The Verge: “President Donald Trump kicked off the first day of his presidency by signing a flurry of executive actions, including halting enforcement of the TikTok ban and rolling back the Biden administration’s artificial intelligence order. Having already run the country once before, Trump entered the presidency with the goal of hitting the ground running,… Continue Reading
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Category Archives: Financial System
Executive Order 14192 – for each new regulation issued, at least 10 prior regulations be identified for elimination
EXECUTIVE ORDER 14192 – UNLEASHING PROSPERITY THROUGH DEREGULATION February 6, 2025 – By the authority vested in me as President by the Constitution and the laws of the United States of America, including the Budget and Accounting Act of 1921, as amended (31 U.S.C. 1101 et seq.), and in order to promote prudent financial management… Continue Reading
Data Governance in Open Source AI: Enabling Responsible and Systemic Access
“As the Open Source Initiative convened its process to define Open Source AI, it became clear that organizations that care for open, fair and public-interest AI need to pay particular attention to and establish a shared position on data sharing and data governance. Open Source Artificial Intelligence (AI) development presents an opportunity to democratize technological… Continue Reading
The DOGE Has Arrived
Gibson Dunn – Client Alert | February 4, 2025 – “Ever since President Trump announced that he would create a Department of Government Efficiency (DOGE), clients have raised questions regarding how it would be established, what powers it would have, and how its work could affect their operations. Gibson Dunn previously addressed some of those… Continue Reading
Personal Discretion Over the Treasury’s Payments System Means the End of Democracy
Liberal Currents – Elizabeth Popp Berman: “On Friday night [January 31, 2025], Elon Musk’s team gained access to the Department of Treasury’s payments system, which processes the federal spending that makes up more than a fifth of the U.S. economy. Social Security, Medicare, agricultural supports, the National Parks—a large majority of government spending flows through… Continue Reading
What Is OpenAI’s Powerful New Deep Research Tool Capable Of?
LawSites: I Use It to Analyze the Legality of President Trump’s Pause of Federal Grants – “Over the weekend, OpenAI released Deep Research, an AI agent capable of completing multi-step research tasks and synthesizing large amounts of online information. OpenAI’s chief product officer Kevin Weil said it can complete complex research tasks in minutes that… Continue Reading
CFPB halts work after Trump appoints Bessent as acting head
Washington Post [unpaywalled]: “The Consumer Financial Protection Bureau halted much of its work to investigate and penalize corporate wrongdoing Monday, after Treasury Secretary Scott Bessent — tapped to lead the watchdog on an acting basis — ordered an agency-wide review to “promote consistency” with the new Trump administration. Shortly after assuming the post, Bessent and… Continue Reading
Data brokers can keep selling your social security number, says new CFPB chief
The Verge: “Treasure Secretary Scott Bessent has been named the Acting Director of the Consumer Financial Protection Bureau (CFPB), the bureau announced today. Bessent quickly instructed the agency to “to stop all rulemaking, communications, litigation, and other activities,” reports Bloomberg Law. A source inside the CFPB told Bloomberg Law that his order “appeared to shut… Continue Reading
Fast fires
Reuters Graphics: “Fires are growing faster in the western United States. The fastest of them – termed “fast fires” – often erupt near towns and account for most structural wildfire damage according to researchers who analyzed over 60,000 fires from 2001 to 2020. Fast fires grow about 4,000 acres or more on their fastest day,… Continue Reading
Mapped: The Top Import Partner of Every U.S. State
Visual Capitalist: “The Trump administration is imposing a 25% tariff on imports from Mexico [this is on hold for one month – maybe] and Canada, along with a 10% tariff on imports from China. The U.S. President says he wants strong action to halt the flow of the opioid fentanyl and its precursor chemicals into… Continue Reading
Musk vows to cancel grants after gaining access to US Treasury payment system
FT.com: “Musk appeared to confirm on Saturday that DOGE had access to the Treasury system, which disperses trillions of dollars each year Elon Musk has vowed to unilaterally cancel hundreds of millions of dollars’ worth of government grants after apparently gaining access to review the US Treasury’s vast payments system, a move that prompted the… Continue Reading
AI in Finance and Banking, January 31, 2025
Via LLRX – AI in Finance and Banking, January 31, 2025 – This semi-monthly column by Sabrina I. Pacifici highlights news, government documents, NGO/IGO papers, conferences, industry white papers and reports, academic papers and speeches, and central bank actions on the subject of AI’s fast paced impact on the banking and finance sectors. The chronological links… Continue Reading
