When a chatbot provides incorrect guidance or misleads a borrower about their dispute rights, regulators treat it as a ...

If you’ve used your bank’s chatbot feature, you’ve probably entered into the conversation with mixed expectations. When at its best, the chatbot quickly answers your question or performs a task, ...

A report by the Consumer Financial Protection Bureau highlights how AI-powered chatbots, if poorly deployed, can harm consumers of financial services. The Consumer Financial Protection Bureau, a ...

On June 6, 2023, the Consumer Financial Protection Bureau (CFPB) issued a Spotlight on financial institutions’ growing use of “chatbots” as a means to provide cost-effective customer service. The use ...

Humans might have a powerful tool for defeating the artificial intelligence bots: frustration. A report from the Consumer Financial Protection Bureau this week finds that almost everyone who interacts ...

NEW YORK -- Can you trust Erica, or Sandi or Amy to increasingly control parts of your financial life without giving you inaccurate information or sending money to the wrong place? That's what the ...

If you bank online, you may have used a chatbot to resolve a conflict or find an answer to a question. The top 10 largest commercial banks all use chatbots as part of their customer service repertoire ...

The bank's AI-based virtual assistant, which began development 10 years ago, is now used by 42 million customers and more than 200,000 employees. It does everything from sending wire transfers to ...