelligence ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Disparate Impact ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Housing Market ,
Mortgages ,
Popular ,
Racial Bias ,
Real Estate Transactions
Potential discrimination and bias resulting from consumer tools based on artificial intelligence and automated data will be an enforcement focus of regulators this year, Jenner & Block attorneys predict. Accuracy and...more