AI’s Impact on Finance Spurs Bipartisan House Working Group

House lawmakers announced a new bipartisan working group to study the impact of artificial intelligence on financial services and housing.

The House Financial Services Committee’s bipartisan Working Group on Artificial Intelligence plans to study how AI will affect the development of new products and services. The working group will also study fraud prevention tools and how AI can improve compliance at financial institutions, as well as the potential effects on workers in the industry.

The working group continues lawmakers and regulators’ focus on the legal, privacy, and other challenges AI poses to industries across the globe. Federal banking regulators have ...