Redlining Goes Digital — What Your Institution Needs to Know

Webinar | January.11.2022 | 2pm - 3pm (Central Standard Time)

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.

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. This discussion is a must-attend for any in-house attorney or compliance professional at a financial services company that uses, or is considering using, these new technologies in any aspect of consumer credit.