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Retrieved on: 2024-10-28 01:19:45
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Summary
The article examines AI's growing role in U.S. consumer lending, highlighting risks like bias and lack of transparency. It discusses the Consumer Financial Protection Bureau's regulatory actions and advocates for banks to reduce AI-related risks. The key concept, "Explainable AI," is crucial for ensuring AI's transparency and fairness in this industry, echoing concerns about algorithmic bias and regulatory needs highlighted by the tags.
Article found on: www.mondaq.com
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