Finnish DPA Orders Company To Modify Automated Creditworthiness Assessment, Improve Disclosures

The Finnish Data Protection Authority has ordered a company to modify its automated practices for assessing creditworthiness. The authority held that the Credit Decision Service in the company’s online environment is an automatic decision-making procedure under Article 22 GDPR. The company was ordered, within 30 days to: amend its disclosure information so that the borrower could understand the reasons for the decision. provide individuals with information on the logic behind the decision-making process, its relevance to the credit decision and its consequences for the borrower. Details from the Finnish Data Protection Authority.

Read more detail on Recent Business Law posts –

This entry was posted in Business law and tagged , , , , , , , , . Bookmark the permalink.

Leave a Reply