SEC Chair Gensler Warns About Centralization of AI in Financial Sector

"This is a new tool for bad actors to do bad things to the American public."

By Maydeen Merino | February 15, 2024 at 08:18 AM

The financial sector's reliance on just one or two dominant artificial intelligence (AI) models could lead to the centralization of the technology and financial instability, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler warned on Tuesday.

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Maydeen Merino is a regulatory reporter, covering the DOJ, FTC, SEC and EPA. She can be reached at [email protected].

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Fed Lowers Interest Rates by a Quarter Point

By Amara Omeokwe | December 18, 2024

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By Catarina Saraiva | December 16, 2024

In his first term, Trump bashed the Fed for allowing higher interest rates in the U.S. vs. Europe to drive up the dollar and hurt exports. Next year will likely bring more of the same, as the U.S. economy remains considerably stronger, meaning rates here will likely fall more slowly than in the Eurozone.

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