SITUATION
FirstBank faced significant challenges with CRA compliance, including evolving regulations, limited data, and unconscious bias in lending decisions, all while trying to avoid enforcement actions by the CFPB.
SOLUTION
By implementing PathFinder AI (previously AtlasCRA), FirstBank leveraged AI-driven insights and real-time data to address fair lending practices, improve access to financial products, and ensure CRA compliance.
IMPACT
FirstBank saw remarkable results, including a 91% increase in loan originations, a 116% increase in applications, and a 62% increase in pre-qualifications, all while improving their ability to serve LMI communities and avoid regulatory fines