President Joe Biden’s forthcoming executive order on artificial intelligence is taking aim at discrimination in the housing market, calling on federal agencies to crack down on lending bias.
Biden is due to speak about the order at 2:30 p.m. Eastern today. In a summary of the order, the White House says the president wants “clear guidance to landlords, federal benefits programs and federal contractors, to keep AI algorithms from being used to exacerbate discrimination.”
Politico got a look at a draft of the order and reported Friday that it directs the Consumer Financial Protection Bureau and Department of Housing and Urban Development to issue guidance on how fair-lending and housing laws will prevent discrimination by AI in digital ads for both housing and credit.
And it calls on the agencies to issue guidance on how using data in tenant screening systems can lead to discrimination, Politico wrote.
More broadly, the order requires industry to develop safety and security standards and introduces new consumer protections.