1. United States
2. Mo.
3. Letter

Block Wall Street’s Artificial Intelligence immunity scheme, including by supporting a filibuster of the CLARITY Act. 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. BLOCK Wall Street’s AI immunity scheme, including by supporting a filibuster of the CLARITY Act.