Consumers definitely need consumer financial protection. They are preyed upon by providers looking to make money on folks who are gullible, innumerate or just not paying attention. Fraud and deception are all too common. There’s something else consumers usually need at various times in their...
September 19, 2023
The Consumer Financial Protection Bureau (CFPB) has released guidance for lenders who utilize artificial intelligence (AI) and complex models in their credit decision-making processes. The guidance emphasizes the need for lenders to provide specific and accurate explanations when making credit denials, the regulator said in a Tuesday (Sept. 19) press release. With the growing use of advanced algorithms and personal […]
