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07 Jul 2020CFPB: Providing adverse action notices when using AI/ML models


On July 7, 2020, the CFPB put out an Innovation Spotlight blog, Providing adverse action notices when using AI/ML models.  The posting notes that one area of innovation the CFPB is “monitoring is artificial intelligence (AI), and particularly a subset of AI, machine learning (ML). For example, in 2017, the Bureau issued a Request for Information Regarding Use of Alternative Data and Modeling Techniques in the Credit Process (RFI).

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07 Jul 2020Innovation spotlight: Providing adverse action notices when using AI/ML models


On July 7, 2020, the CFPB put out an Innovation Spotlight blog, Providing adverse action notices when using AI/ML models.

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03 Jun 2020Why credit reporting matters in formulating policy during COVID-19 response and recovery


The World Bank (Pratibha Chhabra, Shalini Sankaranarayanan, and Collen Masunda) wrote that “[a]ccess to reliable credit information supports lending decisions, data-driven policy formulation, and compliance with Basel and other financial sector standards. Inaccurate and untimely data may result in creditors losing trust in credit information, which could slow the recovery from the crisis.”

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In April 2020, the Policy & Economic Research Council (PERC) issued a blog posting, COVID-19 and Credit Reporting: Suppression is Not the Solution. 

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