Kari K. Hall discussed “Fair lending and artificial intelligence” at the American Bar Association Business Law Section Spring Meeting
Kari Hall drew upon her years of experience in retail banking to discuss how companies are, and should be, preparing for the Consumer Financial Protection Bureau’s renewed focus on fair lending and the role that artificial intelligence will play.
Discussion topics included:
- What fair lending concerns do in-house and outside counsel have currently, and how are those concerns expected to change over the next year or so? How might fair lending controls change to address potential changes?
- How are companies using AI, and what interplay does the use of AI have with fair lending?
- What does the Agencies' RFI on Financial Institutions' Use of Artificial Intelligence, Including Machine Learning tell us about where the Agencies might be heading regarding AI? Is this a positive sign from the Agencies regarding the use of AI?