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Lenders › Discrimination › Fair Lending

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

Goodwin

Massachusetts Attorney General Settles with Student Loan Lender for Unlawful Practices Related to the Use of AI

Goodwin on

This Thursday, July 10, Massachusetts Attorney General Andrea Joy Campbell announced a $2.5 million settlement with a company that offers education financing products based in Delaware. ...more

Nelson Mullins Riley & Scarborough LLP

CFPB Director Kraninger Signals More Enforcement Coming This Year

Nelson Mullins Riley & Scarborough LLP on

CFPB Director Kathleen L. Kraninger appeared Before the Senate Committee on Banking, Housing, and Urban Affairs on July 29 to deliver the Bureau’s most recent Semi-Annual Report to Congress. This report was particularly...more

BakerHostetler

Congress Passes Repeal of CFPB Guidance on Indirect Auto Lender Liability for Discriminatory Lending

BakerHostetler on

The U.S. House of Representatives voted last Tuesday to reject a 2013 Consumer Financial Protection Bureau (CFPB) bulletin that provided guidance regarding liability for discrimination in indirect auto lending. The same...more

Foley & Lardner LLP

Senate Votes to Roll Back Auto Industry Lending Guidance from Consumer Financial Protection Bureau

Foley & Lardner LLP on

On April 18, the Senate narrowly passed a resolution to roll back certain guidance issued by the Consumer Financial Protection Bureau in 2013 pertaining to auto lending. As previously written about on a Foley & Lardner LLP...more

McGuireWoods LLP

Senate Votes to Strike Down Key CFPB Bulletin on Lending Discrimination in the Indirect Auto Market

McGuireWoods LLP on

On Wednesday, the U.S. Senate voted almost entirely along party lines to invalidate, under the Congressional Review Act, the Consumer Financial Protection Bureau’s (CFPB) (in)famous 2013 Bulletin on lending discrimination in...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

Ballard Spahr LLP

Auto Finance Company Agrees to Change Dealer Compensation Policy to Settle CFPB and DOJ Fair Lending Claims

Ballard Spahr LLP on

To resolve charges by the Consumer Federal Protection Bureau (CFPB) and the Department of Justice (DOJ) that it engaged in unlawful discrimination in violation of the Equal Credit Opportunity Act (ECOA), American Honda...more

Carlton Fields

DOJ And CFPB Team Up To Take On Auto And Mortgage Lenders

Carlton Fields on

The CFPB and the Department of Justice (DOJ) are joining forces to pursue damages and penalties against consumer lenders for violation of the Equal Credit Opportunity Act (ECOA) in pricing consumer loans....more

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