DOJ announces major new initiative targeting redlining; DOJ/CFPB/OCC settle redlining lawsuit against Mississippi-based national bank
CFPB Monitor
OCTOBER 26, 2021
Although he noted that algorithms can often help eliminate bias, “black-box underwriting decisions are not necessarily creating a more level playing field and may be exacerbating the bias feeding into them,” and that “the speed at which banks and lenders are turning lending and marketing decisions over to these algorithms is concerning to me.”.
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