The American Financial Services Association welcomes the Trump Administration’s comprehensive national framework for artificial intelligence policy and applauds its commitment to harnessing AI’s transformative potential while protecting American consumers.
Consumer lenders are on the front lines of the battle against AI-enabled fraud. Scams targeting consumers and businesses through synthetic identities, deepfake impersonations, and AI-generated phishing schemes are growing in sophistication and scale. These threaten the financial wellbeing of millions of American families, and AFSA supports the Administration’s call on Congress to augment federal government authority to combat AI-enabled scams. We look forward to working with lawmakers and regulators to bring the tools of the financial services industry to bear on this urgent problem.
At the same time, responsible AI deployment is enabling consumer lenders to serve customers more effectively, expand access to credit, and to detect fraud before it harms consumers. A consistent, well-calibrated national policy framework, rather than a patchwork of conflicting state mandates, is essential to allowing these innovations to reach the Americans who need them most. AFSA endorses the Administration’s call to remove outdated regulatory barriers, accelerate AI deployment across industry sectors, and establish a unified federal approach that gives businesses and consumers alike the clarity and confidence to move forward.
We are also encouraged by the framework’s emphasis on workforce development. The consumer finance industry is investing in AI-ready talent and welcomes federal support for training programs that help American workers participate fully in an AI-powered economy.
AFSA looks forward to engaging with Congress and the Administration as this framework moves toward legislation, and to contributing the perspective of consumer lenders who interact with millions of Americans every day.
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“Industry Expertise” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact Dan … Read the rest
Women’s History Month | Ronda Cepeda
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AFSA is celebrating Women’s History Month by featuring outstanding female leaders in the consumer credit industry.
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