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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

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

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