AI in Financial Services: Fundamentals, Legal Landscape, the White House Action Plan, and Future Outlook

Artificial Intelligence (AI) is transforming the consumer financial services industry, offering innovative tools for efficiency and decision-making while raising complex legal and regulatory challenges. On July 23, 2025, the White House released “Winning the Race: America’s AI Action Plan,” a comprehensive federal blueprint with over 90 policy actions to accelerate AI innovation, bolster U.S. infrastructure, and assert leadership in global AI security and diplomacy. However, understanding AI’s broader implications requires a foundational grasp of the technology itself, its applications, and the evolving compliance framework.

For banks, consumer financial services companies, and their advisors, navigating this landscape is essential. Join us for a complimentary 90-minute webinar where leading legal, policy, and industry experts will provide a structured exploration, starting with AI basics and building toward strategic future considerations.

This webinar will cover:

• AI Fundamentals: What Exactly is Artificial Intelligence?
  Definitions, key concepts, and distinctions between narrow AI, general AI, and emerging technologies like machine learning and generative AI—and how laws and regulations are differing in their approaches.

• Major Federal and State Laws Impacting AI Compliance.
  AI-specific regulations, such as state-level AI governance laws in California, Colorado, and New York, and the EU AI Act; General laws that apply, including federal consumer protection statutes like the Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), and Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) under the Consumer Financial Protection Act; Privacy and data security frameworks, such as the Gramm-Leach-Bliley Act (GLBA), state data breach notification laws, and influences from global standards like GDPR; Employment-related laws, including Title VII for AI in hiring and workforce management.

• Deep Dive into the White House AI Action Plan.
  Key Pillars: Accelerating AI innovation and adoption; building and regulating American AI infrastructure (e.g., data centers and semiconductors); and U.S. leadership in AI diplomacy, security, and export controls; Implications for Financial Institutions: “Ideological neutrality” in procurement, impacts on AI-driven processes like credit and fraud prevention, and federal funding conditions that may influence state regulations; What It Covers and What It Leaves Out: Gaps in areas like comprehensive consumer protection, detailed privacy mandates, and specific liability frameworks for AI harms.

• The Future of AI in Financial Services.
  Emerging trends, including advancements in AI ethics, international harmonization, and potential for new federal legislation; Strategic preparations: Updating governance, risk management, and compliance programs to anticipate regulatory shifts and uncertainty in upcoming legal landscape; Opportunities and challenges ahead, such as intellectual property issues with AI-generated content, cross-border compliance for multinational operations, and evolving accountability standards. 

We will be joined by the following special guests:

• Dean W. Ball, Former Senior Advisor in the White House Office of Science and Technology Policy; Policy researcher and writer on law, economics, and emerging technologies 
• Charlie Bullock, Senior Research Fellow, Institute for Law & AI
• Kristian Stout, Director of Innovation Policy, International Center for Law & Economics