EU AI Act Compliance for Credit Scoring and Lending
Industry: Finance & Accounting Audience: CRO / General Counsel Date: July 2025 Author: Miklos Roth
Direct Answer
The EU AI Act classifies credit scoring systems as high-risk AI. Starting August 2026, enforcement begins with fines up to 7% of global annual revenue. The Act mandates explainability, human oversight, bias testing, and conformity assessments—requirements that most lenders' black-box AI models cannot currently meet. You ...
