With the presidential election this week, one fear has remained on the minds of voters regardless of their political stripe–that artificial intelligence will be misused to change the outcome of the race.
Adrianne Appel
Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government.
Email: adrianne.appel@complianceweek.com
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Posted inData Privacy
FCC teams up with CPPA to enforce privacy rules
In an effort to streamline the enforcement of California’s stringent privacy rules, the Federal Communications Commission has signed a memorandum of understanding (MOU) with the California Privacy Protection Agency.
Posted inTechnology
AI & Compliance Summit: Regs discuss artificial intelligence guardrails for financial services
Artificial intelligence is an exciting, new technology and it is well-regulated by old laws and rules already on the books, financial regulators said at Compliance Week’s AI & Compliance Summit at Boston University.
Posted inRegulatory Policy
CFPB will enforce Fair Credit Reporting Act on employee background reports, monitoring
Businesses need to follow the consumer protection rules of the Fair Credit Reporting Act when engaging in employee surveillance, which includes background reports about employees produced by third parties using artificial intelligence, the Consumer Financial Protection Bureau said in new guidance.
Posted inRegulatory Enforcement
Goldman and Apple pay $89M over alleged Apple Card consumer violations
Apple and Goldman Sachs have agreed to pay $89 million for alleged gross customer service failures related to Apple Card, the Consumer Financial Protection Bureau said.
Posted inFinancial Services
New CFPB data rights rule will modernize U.S. banking system, Chopra says
Banks, credit card companies and other financial mainstays will be required to comply with new data privacy and retail account portability regulations under a sweeping rule issued Tuesday by the Consumer Financial Protection Bureau.
Posted inRegulatory Enforcement
Precision Toxicology to pay $27 million to settle allegations of unnecessary drug testing
Precision Toxicology has agreed to pay $27 million to settle allegations first brought by whistleblowers in three cases, that the company billed the federal government for unnecessary drug tests and paid kickbacks to doctors, the Department of Justice (DOJ) said.
Posted inRegulatory Enforcement
Vietnamese business pays $860K for violating U.S. sanctions on North Korea
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control that its business with North Korea involved U.S. financial institutions.
Posted inTechnology
NYDFS expects banks, firms to cut risks posed by AI, according to new guidance
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence, and new guidance from the New York Department of Financial Services is aimed at helping firms do just that.
Posted inRegulatory Policy
FTC final ‘Click to Cancel’ Rule requires disclosure of material facts before enrollments
Tthe Federal Trade Commission, after years of public comments and changes, released a final “Click to Cancel” Rule, which requires a customer’s express consent before they can be charged and prohibits practices that make it difficult for a customer–whether a family or another business–to cancel.
