Senate Banking Committee Holds Hearing on AI in Financial Services
Summary
On September 20, 2023, the Senate Banking Committee held a hearing to examine AI in financial services. During the hearing, Chair Sherrod Brown (D-OH) outlined the need to examine what actions Congress and regulators should take to protect peoples' right to privacy. Witnesses called for a holistic look at federal data privacy rules writ large but specifically outlined the need to reexamine the Gramm-Leach-Bliley Act, including what the law does not cover, such as small businesses.
Impacted Sectors
Additional Information
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