February 17, 2022 – FSIC’s Brady J. Buckner (President, FSIC) interviews Dr. Kortney Ziegler who is the 2021 CCSRE Race & Technology Practitioner Fellow at Stanford University and an expert on financial technologies like cryptocurrency and blockchain. Dr. Ziegler started WellMoney, a money sharing community program where participants can receive cash money through the WellMoney App for financial emergencies.
Today, the American Innovation and Opportunity Fund (AIOF), in conjunction with pharmacy benefit manager (PBM) EmsanaRx, announced a new initiative to help combat health disparities. Aimed at empowering communities of color and other underserved Americans to access and use the health care resources available in the U.S., this initiative comprises community leaders, academics and corporate leaders committed to this cause.
Recently, the director of the CFPB, Rohit Chopra, publically warned banks that depending too much on Artificial Intelligence (AI) and algorithmic lending during the mortgage application approval process might lead to fair lending violations. He contends that all AI-based algorithms have built-in bias and will always have some bias. Our question to the CFPB is, why haven’t they made the same warning to traditional lenders (banks) whose approval processes result in alarming levels of documented bias against disadvantaged and minority borrowers?