On April 25, officials from the Federal Trade Commission (FTC), the Civil Rights Division of the U.S. Department of Justice (DOJ), the Consumer Financial Protection Bureau (CFPB), and the U.S. Equal Employment Opportunity Commission (EEOC) (together, the Agencies) issued a joint statement warning against the potential for automated systems, including artificial intelligence (AI), used in credit decisions, housing, and employment opportunities to “perpetuate unlawful bias,” “automate unlawful discrimination,” and produce other “harmful outcomes.” To combat these perceived risks, the Agencies resolve to monitor the development and use of automated systems and promote responsible innovation while underscoring that “[e]xisting legal authorities apply to the use of automated systems and innovative new technologies just as they apply to other practices.”
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SACRAMENTO, Calif -- In 2021 the Department of Financial Protection and Innovation (DFPI) announced the formal creation of its Debt Collection Advisory Committee, a seven-member board that would provide critical feedback to the Department. As the first 2-year term (2021-2023) comes to a close a new committee has been appointed for the 2023-2025 term.
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The CFPB has filed a Statement of Interest in a case pending before a Florida federal district court in which the plaintiffs allege that the defendant engaged in discriminatory targeting in violation of the Equal Credit Opportunity Act (ECOA).
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