Argentine Lawmakers Demand Investigation into AI-Driven Credit Practices by Digital Wallets

Argentine lawmakers want a look at how Mercado Pago and Uala price credit by algorithm. The wallets get to explain the math.

Argentine lawmakers have requested a formal investigation into digital wallet providers, including Mercado Pago and Ualá, over concerns that their AI-based credit algorithms may enable anticompetitive practices, excessive interest rates, and potential consumer harm. The probe seeks to assess algorithmic transparency and compliance with competition and consumer protection laws.

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