An overview and detailed guide to AI Governance
September 28, 2024 Navigating the complexities of AI Governance: A Comprehensive Guide An overview a
Exploring the CFPB’s Stance on AI in Financial Services
In this episode of The Consumer Finance Podcast, Chris Willis delves into the Consumer Financial Protection Bureau’s (CFPB) recent response to the Treasury Department’s request for information on the use of artificial intelligence (AI) in financial services. Chris highlights key points from the CFPB’s communication, including their views on fraud models, fair lending testing standards,
U.S. Senator Rounds Introduces Legislation Aimed at Fostering AI Innovation in the Financial Services Industry
On August 27, U.S. Senator Mike Rounds (R-SD) introduced the “Unleashing AI Innovation in Financial Services Act” (S. 4951), a bill aimed at fostering artificial intelligence (AI) innovation within the financial services industry. According to his press release, this legislation is part of a broader set of five bipartisan AI bills that Senator Rounds
Navigating Emerging Privacy Issues in Financial Services
In this episode of The Consumer Finance Podcast, Chris Willis is joined by privacy Partner Kim Phan and Rami Haddad, deputy general counsel at PRA Group. This episode delves into a range of emerging privacy issues impacting the financial services industry. The discussion covers the evolving landscape of state privacy laws, the implications of the
White House Announces New Initiatives Targeting Consumer Experience
This week, the Biden-Harris Administration launched a comprehensive initiative aimed at addressing what it describes as everyday hassles that waste Americans’ time and money. This new government-wide effort, called “Time Is Money,” seeks to regulate various business practices that the administration claims add unnecessary burdens to consumers’ lives. The initiative includes actions from multiple federal
Troutman Pepper Weekly Consumer Financial Services Newsletter – July 25, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
BSA Filings and Their Utility to Law Enforcement: A Guest Blog
First in a Two-Part Series on the Utility of BSA Filings
Today we are very pleased to welcome guest blogger, Don Fort, who is the Director of Investigations at Kostelanetz LLP, and the past Chief of the Internal Revenue Service’s Criminal Investigation (CI) Division.
As Chief of IRS-CI from 2017 to 2020,
Treasury Department Issues Request for Information on the Use of AI in Financial Services
On June 6, the U.S. Department of the Treasury (Treasury) issued a request for information (RFI) seeking public input on the uses, opportunities, and risks presented by the use of artificial intelligence (AI) within the financial sector. Notably, the Treasury’s RFI comes three years after the issuance of a similar RFI by the federal banking
Troutman Pepper Weekly Consumer Financial Services Newsletter
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
HUD Issues Guidance on Applicability of the Fair Housing Act to Tenant Screening and Housing-Related Advertising That Relies Upon Algorithms and AI
On May 2, the U.S. Department of Housing and Urban Development (HUD) released two sets of guidance addressing the applicability of the Fair Housing Act (FHA) to two areas where, in the agency’s view, algorithmic processes and artificial intelligence (AI) pose particular concerns: tenant screening and advertising of housing opportunities through online platforms that use