Media Coverage

Automated Savings Platforms Fined for Bots Gone Rogue

August 19, 2022

The CFPB is paying closer attention to data-harvesting and algorithm-centric businesses. For insight as to why, Forbes spoke to Michael R. Guerrero.

"I think they have a skepticism towards algorithms because it's not overtly clear, at least according to the Bureau, what the algorithm is doing,” he said. “Is it too complicated? Is it too opaque? They want to know that companies really understand the algorithm and that the algorithm is operating as it should.”

Mr. Guerrero is a member of Ballard Spahr's Business and Transactions Department and Consumer Financial Services team.

Read the full article here. (Subscription may be required.)



Subscribe to Ballard Spahr Mailing Lists

Get the latest significant legal alerts, news, webinars, and insights that affect your industry.