View or download a PDF of the letter here.
AFR and 89 civil rights, consumer, community, tech accountability, and other organizations sent a letter opposing legislation that will expose consumers, investors, financial institutions, the financial system, and the economy to the substantial risks of unregulated artificial intelligence (AI) in the financial industry. The legislation provides a pathway for firms to deploy AI without complying with federal financial oversight, including an exemption from civil rights, fair lending, consumer and investor protection, or financial stability laws and regulations.