Kelly Cochran moderated a panel on “Scaling Credit Access for MBEs Through Cash-Flow Data and Mission-Based Lenders”

Melissa Koide participated in a panel on artificial intelligence.

“Melissa discusses her organization’s work in evaluating the explainability of complex machine learning algorithms in credit underwriting, model governance and adverse action notices. The conversation covers the CFPB’s recent guidance on credit denial by lenders using artificial intelligence as well as the role explainability plays in promoting fairness and inclusion in lending, methods and tools emerging for lenders to explain credit-related decisions based on AI models, and the ongoing work required to adapt to the digital economy and evolving regulatory landscape.”

This additional study of COVID-19 loan forbearances probes the benefits of combining short-term payment relief with longer term assistance plans for the most vulnerable consumers struggling with credit card debt.

Kelly Cochran spoke on a panel about generative AI and its potential to intersect or disrupt academic research and financial markets.

FinRegLab’s testimony provides a general overview of the state of ML/AI adoption across various financial services use cases; potential benefits and risks to customers, providers, and the broader economy; and the ways that federal financial regulatory frameworks are shaping ML/AI adoption in this sector.

Melissa Koide gave a fireside chat on “Driving Purpose & Profit Through Financial Inclusion – From the Ignored to the New Frontier of Financial Services.”

This working paper focuses on consumers who struggled to manage credit card and other unsecured debt during the pandemic, analyzing the extent to which consumers obtained card and other forbearances from lenders and shifts in patterns of consumers who sought credit counseling and enrolled in debt management plans through September 2021.