U.S. State AI Legislation Tracker – Financial Industry

With artificial intelligence embedded in financial services and consumer lending, regulators and lawmakers at the federal and state levels are intensifying their focus on AI use. Across the country, states are proposing — and enacting — new laws to govern AI, machine learning and algorithmic decision-making systems to promote fairness, transparency and accountability. These emerging frameworks introduce additional compliance obligations and procedural requirements for financial institutions that deploy AI technologies.

McGuireWoods monitors these legislative and regulatory developments, tracking the status of each state’s relevant measures in the map and chart below. The firm also provides insight into evolving federal oversight and state-level compliance expectations tied to the use of AI in financial transactions.

McGuireWoods’ financial services litigation and securities enforcement and regulatory counseling teams guide clients through this shifting landscape. Leveraging deep experience in complex litigation, enforcement and regulatory matters, the firm provides strategic counsel to help organizations manage risk, maintain compliance and address high-stakes disputes arising from the use of AI and algorithmic systems in the financial sector.

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