The Federal Reserve Bank of Philadelphia and the Supervisory Research and Policy Forum (SURF) held the Fifth Workshop on Credit Card Lending, Consumer Finance, and the AI Revolution on June 27–28.

This year’s workshop focused on important topics that are likely to shape the consumer finance industry over the next few years: 

  • consumer finance with a focus on credit card lending, financial innovations, open banking, payment networks, fintech competition, data privacy; and
  • the current and future implications of innovations and adoption of machine learning and artificial intelligence (ML/AI) in consumer finance.

As in prior years, a Regulatory Roundtable followed the workshop. The roundtable was only for members of regulatory agencies.

NOTE: SURF is an initiative of the Federal Reserve Bank of Philadelphia with the primary mission of fostering communication and collaboration across regulators, policymakers, and subject-matter experts in risk management, supervision, and regulation of financial institutions.

Agenda

Agenda and Bio Booklet

Watch the Recordings


View a playlist with all event sessions.

First Conference Module: Consumer Finance and Revolving Credit

Download Available Presentations

Frontiers of Research in Consumer Finance

  • To Pay or Autopay? Fintech Innovation and Credit Card Payments
    Jialan Wang, Associate Professor of Finance, Gies College of Business, University of Illinois Urbana-Champaign
  • Regulating Competing Payment Networks
    Lulu Wang, Assistant Professor of Finance, Kellogg School of Management, Northwestern University

Risks and Opportunities in Consumer Finance

  • Consumer Surveillance and Financial Fraud
    Devesh R. Raval, Deputy Director, Federal Trade Commission
  • Customer Data Access and Fintech Entry: Early Evidence from Open Banking
    Will Gornall, Associate Professor of Finance, Sauder School of Business, University of British Columbia

Panel: The Future of Consumer Finance

  • Presentation 1 – Fredes Montes, Senior Financial Sector Specialist, World Bank.
  • Presentation 2–Guilherme Themes Miguel Jose, Head of Division, Central Bank of Brazil.
  • Presentation 3 – Kenneth J. Benton, Principal Consumer Regulations Specialist, Federal Reserve Bank of Philadelphia.

Second Conference Module: Consumer Finance and Revolving Credit

Download Available Presentations

Innovations in ML/AI and Responsible Risk Management

  • A Primer on Large Language Models
    Chris Callison-Burch, Associate Professor of Computer and Information Science, University of Pennsylvania
  • Headlines from the National Institute of Standards and Technology Guidance for Managing Risks of AI and Generative AI
    Patrick Hall, Assistant Professor, George Washington University

The Future of AI and Responsible Data Use

  • Enabling the Responsible Use of Personal Data with Targeted Differential Privacy
    Nitin Kohli, Staff Scientist, UC Berkeley Center for Effective Global Action
  • Demystifying AI: An Overview of Recent Trends and Developments
    Nestor Maslej, Research Manager, Stanford Institute for Human-Centered Artificial Intelligence