FinRegLab Events

Federal Regulatory Considerations for the Use of Artificial Intelligence in Credit Underwriting

FinRegLab Webinar – December 10, 2020

FinRegLab presents a webinar with diverse leading voices from the federal regulatory community on the use of artificial intelligence in credit underwriting. The event focuses on regulators’ perspectives in relation to explainability and fairness in consumer and small business credit underwriting models where all credit stakeholders – lenders, advocates, and policymakers – are considering the implications of a broad transition to AI-based underwriting.

The webinar is moderated by FinRegLab CEO Melissa Koide and includes the following participants:

Melissa Koide

CEO & Director

Carol Evans

Associate Director, Division of Consumer and Community Affairs

Patrice Alexander Ficklin

founding Director of the Office of Fair Lending & Equal Opportunity
Consumer Financial Protection Bureau

Jonathan Miller

Deputy Director for Policy and Analytics, Division of Depositor and Consumer Protection

Donna Murphy

Deputy Comptroller, Compliance Risk Policy

Regulators are having to both shape and adapt to the new technical and economic realities of AI in financial services. Although regulators have extensive pre-existing frameworks and guardrails to help ensure these technologies are safely and fairly applied in uses like credit underwriting, questions remain over how technologies like machine learning models operate, how they treat data, and how they may affect financial inclusion and fairness. In this session, we explore regulatory perspectives on both the opportunities and risks AI in financial services represents and what technical and market-oriented questions remain, especially from the standpoint of leveraging technology to be more inclusive of underserved populations in the formal economy through access to credit.

Related Publications

  • Explainability and Fairness in Machine Learning for Credit Underwriting

    FinRegLab worked with a team of researchers from the Stanford Graduate School of Business to evaluate the explainability and fairness of machine learning for credit underwriting. We focused on measuring the ability of currently available model diagnostic tools to provide information about the performance and capabilities of machine learning underwriting models. This research helps stakeholders… Learn More

About FinregLab

FinRegLab is an independent, nonprofit organization that conducts research and experiments with new technologies and data to drive the financial sector toward a responsible and inclusive marketplace. The organization also facilitates discourse across the financial ecosystem to inform public policy and market practices. To receive periodic updates on the latest research, subscribe to FRL’s newsletter and visit Follow FinRegLab on LinkedIn and Twitter (X). | 1701 K Street Northwest, Suite 1150, Washington, DC 20006