Letters to Congress: Letter to HFSC Opposing the Unleashing AI Innovation in Financial Services Act

A coalition of 64 civil rights, consumer, labor, technology, and other advocacy groups delivered a letter to the House Financial Services Committee (HFSC) opposing the Unleashing AI Innovation in Financial Services Act (H.R. 4801). The legislation would allow financial firms that use AI to request waivers from civil rights, consumer, and investor protection laws, exposing consumers, investors, workers saving for retirement, the financial industry, and the economy to substantial risks with very little if any regulatory safeguards or accountability.