In January, the Federal Trade Commission ("FTC") reported recommendations to businesses about the fair use of big data. The report, Big Data: A Tool for Inclusion or Exclusion? Understanding the Issues, highlights the ways in which businesses can use big data to provide benefits to underserved consumers. However, citing the Fair Credit Reporting Act, the FTC Act, and equal opportunity laws, the FTC also warned against using big data-derived biases or inaccuracies about certain groups to target consumers for unfair business practices like fraud or denial of credit opportunities.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
