Machine learning

CFPB extends comment period on overhaul of redlining law


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.


Using AI to make secondary market for online consumer loans


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.


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


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.”


OCC’s proposal rightfully directs banks to upgrade


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


OCC weighing major changes to its technology framework


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."


Coronavirus scams are proliferating. Smart tech can stop them.


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


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


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


AI models could struggle to handle the market downturn


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


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


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.


Bankers embrace new guidelines for ethical AI


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