There is a new cooperative effort between the European Commission and the United States Consumer Financial Protection Bureau to address how the digitalization of the financial services sector may be impacting businesses and consumers.In a joint statement, Didier Reynders, Commissioner for Justice and Consumer Protection of the European Commission, and Rohit Chopra, Director of the United States Consumer Financial Protection Bureau (CFPB), said they'll be engaging in an informal dialogue to address the challenges and risks posed by the ongoing digital transformation within the financial services industry, as well as collaborate on AI policy for financial institutions
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