On May 26, 2022, the CFPB published its Circular 2022-03 (available here), which confirms the obligation of lenders to comply with ECOA and Reg B adverse action requirements, even if the credit decision is made using complex algorithms, artificial intelligence, or machine learning often found in ‘black box’ computer underwriting engines. No matter the underwriting method used, the legal requirement for notice in the event of adverse action is the same: lenders must provide applicants with an accurate statement of the specific, principal reasons for any adverse action determination. It is not a defense that the technology used to make the determination is too complicated or opaque for the lender to understand. The CFPB confirmed that the notice requirement is necessary to support the anti-discrimination purpose of ECOA.