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Algorithms › Unfair or Deceptive Trade Practices › Financial Services Industry

Hudson Cook, LLP

No AI Law? No Problem. How Massachusetts Attacked AI Underwriting Under Existing State Statutes

Hudson Cook, LLP on

On July 10, 2025, the Massachusetts Attorney General (AGO) entered into an Assurance of Discontinuance (AOD) with a private student loan lender (the Company), resolving allegations that the Company's underwriting practices...more

Ballard Spahr LLP

Massachusetts AG reaches settlement with student loan company, Earnest Operations LLC

Ballard Spahr LLP on

Massachusetts Attorney General Andrea Joy Campbell has reached a $2.5 million settlement with Earnest Operations LLC, a Delaware-based student loan company....more

Orrick, Herrington & Sutcliffe LLP

Massachusetts attorney general settles with student lender for $2.5M for UDAP and fair lending violations from alleged AI...

Orrick, Herrington & Sutcliffe LLP on

On July 10, the attorney general from Massachusetts (AG) announced a settlement with a student lender for alleged unfair and deceptive acts and practices in violation of consumer protection and lending laws leading to, among...more

Orrick, Herrington & Sutcliffe LLP

Federal agencies reaffirm commitment to confront AI-based discrimination

Orrick, Herrington & Sutcliffe LLP on

On April 25, the CFPB, DOJ, FTC, and Equal Employment Opportunity Commission released a joint statement reaffirming their commitment to protect the public from bias in automated systems and artificial intelligence (AI). ...more

Jenner & Block

Potential Bias in AI Consumer Decision Tools Eyed by FTC, CFPB

Jenner & Block on

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

Ballard Spahr LLP

Petition filed with FTC seeking investigation of use of “secret surveillance scoring”

Ballard Spahr LLP on

The Consumer Education Foundation, a California-based nonprofit consumer advocacy organization, has filed a petition with the FTC asking it to investigate the use of “secret surveillance scores” in the U.S. marketplace....more

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