Buckley Webcast: Redlining goes digital — What your institution needs to know
Alternative data, algorithms, machine learning, and other technology are transforming lending, and regulators are taking note. CFPB Director Rohit Chopra recently said that the Bureau will scrutinize financial institutions for indications of “digital redlining” — the use of technology in a manner that may be discriminatory for members of protected classes seeking credit. And credit access is not the only fair lending focal point, with underwriting and pricing issues also in play as the financial services industry leverages technology throughout the product lifecycle. With the industry officially on notice, financial institutions and their service providers must ensure their compliance programs are up to speed in this rapidly evolving area of fair lending law.
Jonice Gray Tucker, Kari Hall, and Caroline Stapleton discussed how your business can use technology to increase predictive accuracy or access to credit, while also implementing effective controls to mitigate compliance risk.
A recording of this presentation is not available at this time. You can view many of our previous webcasts on demand by visiting our archive.