President Biden Signs Executive Order 14110 on AI, Pushes Bank Regulators to Curb Bias

November 01, 2023

On Monday, October 30th, 2023, the President signed Executive Order 14110, calling on the FHFA and CFPB to evaluate their regulated entities' use of AI for bias against protected groups in underwriting and appraisal models. Additionally, the order requires the FHFA and CFPB to issue guidance on the use of AI in tenant screening and real estate advertising within 180 days.

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