Resources to help you navigate the changing regulatory landscape

Home appraisal illustration.

CFPB Rule: Accuracy & Accountability in AI, Algorithms, Appraisals

The Consumer Financial Protection Bureau (CFPB) approved a new rule to address the current and future applications of complex algorithms and artificial intelligence (AI) used to estimate the value of a home.

The new rule requires companies that use algorithmic appraisal tools to put safeguards into place to ensure a high level of confidence in the home value estimates, protect against manipulation of data, avoid conflicts of interest, and comply with applicable nondiscrimination laws.

You can read more here.

Access the ‘Compliance Hotline’
Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:

Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!

Additionally, other League-member compliance resources include:

  • ViClarity
  • CU PolicyPro
  • ComplySight
  • InfoSight
  • CU Store
  • Record Retention Guide
  • GRC Technology Solutions

For more information, email Lisa Quaranta.

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