Reconciling AI With Fair Lending and Consumer Protection

Episode notes

When it comes to AI in the consumer financial services context, U.S. laws lag somewhat behind the technology. But as Darren Welch explains in this edition of “Fintech Focus,” regulators are indeed targeting AI. Skadden consumer financial services partner, Darren Welch joins host Joseph Kamyar in this episode of “Fintech Focus” for a discussion on AI in the fintech sector, specifically fair lending and consumer protection. Darren breaks down how regulators enforce transparency in lending decisions and how lenders can mitigate risk. He notes: “We’ve worked with a lot of clients on helping them set up their fair lending testing protocols and responding to regulatory inquiries about fair lending testing.” Meet Your Host Name: Joseph Kamyar Title: European Counsel, Corporate at Skadden Specialty: “Fintech Focus” host and European counsel Joseph Kamyar advises on a wide variety of corporate transactions, including cross-border private mergers and acquisitions, fundraisings, joint ventures, corporate reorganizations and general corporate matters, with a particular focus on the financial services, technology and media sectors.

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