US EditionMA Settles With Student Loan Company Over Allegations of Unlawful AI Model Use - Weiner Brodsky Kider PC
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MA Settles With Student Loan Company Over Allegations of Unlawful AI Model Use - Weiner Brodsky Kider PC
The Massachusetts Attorney General recently announced a $2.5 million settlement with a student loan company over allegations that the company, among other things, engaged in unfair and deceptive practices by using an insufficiently-tested algorithmic artificial intelligence (AI) model to make lending decisions. The AG also settled allegations that the company violated ECOA by issuing inaccurate and non-specific adverse action notices (generated…
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