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CFPB Director Rohit Chopra speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., on June 13, 2023. (Photo by Michael A. McCoy/Getty Images)

CFPB urged by consumer groups to take action on banks’ use of algorithms

Consumer Reports and the Consumer Federation of America ask the agency for “regulatory clarity” on how financial institutions use “discriminatory” tools to guide credit decisions.
WASHINGTON, DC – DECEMBER 13, 2022: Rep. Ted W. Lieu (D-CA), incoming vice chair of the House Democratic Caucus (C), Rep. Pete Aguilar (D-CA) incoming Democratic Caucus chair (L) and incoming Whip Rep. Katherine Clark (D-MA) (R) speak during a press conference with incoming House Democratic Leadership at the U.S. Capitol. (Photo by Nathan Howard/Getty Images)

Reps. Buck and Lieu: AI regulation must reduce risk without sacrificing innovation

In interviews with FedScoop, the congressional AI leaders share their unique and at times contrasting visions for regulation of the technology.
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IN SPACE – JULY 12: In this handout photo provided by NASA, a landscape of mountains and valleys speckled with glittering stars is actually the edge of a nearby, young, star-forming region called NGC 3324 in the Carina Nebula, on July 12, 2022 in space. (Photo by NASA, ESA, CSA, and STScI via Getty Images)

‘Morpheus’ ML model key to deciphering James Webb Space Telescope’s high-resolution images

The machine learning model was developed to classify every pixel of a JWST image as an astronomical object like stars and galaxies.
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