Jul 8, 02:26 PM

Consumer Groups Urge CFPB Action on Banks' Algorithms in 2023 Fair Lending Report and Debt Collection Practices

The Consumer Financial Protection Bureau (CFPB) has been urged by consumer groups to address banks' use of algorithms. In a report to Congress, the CFPB highlighted the need for less discriminatory models in lending practices. Key takeaways from the CFPB's 2023 Fair Lending Report and its latest Supervisory Highlights focusing on transparency in debt collection practices have been emphasized.

#Consumer Financial Protection Bureau #CFPB #Congress #2023 Fair Lending Report #latest Supervisory Highlights

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