Introduction Artificial intelligence (AI) promises to dramatically transform the financial services sector, and is being increasingly…
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Executive Order on artificial intelligence includes actions impacting consumer financial service providers
On October 29, the Biden Administration issued a broad Executive Order (Order) on artificial intelligence (AI). …
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CFPB Issues Guidance on Credit Denials by Lenders Using Artificial Intelligence
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued guidance about certain legal requirements…
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Artificial intelligence chatbots may pose risks for financial institutions, CFPB says
The Consumer Financial Protection Bureau (CFPB) warned financial institutions this week about the risks of using AI-powered chatbots…
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CFPB Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a new issue spotlight on…
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