AI Agents in Banking: Who Is Responsible for Mistakes?
Western News Daily
WHAT AI AGENTS DO
AI agents can buy goods or transfer funds on a user's instructions, Digital Today reports.
THE CORE DISPUTE
Who pays when an agent errs or is defrauded: the consumer, the bank or the AI developer? Industry groups are proposing answers.
WHAT THE LAW SAYS
Former regulators say existing consumer-protection laws already apply. Federal regulators excluded agentic AI from revised model risk guidance in April.
No U.S. rule yet settles liability for AI-agent transactions