Card issuer policies can vary on how to request a credit limit increase, as well as the criteria that companies use to approve or decline a request. Learn the process for getting a Chase credit ...

The Consumer Financial Protection Bureau issued guidance on the use of artificial intelligence in credit underwriting, saying that creditors are relying too heavily on a CFPB checklist and sample ...

The biggest-ever study of real people’s mortgage data shows that predictive tools used to approve or reject loans are less accurate for minorities.

CFPB issues new circular on application of ECOA adverse action notice requirements to credit decisions using algorithms John Culhane Jr., Michael Gordon Ballard Spahr LLP + Follow Contact ...

The New York State has launched an investigation into Apple Card and the algorithm used by to determine the "creditworthiness" of applicants.

The issue is the growing reliance of creditors on complex algorithms fed by vast datasets, sometimes sourced from consumer surveillance. Such algorithms may decline credit based on factors not ...

Bigger datasets are said to be better for training machine learning algorithms. But critics seek limits — and change ...

Goldman Sachs US bank CEO Carey Halio said customers will be able to appeal their credit limit if they think it's suspiciously low.

Apple’s new credit card is being investigated by financial regulators after customers complained that the card’s lending algorithms discriminated against women.

Many firms are keen to implement AI in their credit decision-making process, but hurdles still remain to incorporating the tech.

Apple Inc co-founder Steve Wozniak joined in the online debate accusing the algorithm behind the iPhone maker's credit card of discriminating by gender, deepening the scrutiny surrounding the ...