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Credit unions need to be cognizant and vigilant in protecting and ensuring fair outcomes for their borrowers – this will always be true, especially when a credit union is considering adding to its technology ­toolkit.

However, Mr. Henry C. Meier’s June 21 article, “Can AI and Fair Lending Coexist?” disserves the credit union industry by characterizing all fair lending AI as a technology to be apprehensive of due to complexity and regulatory challenges. He mischaracterizes the types of AI available to credit unions as all involving generative learning patterns technology like ChatGPT, which he posits is incompatible with the regulatory framework governing consumer lending. While a good headline, this is far from today’s reality of AI and machine learning technologies helping credit unions drive more efficient, compliant and fairer decisions.

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