Manufactured homes have been unfairly stigmatized in the past, but there’s no argument that they are a source of high-quality, relatively low-cost housing, especially in rural areas.

Many years ago when I was in college I worked on a charter fishing boat for a summer. I learned a great deal over those months — how to tie a line and net a fish, how to cut bait and weigh an anchor, the different kinds of fish in the Chesapeake Bay, when they run and which ones have sharp teeth. But the two most important lessons I learned were, first, that I am not capable of earning a living through manual labor, and second, that confident obfuscation is a suitable alternative to expertise. Or, as the first mate who trained me put it, "If you can't dazzle them with brilliance, baffle them with [nonsense]."

The OpenAI CEO called for a federal testing framework for AI safety OpenAI Chief Executive Sam Altman gave President-elect Donald Trump advice on how to accelerate the artificial-intelligence revolution at the FinRegLab AI Symposium in Washington on Thursday.

Consumer Financial Protection Bureau Director Rohit Chopra said the shortcomings of the FICO credit-scoring model are becoming unacceptable and urged regulators and lenders to develop a new model based on artificial intelligence to replace it.

OpenAI Chief Executive Sam Altman gave President-elect Donald Trump advice on how to accelerate the artificial-intelligence revolution at the FinRegLab AI Symposium in Washington on Thursday.

Acting Comptroller of the Currency Michael Hsu warned against regulators giving banks or other financial firms too much leeway in exploring applications for artificial intelligence, saying instead that regulators and firms should "co-learn" about this emerging technology together.

House Republicans vying to chair the Financial Services Committee are ramping up their campaigns to win over key GOP powerbrokers. MM has a sneak peek at the pitches (and related apparel) from two top contenders, Reps. Andy Barr and French Hill, who are trying to tie their proposed agendas to President-elect Donald Trump.

FinRegLab Deputy Director Kelly Cochran joins RegFi cohosts Jerry Buckley and Caroline Stapleton for a conversation about how machine learning – including generative artificial intelligence – is used by consumer lenders and the evolving regulatory response. Kelly begins with a helpful distinction between the technologies commonly included under the broad “AI” moniker, noting that many of these algorithmic models are not new to credit underwriting. The discussion then pivots to the growing focus on generative AI and the need to balance its potential benefits with consumer protection, data privacy and explainability considerations. Kelly suggests that existing rules in the financial services regulatory framework can be adapted to address many of these issues and serve as a model for AI policymaking in other sectors.

“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.”

Consumer Reports released a video series exploring biases in machine learning algorithms and data sets and the resulting unfair practices faced by communities of color. The series is designed to educate consumers on the risks hidden in seemingly “neutral” technologies. FinRegLab CEO Melissa Koide is featured in the Mortgage Lending episode of the series.