This week the chairwoman of the House Financial Services Committee, Maxine Waters, announced the creation of a Task Force on Financial Technology and a Task Force on Artificial Intelligence; the Task Force on Fintech will examine existing domestic and international fintech regulation, using alternative data in underwriting, the regulatory framework for efficient payments, big data and data privacy; the Task Force on AI will examine the application of machine learning in financial services, algorithms and big data, digital identification technologies and combatting fraud as well as the impact of automation on jobs in financial services and the overall economy. Source.
