A number of the world’s leading democracies (U.S. excluded) would like to take a closer look at artificial intelligence (AI), and it’s affect on privacy, security, human rights, crime and finance. The U.S. has not joined this movement, for they believe this regulation could likely hurt businesses and the development of AI technologies. However, six
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Act) established the Consumer Financial Protection Bureau (CFPB) and authorizes it to supervise certain consumer financial services companies and large depository institutions and their affiliates for consumer protection purposes. The CFPB has been charged with implementing and examination for compliance with Federal consumer finance law.
The CFPB also has extensive authorities to not only investigate violations of federal consumer protection laws but also implement broad enforcement relief.