Press Releases

Rep. Barry Loudermilk (R-GA) issued the following statement after Rep. Patrick McHenry, Ranking Member of the House Financial Services Committee, appointed Rep. Loudermilk to be the Ranking Member on the committee’s Task Force on Artificial Intelligence:

“I appreciate Ranking Member McHenry for trusting me with this position. As the lead Republican on the task force, I hope to use my background in technology and information security to promote policies that encourage the integration of technology into the financial services industry and give consumers greater access to financial services. The exciting field of artificial intelligence has altered the economic landscape in America; and, in my role of leadership on this task force, I will be working to ensure that federal laws and regulations foster innovation, not stifle it.”

The Task Force on Artificial Intelligence examines the impacts of these new technologies and how businesses and consumers are adapting to the ever-changing technology landscape. Specifically, the task force reviews how automation and machine learning impact the financial services industry, how we can provide solutions to problems before they arise, and how we can mitigate any challenges with this technology. The task force also reviews the laws and regulations governing financial services companies’ use of artificial intelligence to ensure they foster innovation and protect consumers.

“Ranking Member Loudermilk has an impressive understanding of financial services, and is the right choice to take on the task force examining the rapidly evolving and advancing world of artificial intelligence,” said Ranking Member Patrick McHenry. “As Republicans continue to foster innovation and push for a greater understanding of new financial technologies, I look forward to the thoughtful leadership he will bring to this space.”