On Tuesday, the US Consumer Financial Protection Bureau (CFPB) released a new issue spotlight on the expansive adoption and use of chatbots by financial institutions. The CFPB said it has received numerous complaints from frustrated customers trying to receive timely, straightforward answers from their financial institutions or raise a concern
CFPB issues new spotlight on AI chatbots in banking
The CFPB’s Rohit Chopra said “a poorly deployed chatbot can lead to customer frustration, reduced trust, and even violations of the law.”