The proposed class action suit claims the fintech lender purposefully pushed customers applying for HELOC loans into higher rates, or misrepresented rates at the beginning.

Other financial regulators have been examining AI in underwriting because potential biases or otherwise faulty criteria could lead to bad outcomes, while agencies including the Federal Trade Commission are looking into non-financial companies.

Dean Wheeler will drive the firm's growth push in the U.S. and follows the London firm promoting Serenity Morley to COO, to drive growth globally.

The lender had previously revealed that personally identifying information from 16.6M customers had leaked, but hadn't offered these details.

16.6 million former and current Loandepot customers had their data leaked, the lender and servicer announced Monday.

Bank regulators Friday said the existing laws governing safety and soundness and fair lending are adequate to address risks posed by artificial intelligence, noting that while AI may be used to inform lending decisions, banks are ultimately responsible for compliance.

During a second day of comparatively mild questioning from lawmakers in semiannual oversight hearings, Consumer Financial Protection Bureau Director Rohit Chopra said artificial intelligence could exacerbate existing weaknesses in the financial system without tighter protections.

While Pagaya searches for a permanent successor, the company has named deputy CFO Evangelos Perros as interim CFO. Perros himself was named as deputy CFO in September 2023.

CyrusOne Data Centers Issuer 2023-2 adds a property in Virginia, a state that accounts for a large portion of data center locations.

Also, Wells Fargo, Finance of America entered into partnerships affecting real estate tax and cybersecurity solutions.