AFSA’s State Government Affairs team published it’s May white paper focusing on algorithms, artificial intelligence, and automated decisionmaking.
Artificial intelligence (AI) and algorithms have transformed numerous industries, including financial services. The financial services industry uses AI and algorithms in numerous ways to improve efficiency and reduce bias, such as in the credit underwriting process. In recent years, the use of algorithms and artificial intelligence have been the subject of legislative and regulatory scrutiny by federal, state and local policymakers.
The white paper takes a deep dive into recent legislation governing the use of AI and algorithms, with a focus on the District of Columbia and states like California. In addition, the white paper describes recent actions by the White House and federal agencies like the Consumer Financial Protection Bureau governing the use of these tools.
This paper, along with SGA’s other white papers, can be found on the SGA resources section of AFSA’s website.
May White Paper | Algorithms, AI, and Automated Decisionmaking
May 02, 2023
AFSA’s State Government Affairs team published it’s May white paper focusing on algorithms, artificial intelligence, and automated decisionmaking.
Artificial intelligence (AI) and algorithms have transformed numerous… Read the rest
FEATURED BUSINESS PARTNER | RSM
May 01, 2023
The featured Premier Business Partner for May is RSM.
RSM US LLP is the leading provider of audit, tax and consulting services focused on the middle market, with 9,000 people in 90 offices nationwide. Our full range of services help specialty… Read the rest
Economic Matters
Apr 27, 2023
Economic growth slowed sharply in first quarter of 2023; consumer spending held solid, but for how much longer?
The Bureau of Economic Analysis’ advance estimate of real GDP for the first quarter of 2023 showed an increase of 1.1 percent compared… Read the rest
LISTEN | Melinda Zabritski on the State of the Vehicle Finance Industry
Apr 26, 2023
In this edition of the AFSA Extra Credit Podcast, Dan chats with Melinda Zabritski, Senior Director for Experian’s automotive financial services team. She swings by to give listeners a look into what we can glean from Experian’s… Read the rest
WATCH | Lender Best Practices in VPPs
Apr 26, 2023
Join us TOMORROW April 27 at 2:00 p.m. ET for Voluntary Protection Products – Lender Best Practices to Address the Compliance Risk presented by F&I Sentinel.
Over the last several years, scrutiny placed on lenders in connection with … Read the rest
AFSA Supports CFPB Transparency
Apr 26, 2023
This week, AFSA submitted a comment letter to House Financial Services Committee Chair Rep. Patrick McHenry (R-NC) and Ranking Member Rep. Maxine Waters (D-CA) supporting the Consumer Financial Protection Bureau (CFPB) Transparency … Read the rest
Study: MoneySKILL Improves Financial Literacy
Apr 26, 2023
The AFSA Education Foundation is finishing Financial Literacy Month with a bang by releasing impressive research findings from an impact evaluation done in collaboration with Professor of Economics Dr. Carly Urban from Montana State University.… Read the rest
LISTEN | Industry Icon Ginger Herring
Apr 21, 2023
The AFSA Extra Credit Podcast Industry Icon series continues, featuring outstanding female leaders in the consumer credit industry. This episode features Ginger Herring, President & CEO of 1st Franklin Financial. She chats with Danielle… Read the rest
A Full House in Vegas
Apr 20, 2023
There was no gambling or bluffing needed at the 2023 Independents Conference & Expo; we had a full house and a full schedule of informative speakers and great networking opportunities.
The conference is a crucial resource for the consumer… Read the rest
AFSA Joins Coalition Letter on Noncompete Agreements
Apr 19, 2023
Today, AFSA joined a coalition letter commenting on the FTC’s proposed rule to ban noncompete agreements. AFSA, with the U.S. Chamber of Commerce and 280 other organizations express concerns regarding the proposed rule. The letter… Read the rest