rich 1.0 Action Network https://actionnetwork.org <link href='https://actionnetwork.org/css/style-embed-v3.css' rel='stylesheet' type='text/css' /><script src='https://actionnetwork.org/widgets/v6/letter/stop-wall-streets-ai-immunity-scheme?format=js&source=widget'></script><div id='can-letter-area-stop-wall-streets-ai-immunity-scheme' style='width: 100%'><!-- this div is the target for our HTML insertion --></div> Americans for Financial Reform https://actionnetwork.org/groups/afr-advocacy-fund-c4 https://can2-prod.s3.amazonaws.com/groups/default_facebook_images/000/014/858/original/AFR_Action_Network_Default_(1).png?1738796429 The CLARITY Act just got worse. Wall Street and its allies have slipped a sweeping AI regulatory sandbox into the crypto bill. The so-called “AI Innovation Labs” would allow regulated financial companies to seek waivers or modifications from the laws and regulations governing financial products, services, and activities that use artificial intelligence. This scheme reaches far beyond crypto. Banks, lenders, debt collectors, mortgage companies, credit bureaus, and other financial firms could seek exemptions while deploying AI systems that determine who receives credit, what borrowers pay, whether accounts are frozen, how debts are collected, and what financial information consumers receive. AI systems can amplify discrimination, automate abusive debt-collection practices, wrongly close bank accounts, provide misleading financial guidance, manipulate markets, expose personal information, and conceal risks inside financial institutions. Weakening oversight would leave consumers with fewer protections and little recourse when these experiments cause harm. Financial companies already use AI while complying with federal law. They do not need immunity to innovate. They want a regulatory carveout allowing them to increase profits while shifting the risks onto customers, communities, investors, and the economy. Nearly 80 civil rights, labor, consumer, community, and technology-accountability organizations are demanding that Congress reject this language and any legislation containing it. The Senate must block the AI sandbox provision and stop the CLARITY Act. Click “START WRITING” to tell your Senators to oppose this dangerous language and filibuster any version of the CLARITY Act that includes it. https://actionnetwork.org/letters/stop-wall-streets-ai-immunity-scheme