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Discrimination › Algorithms › Financial Services Industry

Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's... more +
Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's race, religion, gender, age, to name a few.  less -
Paul Hastings LLP

Disparate Impact Lives: Massachusetts Attacks AI in Lending

Paul Hastings LLP on

On July 10, the Massachusetts attorney general announced a $2.5 million settlement with a Delaware-based student loan company to resolve allegations that the company’s lending practices, including the use of artificial...more

Troutman Pepper Locke

Biden Issues First Executive Order Directing Federal Agencies to Establish New Standards to Promote Safe and Secure Use of AI

Troutman Pepper Locke on

On October 30, President Biden issued a sweeping Executive Order calling on Congress to enact privacy laws and directing federal agencies to review existing rules and potentially explore new rulemakings governing the use of...more

Herbert Smith Freehills Kramer

NY Regulatory Guidance on AI Illustrates Compliance Challenges

Herbert Smith Freehills Kramer on

The New York Department of Financial Services’ (DFS) January 2019 insurance circular letter, which advised New York-licensed life insurance carriers on the use of external consumer data and information sources in...more

Orrick - Trade Secrets Group

Constitutional Challenge To CFAA Survives Motion To Dismiss As D.C. Court Weighs In On Circuit Split

Orrick - Trade Secrets Group on

On March 30, 2018, in Sandvig v. Sessions, the U.S. District Court for the District of Columbia allowed one of several constitutional challenges to the Computer Fraud and Abuse Act to survive a motion to dismiss. ...more

Davis Wright Tremaine LLP

Discrimination and Algorithms in Financial Services: Unintended Consequences of AI

Davis Wright Tremaine LLP on

It’s troubling enough when facial recognition software couldn’t recognize Asian faces, the crime prediction algorithm targeted black neighborhoods, the job bank was more likely to show men highly paid executive jobs, and the...more

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