WASHINGTON, D.C. —Today, the House Financial Services Committee selected Congressmen French Hill (AR-02) to serve as the Ranking Member of the newly formed Task Force on Financial Technology (FinTech), and the Task Force on Artificial Intelligence (AI).
“The landscape for financial services has changed substantially over the past decade,” said Congressman Hill. “I look forward to working on the Task Forces to foster innovation for both disruptive innovators and incumbent financial players. The ultimate beneficiary is the American consumer. I’m proud to work with my colleagues on the Financial Services Committee to encourage technology innovation with an eye toward better consumer experiences, more effective regulation, and lower cost of compliance.”
Watch Congressman Hill’s remarks on the FinTech and AI Task Forces HERE or by clicking on the image below.
Background:
Congressman Stephen Lynch (D-MA) will serve as Chairman of the Task Force on Financial Technology and Congressman Bill Foster (D-IL) will serve as Chairman of the Task Force on Artificial Intelligence.
The Task Force on Financial Technology will examine issues including:
Regulating FinTech: Domestic and International Perspectives
FinTech Lending and New Inputs: Utilizing Alternative Data for Loan Underwriting and Modifications
FinTech and Consumers: Assessing the Infrastructure and Legal and Regulatory Framework for Efficient Payments
FinTech and Big Data: Reviewing Challenges to Data Privacy
The Task Force on Artificial Intelligence will examine issues including:
Applications of machine learning in financial services and regulation
Algorithms and Big Data: emerging risk management perspectives
AI, Digital Identification Technologies and Combating Fraud
Automation and its impact on jobs in financial services and the overall economy
