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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.
(iStockphoto)

Big banks join UBS on blockchain plan

Three of the world's largest banks have joined with UBS in its plan to use blockchain to document and secure interbank settlements, underlining the transformative potential of…
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