Published 4 months ago

Harris announces new actions to tackle racial bias in home appraisals

Vice President Harris announced a new rule to prevent racial bias in home appraisals by ensuring that financial institutions' automated home valuation algorithms are fair and accurate. The rule would require AVMs to adopt quality control standards, safeguards against data manipulation and conflicts of interest, and conduct random sampling.
The administration will make it easier for consumers to appeal biased property valuations and seek reconsideration of value policies. It will also update a public dataset on home appraisal records, add more records, and reduce unnecessary barriers to increase diversity in the appraiser profession.

Insights by Ground AI

Does this summary seem wrong?

More
Filters

19 Articles

All

Left

Center

Right

Associated Press News

New federal proposal aims to stop racial bias in formulas used to value homes

WASHINGTON — Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure

4 months ago·United States

Read Full Article

abc News

New federal proposal aims to stop racial bias in formulas used to value homes

Vice President Kamala Harris says federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure that the automated formulas used to price housing are fair

4 months ago·United States

Read Full Article

The Hill

Harris announces new actions to tackle racial bias in home appraisals

Vice President Harris on Thursday announced a new rule to require financial institutions to ensure their home appraisal algorithms are not contributing to racial bias in home valuations. The rule, subject to a 60-day public comment period, aims to establish quality control standards to help ensure accuracy and fairness for Automated Valuation Models (AVM), the…

4 months ago·Washington, United States

Read Full Article

Financial Post

New federal proposal aims to stop racial bias in formulas used to value homes

WASHINGTON (AP) -- Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure that the automated formulas used to price housing are fair.

4 months ago·Canada

Read Full Article

MY Northwest

New federal proposal aims to stop racial bias in formulas used to value homes

WASHINGTON (AP) — Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home

4 months ago·Tacoma, United States

Read Full Article

NBC News

Kamala Harris announces rule to tackle racial bias in home valuations

The Biden administration is developing a rule to require banks to ensure their home appraisal algorithms aren't racially biased, Kamala Harris said Thursday.

4 months ago·United States

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year