Researchers from Lehigh University concluded that telling commercially available language learning models, like ChatGPT, to "use no bias" significantly minimized it.

The industry would benefit from a measured approach that eventually builds in-house expertise without overreliance on vendors, experts said.

If efforts to make AI-based loan decision models less discriminatory degrade accuracy, that is problematic for the entire industry. 

Following a breach at National Public Data, the National Consumer Law Center recommended consumers consider a credit freeze, but that could also hinder a mortgage applicant's home purchase depending on where they are in the process, an expert says.

Loandepot and Mr. Cooper said they've spent tens of millions of dollars this year following recent, major hacks.

Benutech's former CEO will head Voxtur, which is selling a majority stake in Blue Water Finance Technologies and repositioning itself in real estate lending.

A new government effort intends to tackle unfriendly consumer practices. The CFPB is tasked with addressing chatbot misuse and customer service "doom loops."

The lender and servicer saw origination volume jump to $6.5 billion as of June 30, up from $3.9 billion the previous quarter.

The three banks recently named new executives to oversee their technology teams.

Mr. Cooper's PII leak late last year had a significant impact on its customers. Money has been stolen, unauthorized attempts to open credit cards occurred and extensive spam campaigns have followed, a filing claims.

The lender says it's reached an "agreement in principle" to end a consumer class action complaint over its wide-ranging January hack.

A court finalized Zillow and Showingtime.com's voluntary dismissal of the case, which has been part of broader litigation over multiple listing service access.

United Wholesale Mortgage, Celink, Cenlar and others are utilizing artificial intelligence to streamline call center operations.

The Consumer Financial Protection Bureau has received more than 11,000 comment letters on its proposal on personal financial data rights, but banks say the agency should ensure that more fintech partners take on their fair share of the rule's compliance burden.

Industry participants say more direct communication between fintechs and federal regulators could help avoid bad outcomes. Some underused legal tools could help bridge the gap.

The federal Project Fortress initiative provides defensive tools for banks. Community banking groups and regulators' associations say small banks in particular need the free and accessible help.

Financial institutions have trouble pinning down a common definition of AI and figuring out which of their processes incorporate the technology. That can lead to trouble with regulators.

The cybersecurity company promised more rigorous tests for software updates after a widespread IT outage last month.