In its revamped whistleblower webpage, the CFPB is enlisting the help of whistleblowers to provide tips about the following issues:
Any discrimination related to consumer financial products or services or small businesses
Any use of artificial intelligence/machine learning models that is based on flawed or incomplete data sets, that uses proxies for race, gender, or other group characteristics, or that impacts particular groups or classes of people more than others;
Misleading or deceptive advertising of consumer financial products or services, including mortgages
Failure to collect, maintain, and report accurate mortgage loan application and origination data
Failure to provide or use accurate consumer reporting information
Failure to review mortgage borrowers’ loss mitigation applications in a timely manner
Any unfair, deceptive, or abusive act or practice with respect to any consumer financial product or service.
The CFPB has also announced that it seeks tips to help it combat the role of Artificial Intelligence in enabling intentional and unintentional discrimination in decision-making systems. For example, a recent study of algorithmic mortgage underwriting revealed that Black and Hispanic families have been more likely to be denied a mortgage compared to similarly situated white families.
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