Rohit Chopra, Director of the CFPB, said, “Companies are not absolved of their legal responsibilities when they let a black-box model make lending decisions.”
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CFPB Issues Memo to Increase Consumer Protections
The Consumer Financial Protection Bureau (CFPB) has recently published an advisory opinion to affirm that the Equal Credit Opportunity Act (ECOA) bars lenders from discriminating against customers after ...
Read More »CFPB Highlights CARES Act and ECOA Violations
Bureau examiners uncover violations in areas including mortgage servicing and a variety of lending discrimination practices in new report.
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