Whitepaper: Improving Fair Lending With Artificial Intelligence (AI)



Author: Michael (Mickey) Marshall

Michael “Mickey” Marshall is a Director of Regulatory Legal Affairs for the Independent Community Bankers of America® (ICBA) where he promotes ICBA positions before policymakers and advises ICBA community bankers on regulatory and industry changes. A frequent speaker at industry events, including the Wolters Kluwer CRA and Fair Lending Colloquium, Marshall has been quoted in S&P Global Market Intelligence, Roll Call, and Bank Director Magazine. His areas of responsibility include the Community Reinvestment Act (CRA), Fair Lending laws, and the regulation of Industrial Loan Companies (ILCs).

Prior to joining ICBA, Marshall was a clerk at the law firm Wharton, Levin, Ehrmantraut, and Klein in Fairfax, VA. He holds a BA in political science from Youngstown State University and a JD from George Mason University’s Antonin Scalia Law School. At Scalia Law, Marshall graduated with a concentration in Financial Services Regulation Law and was Articles and Research Editor for the Journal of Law, Economics & Policy.

Arun Iyer

Author: Arun Iyer

Arun is a Business and IT leader with 23+ years of experience in the Banking and Financial Services industry in areas such as product management, operating model design, business architecture, process optimization and information management. Arun has a keen interest in building innovative solutions and at HEXANIKA he is responsible for Product Strategy and Roadmap while also enabling the Business and Sales functions.

In his previous role as Global Head of Financial Services at Tech Mahindra he was responsible for incubating platform-based solutions and driving digital initiatives in areas such as RPA, machine learning and business intelligence. Before that he was Director – Business Consulting at Cognizant Technology Solutions responsible for areas such as strategy and planning, consulting, solution conceptualization, pre-sales, product alliances, and operations. He has domain expertise in Capital Markets, Asset and Wealth Management and Regulatory Compliance.


Author: Robert Browne

Robert (Bob)  is an Experienced banker with over 40 years of industry experience in a broad array of areas within community banks and credit unions. Past 20 years he is a consultant to financial institutions nationwide with regard to Strategy, M&A, Operations, Payment Systems, Information Technology, Compliance and Lending related issues. Strong leadership skills combined with a long track record of innovation. He was co-creator of Check 21and is strategic Advisor at Tweezzle 

Co- Author: Justin Muscolino

Justin Muscolino is CEO & Founder of Tweezzle. He is an experienced compliance training professional with over 20 years of creating and developing Compliance training programs, managing regulatory projects, liaising with regulators, and identifying gaps/opportunities for improvements in risk mitigation. 

Justin will moderate the event today and without any further delay, I will hand over the session to him. 

Improving Fair Lending With Artificial Intelligence (AI)

In a 2018 Report, the Department of the Treasury assessed the outlook for the implementation of AI in financial services as follows, “Treasury recognizes that the increased application of developing AI and machine learning technologies can provide significant benefits by improving the quality of financial services for households and businesses and supplying a source of competitive strength for U.S. firms. Regulators, therefore, should not impose unnecessary burdens or obstacles to the use of AI and machine learning and should provide greater regulatory clarity that would enable further testing and responsible deployment of these technologies by regulated financial services companies as the technologies develop.”

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