Financial institutions that use complex algorithms in their lending decisions are legally required to provide a specific explanation to consumers who are denied credit, the Consumer Financial ...

Companies relying on complex algorithms must provide specific and accurate explanations for denying applications Washington, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) confirmed ...

TikTok’s swift ascension to the upper echelons of social media is often attributed to its recommendation algorithm, which predicts viewer preferences so acutely it’s spawned a maxim: “The TikTok ...

In September 2023, the Consumer Financial Protection Bureau (CFPB) issued guidance on the use of artificial intelligence in issuing credit denials, a prevalent practice among lenders. The CFPB ...

If you’re going to get sucked in by social media, at least make it worthwhile. TikTok, and many other platforms, use a “black-box” algorithm — an AI recommendation system that studies what captures ...