The Bureau of Consumer Financial Protection has opened a sweeping inquiry into how credit discrimination occurs and could be averted, seeking comments and suggestions without indicating any possible policy responses.  However, the issues on which it seeks comment are guideposts to the agency’s near-term regulatory priorities, spelling out what could prove an ambitious agenda redefining consumer-finance regulation to speed artificial intelligence (AI) and machine learning (ML) adoption and increase the scope of federal preemption.
The full report is available to retainer clients. To find out how you can sign up for the service, click here.