The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's doing just that.

The announcement comes as the bureau's director regularly voices doubts about whether algorithmic models can be entirely nondiscriminatory and warns companies of potential enforcement from violations.

The head of data and digital at Ally Bank came up with protective measures governing the use of generative AI and organized "AI Days" for employees to learn about Ally's progress.

Leadership across all financial services was more likely to see a significant skills gap in today's workforce compared to the mortgage industry, according to Arizent's research.

The new Optimal Blue CEO worked for the past year-plus at Medallia, and will bring that broader experience to the mortgage industry as it adopts generative AI.

Lenders need to look at both data and algorithms to avoid inadvertent redlining complaints, not just in decision making but customer contact too.

The pairing of these rule sets can multiply the layers of compliance to vet when adopting new technology. Here's how experts suggest approaching this challenge.

With millions of Black and Hispanic consumers likely to become new homeowners over the coming decades, the lending community stands to benefit if they are willing to combine expanded underwriting with direct outreach.

Executive Vice President of Strategy and Growth at Clear Capital, Kenon Chen, on how the company is using machine learning and computer vision to analyze and compare property values.

In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.