Definition
If your application for credit is rejected, the creditor owes you an accurate explanation—even if it was an artificial intelligence system or complex algorithm that made the decision, the government’s consumer watchdog says. Key Takeaways Companies that deny credit to consumers must provide an accurate explanation why, even if it was made by an inscrutable "black box" algorithm, the CFPB says.The
In Panel Profits
In the Panel Profits market platform, Denied Credit By An AI? You're Owed A Full Explanation, Regulator Says applies standard financial concepts principles to comic assets and physical collections.
Common mistakes
Do not infer unobserved prices.