The Biden Justice Department had reached the settlement with Lakeland Bank, later absorbed by Provident Bank, over ...

On May 27, the CFPB filed a notice of dismissal with prejudice in its lawsuit against a lease-to-own fintech provider. The ...

The parties agreed April 30 to dismiss with prejudice a Biden-era update to the CFPB’s unfair practices manual that would have allowed the bureau’s examiners to investigate banks for discrimination ...

UDAAP (Unfair, Deceptive ... For instance, the FCRA and ECOA ensure that banks make fair, unbiased, and transparent lending decisions. Similarly, TILA mandates the clear disclosure of loan ...

"I think those would equate to UDAAP concerns if there was something that was provided ... Meanwhile, exemplifying the kind of new scrutiny of fair lending risks that might arise when AI gets used for ...

Compliance-related hurdles, such as perceived heightened scrutiny of fair lending practices, continued reliance on ... Deceptive or Abusive Acts or Practices (UDAAP) compliance (67%) and CRA rule ...

The plaintiff also claimed the alleged practice was a violation of the Uniform Deceptive and Abusive Practices (UDAAP) Act since ... covenant of good faith and fair dealing and a violation of ...

Finally, the CFPB says it is using its ECOA and UDAAP authority to look at bias in automated systems and models, including the targeting of vulnerable populations. The annual fair lending report ...

Actually, it’s more than fair lending. It’s a broad approach that considersfair and responsible banking. Regulators are applying UDAAP definitions to a wide range of products and services ...