News & Analysis as of

Department of Justice (DOJ) Artificial Intelligence Financial Services Industry

Faegre Drinker Biddle & Reath LLP

Artificial Intelligence Briefing: Responsible Innovation and Increasing Regulations

This month, the NYDFS issued guidance on cybersecurity risks tied to AI for financial services firms, focusing on risks like AI-enabled attacks and third-party dependencies; California passed a law regulating AI in health...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024

Troutman Pepper on

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...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 # 4

Troutman Pepper on

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...more

Troutman Pepper

2023 Year-In-Review: Key Enforcement Initiatives and Cases in Crypto, Cyber, SPACs, Whistleblowers, and the Future of...

Troutman Pepper on

It was a busy year for enforcement activity in the cyber, crypto, SPAC, and whistleblower spaces, with several pending actions that will likely have wide-ranging implications in 2024. We are also awaiting a ruling from the...more

Seyfarth Shaw LLP

Commercial Litigation Outlook - 2024

Seyfarth Shaw LLP on

By any measure, the world has changed vastly since we issued our first Commercial Litigation Outlook in 2020. We are now on our fourth installment of providing insights and flagging trends for what to expect in the coming...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Nondiscrimination and Military Protection Law

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2023 applicable to consumers protected by nondiscrimination and military protection laws....more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 4

Troutman Pepper on

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...more

Troutman Pepper

Biden Issues First Executive Order Directing Federal Agencies to Establish New Standards to Promote Safe and Secure Use of AI

Troutman Pepper on

On October 30, President Biden issued a sweeping Executive Order calling on Congress to enact privacy laws and directing federal agencies to review existing rules and potentially explore new rulemakings governing the use of...more

Fisher Phillips

White House Issues Sweeping AI Executive Order: 10 Things Employers Need to Know

Fisher Phillips on

The executive order on artificial intelligence issued by the White House yesterday is the federal government’s most ambitious attempt to date to corral this burgeoning technology – and contains numerous items of interest for...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 #2

Troutman Pepper on

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...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2023

Troutman Pepper on

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Troutman Pepper

CFPB’s 2022 Fair Lending Report Focuses on Bias in Mortgage Lending, Redlining, Home Appraisals, Small Business Lending, and Shows...

Troutman Pepper on

As shown by a new report, the Consumer Financial Protection Bureau (CFPB or Bureau) is focusing its fair lending work on mortgage origination and pricing, small business lending, redlining, and the use of artificial...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, V 4, Issue 1, June 2023

CFPB - Regulators Take Aim at AI to Protect Consumers and Workers - “In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more

Butler Snow LLP

What is the Message from Artificial Intelligence

Butler Snow LLP on

When announcing the much publicized $125 million fine against JP Morgan for violating recordkeeping rules, the U.S. Securities and Exchange Commission (“SEC”) Chair stated that financial institutions “did not act as if they...more

Ballard Spahr LLP

Federal Agencies Issue Joint Statement on Artificial Intelligence in the Workplace

Ballard Spahr LLP on

The United States Equal Employment Opportunity Commission (EEOC) and three other federal agencies issued a joint statement vowing to use existing laws to protect employees and the general public from discrimination and bias...more

Seyfarth Shaw LLP

Regulation of AI – the Path Ahead

Seyfarth Shaw LLP on

Last week, a joint statement was issued by four federal agencies expressing their apprehension regarding the use of AI for discriminatory or anticompetitive purposes and outlining their plans for regulation. This comes on the...more

McGuireWoods LLP

Government Agencies Join Forces Against Bias and Discrimination in AI

McGuireWoods LLP on

On April 25, 2023, four federal government agencies released a joint statement announcing their resolve against bias and discrimination in automated systems and artificial intelligence (AI). Together, the Consumer Financial...more

Manatt, Phelps & Phillips, LLP

AI Has Captured the Attention of the U.S. Public—and Federal Enforcers

Four federal agencies issued a unique Joint Statement this week on enforcement priorities related to “automated systems,” including artificial intelligence (AI). The short, three-page statement reiterated several actions or...more

Venable LLP

Feds Target AI Misuse in Financial Services

Venable LLP on

The Consumer Financial Protection Bureau (CFPB) issued a statement in collaboration with federal partners, including the Federal Trade Commission (FTC) and the Department of Justice (DOJ), emphasizing that advanced technology...more

DCI Consulting

Federal Agencies Make Statement on Discrimination & Bias in Automated Systems

DCI Consulting on

Federal leaders, including Equal Employment Opportunity Commission Chair Burrows, U.S. Department of Justice’s Civil Rights Division Assistant Attorney General Kristen Clarke, Consumer Financial Protection Bureau Director...more

Cooley LLP

CFPB, Federal Agencies Warn of Obligations to Avoid Algorithmic Discrimination

Cooley LLP on

On April 24, 2023, the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), Department of Justice (DOJ) and Equal Employment Opportunity Commission (EEOC) released a joint statement affirming that...more

Troutman Pepper

Federal Agencies Issue Joint Statement on Potential for Unlawful Bias and Discrimination in Automated Systems

Troutman Pepper on

On April 25, officials from the Federal Trade Commission (FTC), the Civil Rights Division of the U.S. Department of Justice (DOJ), the Consumer Financial Protection Bureau (CFPB), and the U.S. Equal Employment Opportunity...more

Ballard Spahr LLP

CFPB/FTC/DOJ/EEOC issue joint statement on enforcement efforts directed at discrimination and bias in automated systems; CFPB...

Ballard Spahr LLP on

The CFPB, FTC, Justice Department, and Equal Employment Opportunity Commission have issued a joint statement about enforcement efforts “to protect the public from bias in automated systems and artificial intelligence.” The...more

Ballard Spahr LLP

FTC issues annual ECOA report to CFPB (UPDATED)

Ballard Spahr LLP on

The FTC recently sent its annual letter to the CFPB reporting on the FTC’s activities related to the Equal Credit Opportunity Act (ECOA) and Regulation B.  The new letter reports on the FTC’s activities in 2022.  The Bureau...more

Eversheds Sutherland (US) LLP

US Cybersecurity and Data Privacy review and update: Looking back on our 2020 articles and planning ahead for 2021

It was a tumultuous year for privacy and cybersecurity, and further uncertainty is all but guaranteed. The key to navigating this volatility, as 2020 proved, is to develop and maintain a proactive, agile and holistic data...more

27 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide