Promise and peril: Fairness in AI-based lending
Artificial intelligence has revolutionized credit decisioning. What was once a slow, manual and subjective process is becoming highly automated, and ...
Tag: Consumer Financial Protection Bureau
Fintechs target 32M unbanked, underbanked households in US
With more than one-quarter of U.S. households unbanked or underbanked according to data from the FDIC, fintechs have long promised ...
Backed by $131m, Grasshopper Bank to roll out broadly next month
New York-based Grasshopper Bancorp, which opened for business to a select group of entrepreneurs and investors earlier this month, this ...
Bank of America SMB Loan Origination Up 6% Despite Crowded Lending Scene
Even with more nontraditional players making more loans to small businesses, loan origination at Bank of America is still up ...
CFPB Reassures Fintechs with ‘No-Action’ Letter for Upstart Network
Online lending service Upstart Network has received a “no-action” letter from the Consumer Financial Protection Bureau, the first such letter ...
American Consumers Pay a $15 Billion in Overdraft Fees Annually
The Consumer Financial Protection Bureau (CFPB) wants the U.S. consumer “to know before you owe” banks overdraft fees. So how ...
Yet Another Association for Marketplace Lending Launches
That's what the industry needs: competing marketplace lending associations. Today, the three big names in marketplace lending (for now -- more ...
CFPB Begins Fielding Marketplace Lending Complaints
open for business Today, the Consumer Financial Protection Bureau began accepting complaints regarding online marketplace lending. While no official regulations have ...
