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Topic

AI in lending

The use of machine learning and other automated software in underwriting, pricing and approving credit, and the consumer-protection rules that govern it.

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invest1 publisher

Twenty-six attorneys general ask Congress to spare state AI laws like Colorado's lending rule

Twenty-six attorneys general urged Congress to spare state AI laws, including Colorado's 30-day rule for explaining AI's role in adverse loan decisions. The letter asks nothing specific of banks, so the obligation lenders have to plan for starts in Colorado on Jan. 1 unless the Justice Department blocks it first.

Reality

Evidence55
Adoption20
Hype gap+30
Incentives60
Confidence50