Today, the Biden-Harris Administration announced that the U.S. Department of Commerce, through the National Institute of Standards and Technology (NIST), will establish the U.S. Artificial Intelligence Safety Institute (USAISI) to lead the U.S. government’s efforts on AI safety and trust, particularly for evaluating the most advanced AI models. USAISI will support the responsibilities assigned to the Department of Commerce under the historic executive order that President Biden signed earlier this week.
You can’t have a successful business, no matter the business, if you don’t attract customers. When it comes to today’s world of evolving financial markets and fluctuating interest rates, consumers are becoming more discerning when choosing their financial institutions for credit products.
The seven-member committee provides critical feedback to the DFPI as it creates its debt collection licensing program. The committee also advises DFPI Commissioner Clothilde V. Hewlett on matters related to the debt collection business, including proposed fee schedules and other requirements.
The Consumer Financial Protection Bureau (CFPB) is proposing a rule to implement personal financial data rights under the Consumer Financial Protection Act of 2010 (CFPA). The proposed rule would require depository and nondepository entities to make available to consumers and authorized third parties certain data relating to consumers' transactions and accounts; establish obligations for third parties accessing a consumer's data, including important privacy protections for that data; provide basic standards for data access; and promote fair, open, and inclusive industry standards.
On October 19, the Fed and NYDFS announced an enforcement action against a New York-based bank for alleged violations of consumer identification rules and deficient third-party risk management practices.
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