Machine learning

CFPB extends comment period on overhaul of redlining law

08/19/20

The CFPB is giving stakeholders until Dec. 1 to file comments on a potential overhaul to its rules related to the Equal Credit Opportunity Act, which prohibits discrimination in credit and lending decisions.

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Using AI to make secondary market for online consumer loans

08/11/20

Theorem is marketing its first-ever securitization of unsecured loans. It uses machine-learning technology to gauge the risk of default, a growing concern during the pandemic recession.

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Banks, consumers groups to CFPB: Don’t rush overhaul of redlining law

08/10/20

The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.”

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OCC’s proposal rightfully directs banks to upgrade

06/17/20

The agency’s advance notice of proposed rulemaking, which would require banks to evolve with technology, shows foresight that policymakers too often lack.

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OCC weighing major changes to its technology framework

06/04/20

The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades."

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Coronavirus scams are proliferating. Smart tech can stop them.

05/15/20

Artificial intelligence and machine learning are some examples of technology available now to help combat money launderers profiting from the pandemic.

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Small banks don't have to take a backseat to fintechs

04/13/20

A combination of digital and cloud capabilities, data gathering and regulatory experience should give smaller banks an edge over nonbanks.

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AI models could struggle to handle the market downturn

03/19/20

Many new artificial intelligence and machine learning methods used for underwriting are not fully equipped to predict defaults.

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Move over, tech. Banks must focus on their teams, values.

03/03/20

Banks are so caught up in the newest technology trends that they lose sight of the need to build a talented workforce and a purpose-driven organization.

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Bankers embrace new guidelines for ethical AI

02/21/20

Regions, Citizens, BMO and others are adopting principles IBM unveiled at Davos.

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