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How AI creates fair lending
Fast Company Magazine· 2 days agoClosing the wealth inequality gap, which is closely linked to race, has become increasingly difficult due to systemic biases within financial...
CFPB Files Lawsuit Against SoLo Funds for Alleged Deceptive Lending Practices | JD Supra
JD Supra· 2 days agoThe CFPB alleges that SoLo Funds engaged in deceptive practices related to the total cost of loans, servicing, and collection of void and uncollectible loans in violation ...
JD Supra: Is Fair Lending Enforcement Fair Today?
JD Supra· 2 days agoEvery banker should know by now that the Department of Justice announced an “Anti-Redlining” crusade in October 2021. In his October 2021, press release, Attorney General Merrick Garland, proclaimed ...
Are Regulators Fairly Evaluating the Hottest Fair Lending Issue: Redlining? | JD Supra
JD Supra· 4 days agoDuring that time, I’ve been engaged by various banks to help them respond to threats by regulators to refer them to the DOJ for alleged redlining. Undoubtedly, the regulators and the DOJ have ...
DACA Recipient Accuses California Credit Union of ECOA Violations
The National Law Review· 7 days agoOn May 3, a California resident filed a class action lawsuit in federal court accusing a Los...
Buy Now, Pay Later Plans Must Follow Credit Card Rules, Says CFPB
CNET· 1 day agoAll your buy now pay later plans might soon be treated as credit card purchases -- at least as it...
CFPB Sues Fintech for Deceptive Practices Surrounding Tipping Service | JD Supra
JD Supra· 4 days agoThe Bureau alleges that while the company markets itself as offering 0% APR...violated the Consumer Financial Protection Act’s prohibition against unfair, deceptive, and abusive conduct, as ...
KEYBANK RANKS #17 ON FAIR360'S TOP COMPANIES FOR DIVERSITY
Morningstar· 1 day agoCLEVELAND, May 23, 2024 /PRNewswire/ -- KeyBank (NYSE:KEY) has earned 17th place on the 2024 Fair360 "Top 50 Companies for Diversity" list (formerly known as DiversityInc), improving 5 spots from #22 in 2023. This year's recognition marks the 15th
Zillow’s new AI tool aims to promote equality in housing - HousingWire
HousingWire· 3 days agoIn a news release, Zillow explained that artificial intelligence (AI) tools often fail to account for the myriad requirements of fair housing laws. The Fair
SCOTUS CFSA decision to have broad impact | JD Supra
JD Supra· 3 days agoThe U.S. Supreme Court’s ruling last week in CFSA v. CFPB that the CFPB’s funding mechanism does not violate the Appropriations Clause of the U.S. Constitution removes what many observers consider ...
