The Consumer Financial Protection Bureau and three other federal agencies on Tuesday issued a joint statement cautioning financial firms that use of artificial intelligence could increase risk of bias and civil rights violations.
Tag: Department of Justice

MBA Amicus Brief: Lenders Not Liable for Actions of Independent Appraisers
The Mortgage Bankers Association on Friday filed an amicus brief in litigation in response to a statement of interest filed by the Consumer Financial Protection Bureau and Department of Justice examining the liability standard that would apply to lenders for the acts of independent, third-party appraisers.

CFPB, DOJ Issue Joint Letters on Servicemember/Veterans’ Rights
The Consumer Financial Protection Bureau and the Department of Justice on Monday issued two joint letters Monday on legal housing protections for military families.

MBA Letter of Support for Grassley Amendment to False Claims Act
The Mortgage Bankers Association last week sent a letter to Sen. Charles Grassley, R-Iowa, in support of his amendment to a bill that would make changes to enforcement of the False Claims Act.

HUD, Justice Department Reach Agreement on False Claims Act Violations
AUSTIN, TEXAS–HUD and the Department of Justice yesterday signed a memorandum of understanding outlining “prudent” guidance for False Claims Act violations, a move that analysts said could help eliminate uncertainty in FHA lending and provide incentives for private market lending in government lending programs.