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Home » CFPB expands guidance on adverse action notice

CFPB expands guidance on adverse action notice

Guidance marks a shift in bureau’s tone

Joey PizzolatobyJoey Pizzolato
September 20, 2023
in Compliance
Reading Time: 3 mins read
0
The Consumer Financial Protection Bureau headquarters

© 2020 Bloomberg Finance LP, Photographer: Ting Shen/Bloomberg

The Consumer Financial Protection Bureau has doubled down on adverse action requirements for lenders using AI-based underwriting with new guidance, marking a shift in tone from its previous guidance in 2022.   A CFPB blog post Tuesday echoed guidance issued in 2022, but largely focused on adverse action notices’ accuracy and specificity requirements, Brian Fink, partner […]

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