American Bankers Association filed 1 comment on this docket between May 18, 2017 and May 18, 2017. 27 other organizations filed here. The comment window closed 3357d ago.
Please see the attached file from Nessa Feddis with the American Bankers Association regarding the CFPB's request for information on Use of Alternative Data and Modeling Techniques in Credit Process.
The Consumer Financial Protection Bureau (CFPB or Bureau) seeks information about the use or potential use of alternative data and modeling techniques in the credit process. Alternative data and modeling techniques are changing the way that some financial service providers conduct business. These changes hold the promise of potentially significant benefits for some consumers but also present certain potentially significant risks. The Bureau seeks to learn more about current and future market developments, including existing and emerging consumer benefits and risks, and how these developments could alter the marketplace and the consumer experience. The Bureau also seeks to learn how market participants are or could be mitigating certain risks to consumers, and about consumer preferences, views, and concerns.
View on regulations.gov →