Gensler Targets AI Conflict, Bias
In remarks today, SEC Chairman Gensler focused on one of his concerns with digital engagement: the ethical and sound use of artificial intelligence. Confining his comments to products germane to the Commission (i.e., robo-advice, wealth management, brokerage platforms, and other investor-focused technologies), Mr. Gensler reiterated that AI optimization cannot focus solely on a firm’s profits, but must also reflect investor risk tolerance and return considerations.
Targets Rural Banking Deserts, Farm Loans, Private Equity
The CFPB today added yet another issue to its target list: rural finance. Following roundtables similar to those for workers, the Bureau has identified three issues that warrant close attention.