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Lenders using AI-based underwriting must comply to CFPB guidance

BankInovation

The Consumer Financial Protection Bureau has doubled down on adverse action requirements for lenders using AI-based underwriting with new guidance, marking a shift in tone from its previous guidance in 2022.

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New Pinterest Feature Lets Consumers Virtually Try Out Lipstick

PYMNTS

The feature has also been combined with the site’s existing skin tone range feature, which enables users to shop for similar lip shades with skin tones that match theirs. In separate news, Pinterest announced a new feature in November that lets users make purchases from a select number of online shops as it keeps growing.

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Amazon Echo Challenges Zoom, Google Meet With Group Video, Audio Calls

PYMNTS

"Alexa will automatically identify which language is being spoken and translate each side of the conversation," Amazon wrote in a news release announcing the service.

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China Tech Giants Unite For Facial Recognition Standards

PYMNTS

“Nowadays, face-scanning has become the daily norm for the general public to experience innovation and enjoy convenience,” Shang Jun of Shangtang Technology and SenseTime wrote in a public post on the social app WeChat, the news outlet Sixth Tone reported. The AI giant raised $410 million in a 2017 Series B round.

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Amazon sets a new tone as Jeff Bezos era comes to an end | JPMorgan takes 40% stake in Brazilian digital bank C6 | Mastercard buys Ekata for $850m

Bussman Advisory

The latest edition of the FinTech Ecosystem Newsletter is here : The post Amazon sets a new tone as Jeff Bezos era comes to an end | JPMorgan takes 40% stake in Brazilian digital bank C6 | Mastercard buys Ekata for $850m appeared first on Bussmann Advisory AG.

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Treasuries Rethink a Fed Pivot

South State Correspondent

New Fed Governor Phillip Jefferson made his debut speech yesterday and sounded just like all the other Fed speakers of late that much remains to be done on inflation, and he is particularly worried about wage-price inflation stemming from the tight labor market. in August with new orders contracting to 47.1

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Goldilocks Appears in August Jobs Report

South State Correspondent

Wage growth slowed a bit from July which will also be good news at the Fed which is looking to avoid a wage-price spiral. The moderation in job gains will be applauded at the Fed but they will expect those gains to slow even more in coming months as the rate hikes take hold in the economy. Average hourly earnings rose 0.3% Source: Bloomberg.

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