March 14, 2025

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CFPB Outlines Strict Approach to AI Use in Financial Services

  • August 13, 2024

The Consumer Financial Protection Bureau (CFPB) has staked out a clear position on using artificial intelligence (AI) in financial services: There are no exceptions to existing consumer protection laws for new technologies. In am Aug. 12 comment letter to Treasury Secretary Janet Yellen, the CFPB outlined its approach to regulating AI and other emerging technologies

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Crypto

Fed Action Against Customers Bank Points to Crypto Challenges

  • August 12, 2024

Despite the decentralized nature of cryptocurrencies and other digital assets, Web3 businesses need banking partners. But on Thursday (Aug. 8), news broke that Pennsylvania-based Customers Bank, one of the only crypto-friendly banks in the U.S., was served with a 13-page regulatory enforcement action by the Federal Reserve related to its digital asset and dollar token

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