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    US Congress Launches Taskforces on Fintech and Artificial Intelligence

    May 09, 2019

    The U.S. House Committee on Financial Services announced task forces on financial technology (fintech) and artificial intelligence. According to the Committee Chairperson, Maxine Waters, “The new task forces on financial technology and artificial intelligence, under the leadership of Congressman Lynch and Congressman Foster, respectively, will help Congress to stay on top of new developments in these areas so that we are well-positioned to make policy.”

    The Task Force on Financial Technology will be chaired by Congressman Stephen Lynch and will examine issues including:

    • Regulating Fintech: Domestic and international perspectives
    • Fintech Lending and New Inputs: Utilizing alternative data for loan underwriting and modifications
    • Fintech and Consumers: Assessing the infrastructure and legal and regulatory framework for efficient payments
    • Fintech and Big Data: Reviewing challenges to data privacy

    The Task Force on Artificial Intelligence will be chaired by Congressman Bill Foster will examine issues including:

    • Applications of machine learning in financial services and regulation 
    • Emerging risk management perspectives related to algorithms and Big Data 
    • Artificial intelligence, digital identification technologies, and combating fraud
    • Automation and its impact on jobs in financial services and the overall economy

     

    Related Link: Press Release

     

    Keywords: Americas, US, Banking, Insurance, Securities, Fintech, Regtech, Big Data, Artificial Intelligence, Taskforce, U.S. House Committee in Financial Services

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