The Consumer Financial Protection Bureau ("CFPB") has published guidance on July 7, 2020 which highlights the potential use of Artificial Intelligence ("AI") in the delivery of financial services--particularly in credit underwriting models. In addition to providing an overview of the ways in which AI is being used by financial institutions, the publication addresses: (1) industry uncertainty about how AI fits into the existing regulatory framework, especially for credit underwriting; and (2) the tools that the CFPB has been using to promote innovation, facilitate compliance, and reduce regulatory uncertainty. As the publication notes, financial institutions are starting to deploy AI across a range of functions, including as virtual assistants that can fulfill customer requests, in models to detect fraud or other potential illegal activity, or as compliance monitoring tools. Credit underwriting is one specific area in which AI may have a profound impact. Credit underwriting models that are built upon AI have the potential to expand credit access by permitting lenders to evaluate creditworthiness of some of the millions of consumers who are "unscorable" using traditional underwriting systems.