Consumer Watchdog Warns of Risks Posed by Bank Chatbots
The Consumer Financial Protection Bureau has issued a warning about AI chatbots used by banks, citing numerous complaints from customers who have failed to receive timely and straightforward answers to their questions. The agency warns that chatbots could provide inaccurate financial information, infringe on privacy and data, and diminish customer satisfaction. Banks are encouraged to monitor their chatbots and customers are encouraged to submit complaints to the CFPB.