S 3554
FAIRR Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The FAIRR Act aims to address the potential risks posed by artificial intelligence (AI) to the stability of the U.S. financial system. It directs the Financial Stability Oversight Council to coordinate with agencies, conduct research, and develop recommendations for mitigating threats like manipulated financial markets through AI-generated disinformation. The bill also increases penalties for securities law violations involving AI-manipulated media and establishes liability for those who deploy AI models involved in such violations, while also promoting regulation and supervision of financial organizations and service providers.
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