In this episode of The Consumer Finance Podcast, Chris Willis takes a deep dive into the Treasury Department’s Consumer Financial Protection Bureau (CFPB)’s recent response to requests for information on the use of artificial intelligence (AI) in financial services. Chris highlights key points from the CFPB’s communications, including his views on the CFPB’s fraud model, fair loan testing standards, implications for financial institutions, and more. He also discusses his CFPB candor about the CFPB’s Office of Innovation and its future.
In this episode of The Consumer Finance Podcast, Chris Willis takes a deep dive into the Treasury Department’s Consumer Financial Protection Bureau (CFPB)’s recent response to requests for information on the use of artificial intelligence (AI) in financial services. Chris highlights key points from the CFPB’s communications, including his views on the CFPB’s fraud model, fair loan testing standards, implications for financial institutions, and more. He also discusses his CFPB’s outspoken comments regarding the CFPB’s Office of Innovation and the future of regulatory treatment of individual companies. This episode is a must-listen for anyone in the financial services industry who wants to stay informed about regulatory expectations and compliance challenges. See more –
