Last week, the House Financial Services Committee established two task forces, one on financial technology and the other on artificial intelligence. Both task forces were established pursuant to resolutions adopted by unanimous consent.
The “Task Force on Financial Technology” will examine the current legal framework for fintech, how fintech is used in lending, and how consumers engage with fintech. Its Chair will be Rep. Stephen Lynch (D-MA).
The “Task Force on Artificial Intelligence” will examine the impact of automation and machine learning and how companies and consumers can use AI to improve their lives. Its Chair will be Rep. Bill Foster (D-IL).