Late last month, the Consumer Financial Protection Bureau (CFPB) took another step toward adopting rules governing the use of artificial intelligence (AI) and algorithms in appraising home values.
Late last month, the Consumer Financial Protection Bureau (CFPB) took another step toward adopting rules governing the use of artificial intelligence (AI) and algorithms in appraising.
On February 23, the CFPB outlined a proposal for upcoming joint rulemaking to prevent algorithmic bias in automated home valuation models (AVMs). Here, the CFPB is specifically focused .
CFPB outlined a proposal for upcoming joint rulemaking to prevent algorithmic bias in automated home valuation models AVMs. Here, the CFPB is specifically focused on the potential for AVMs to pose fair lending risks to homebuyers and homeowners.