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CFPB wants to set rules for the use of AI by banks


CFPB wants to set rules for the use of AI by banks

The Consumer Financial Protection Bureau (CFPB) has taken a clear position on the use of artificial intelligence (AI) in financial services: there are no exceptions to existing consumer protection laws for new technologies. In an August 12 comment letter to Treasury Secretary Janet Yellen, the CFPB outlined its approach to regulating AI and other new […]