Source: Goodwin Law

This Goodwin Law article reviews the rapidly evolving regulatory landscape governing AI use in the financial services sector. It highlights recent legislative and regulatory developments in the US aimed at ensuring transparency, risk mitigation, and ethical AI practices.

The article advises financial institutions and FinTech companies to develop comprehensive AI compliance programs to manage legal and operational risks. It emphasizes the importance of monitoring regulatory changes and integrating governance frameworks that align with evolving standards.

The piece also discusses challenges posed by AI innovation and the need for balanced policies that promote technological progress while protecting consumers and markets.