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algorithmic bias

CFPB Director Rohit Chopra speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., on June 13, 2023. (Photo by Michael A. McCoy/Getty Images)

CFPB urged by consumer groups to take action on banks’ use of algorithms

Consumer Reports and the Consumer Federation of America ask the agency for “regulatory clarity” on how financial institutions use “discriminatory” tools to guide credit decisions.
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