Rohit Chopra, director of the Consumer Financial Protection Bureau, will address DC Fintech Week as the bureau finalizes a rule mandating financial firms to provide free access to personal financial data upon customer request. This regulation aims to enhance competition and facilitate easier account switching for consumers. While the American Bankers Association expressed concerns over data security, the Financial Technology Association welcomed the move as a means to boost innovation and consumer choice.
MoneyLion has launched a marketplace allowing consumers to easily search and apply for third-party financial products within its digital ecosystem, enhancing user experience and engagement. Meanwhile, the FDA emphasizes the need for continuous monitoring of AI tools in healthcare to ensure patient safety, as hospitals increasingly adopt AI assistants to streamline patient interactions and alleviate staff workloads. Microsoft is also advancing healthcare AI by releasing models to interpret medical scans, aiming to improve diagnostic accuracy and enhance patient care.
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