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
10/12/2023
/ Adverse Action ,
Algorithms ,
Artificial Intelligence ,
Consumer Credit Protection ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
ECOA ,
Financial Institutions ,
Financial Services Industry ,
Machine Learning ,
Regulation B
Federal and state regulators are increasingly focusing their attention on artificial intelligence (“AI”) tools, including the use of automated decision-making tools in employment. This White Paper explores current uses of AI...more
In Short -
The Situation: Rapid advances in generative artificial intelligence ("AI") have galvanized bipartisan support for a new U.S. legal framework to regulate AI, potentially including creation of a new federal...more
Across multiple continents and industries, artificial intelligence ("AI") is a topic of intense focus by governments, research institutions, investors, and corporations—from start-ups to well-established industry players. As...more