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Don’t delay EU AI rules, address risks unique to retail finance, NGO says

( July 16, 2025, 08:49 GMT | Official Statement) -- MLex Summary: Finance Watch, an NGO, is calling for action to protect EU consumers “in the age of AI-driven retail finance,” in a report published today. It lists three key policy recommendations: “designate AI systems used in the provision of all retail financial services as high-risk under the EU AI Act”; “introduce rules that address risks unique to financial services [that] cannot be adequately addressed in the AI Act”; and “introduce an EU-harmonized AI liability regime.” The European Commission is currently preparing guidelines on how to implement the bloc's AI rules for financial services.See press release below and attached report. ...

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