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Adverse Action Financial Institutions

Ballard Spahr LLP

Trump issues Executive Order prohibiting ‘debanking’

Ballard Spahr LLP on

President Trump has issued an Executive Order directing banking agencies to adopt policies to ensure that financial institutions do not use reputational risk as a basis for restricting access to banking services—a process...more

Jones Day

CFPB Guidance Puts Creditors on Notice About AI-Involved Adverse Actions

Jones Day on

Recent Consumer Financial Protection Bureau ("CFPB") guidance reiterates that creditors must provide consumers with accurate and individualized explanations for adverse actions—a task made more difficult by the complexity of...more

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