Waters Announces Committee Task Forces on Financial Technology and Artificial Intelligence
Lynch to Chair Financial Technology Task Force, Foster to Chair Artificial Intelligence Task Force
Washington, DC, May 9, 2019
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the creation of a Task Force on Financial Technology and a Task Force on Artificial Intelligence.
“As new technologies emerge and the financial services industry puts those technologies to use, Congress must make sure that responsible innovation is encouraged, and that regulators and the law are adapting to the changing landscape to best protect consumers, investors and small businesses,” said Chairwoman Waters. “The new task forces on financial technology and artificial intelligence, under the leadership of Congressman Lynch and Congressman Foster, respectively, will help Congress to stay on top of new developments in these areas so that we are well-positioned to make policy.”
Congressman Stephen Lynch (D-MA) will Chair the Task Force on Financial Technology and Congressman Bill Foster (D-IL) will Chair the Task Force on Artificial Intelligence.
“I am honored and grateful to be named Chair of the Task Force on Financial Technology and would like to thank Chairwoman Waters for her support,” said Congressman Lynch. “We are witnessing an exciting evolution in the financial services space, which will vastly improve the use and quality of services in lending, payments and money management. The lives of consumers are changing with user-friendly financial service apps but these emerging technologies come with vulnerabilities and the need to reevaluate our consumer protection standards. As we explore the future of financial services, this bipartisan task force will give us the opportunity to educate Congress on the opportunities and challenges posed by these technologies and what we can do to produce the best outcomes for consumers.”
Democratic Members of the Task Force on Financial Technology will include:
The Task Force on Financial Technology will examine issues including:
The Task Force on Artificial Intelligence will examine issues including: