During the Illinois General Assembly veto session the last week of October, Woodstock Institute and other consumer groups made the case that lawmakers should not proceed with a regulatory “sandbox”-like licensing scheme whereby a financial technology (“fintech”) company could...
Federal financial regulators published a Request for Information (RFI) to gather input from the public on how financial institutions use artificial intelligence (AI) and machine learning (ML) in lending and what factors regulators should consider for regulatory oversight of...
… Horacio Mendez, president and CEO of the Woodstock Institute, a nonprofit policy group that advocates for fair lending and economic equality, said that, in the past, many bureau investigations ended in settlements that he and other advocates believed...
A robo-advisor is, in simplest terms, a robot – an automated process—that gives financial investment advice. As a substitute for traditional human-driven wealth management service providers, robo-advisors use algorithms to automate investment decisions personalized to consumers who input their...