Waters Announces Committee Reauthorization of Task Forces on Financial Technology and Artificial Intelligence for 117th Congress
Lynch and Foster to Return as Chairs for Task Forces
Washington, DC, April 21, 2021
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced the reauthorization of the Financial Technology and Artificial Intelligence Task Forces.
“I am very pleased to announce that our Task Forces on Financial Technology and Artificial Intelligence will continue their work examining emerging technologies in the financial services and housing industry,” said Chairwoman Waters. “These Task Forces will investigate whether these technologies are serving the needs of consumers, investors, small businesses, and the American public, which is needed especially as we recover from the COVID-19 pandemic. I will reiterate that Congress must promote responsible innovation, as well as ensure that regulators are able to properly oversee this rapidly changing environment. The continuation of the Task Force on Financial Technology, led by Congressman Lynch, and the Task Force on Artificial Intelligence, led by Congressman Foster, will allow Congress to be aware of all cutting-edge developments in our space. Furthermore, the hearings and legislation from these Task Forces will make sure policy can keep up with the changes to our financial services, and do its part to make sure technology is not being used to discriminate or exacerbate existing biases under the guise of innovation.”
Congressman Stephen Lynch (D-MA) will once again chair the Task Force on Financial Technology and Congressman Bill Foster (D-IL) will once again chair the Task Force on Artificial Intelligence.
“I am grateful to have the opportunity to lead the Task Force on Financial Technology once again and I look forward to building on the bipartisan efforts conducted in the past two years,” said Congressman Lynch. “Throughout the COVID-19 pandemic, we have seen an increased reliance on fintech applications for lending, payments and money management and these technologies require our full attention to ensure consumer protections are up to par. This task force will continue to examine the opportunities and challenges posed by these technologies and offer insight into how Congress can help ensure Americans’ data and privacy is secure. I thank Chairwoman Waters for her steadfast support of this important body as we work to improve the use and quality of these fintech services.”
Democratic Members of the Task Force on Financial Technology will include: