Keeping Fintech Fair: Thinking About Fair Lending and UDAP Risks
Event Details
Fintech is the latest wave in the continuing technological evolution of financial services. It presents opportunities for firms and consumers yet is not immune from the consumer compliance risks that exist in other financial services. Carol Evans and Katrina Blodgett of the Federal Reserve Board will discuss fair lending and unfair or deceptive acts or practices (UDAP) risks that may arise as financial institutions adopt new technologies to serve their customers and offer some general guideposts for evaluating those risks, with a focus on alternative data. This presentation is a companion to the article "Keeping Fintech Fair: Thinking About Fair Lending and UDAP Risks," which was published in Consumer Compliance Outlook.