Finanse i konsumenci · 17/04/2024

CFPB Clarifies Adverse Action Notification Requirements and Proper Use of Sample Forms

The Consumer Financial Protection Bureau (CFPB) has released a new circular addressing the proper use of sample forms for adverse action notices, particularly when using artificial intelligence or complex credit models. The CFPB seeks to clarify when creditors can rely on the provided sample reasons for adverse action notices.