CFPB Outlines Strict AI Approach

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The Rundown

• CFPB Outlines Strict Approach to AI Regulation

• AllianceBernstein, PGIM on AI in Fixed Income

• Acuity Aims to Use AI to Speed Up Bank Loans

• Goldman Sachs CIO on How the Bank Is Actually Using AI

• Tracking Portfolio Moves via FinChat

• JPMorgan Expects AI to be as ubiquitous as Zoom

• Quick Links

REGULATION CFPB Outlines Strict AI Regulation on Wall Street

The CFPB is advocating for strict AI oversight in financial services, pushing back on regulatory sandboxes and emphasizing compliance with existing consumer protection laws, according to an August 12 comment letter to Treasury Secretary Janet Yellen.

Responding to the Treasury's request for information on AI in finance announced in June, the Consumer Financial Protection Bureau outlined its approach to regulating AI, s…