Musk accuses Apple of antitrust violation, says xAI will take legal action
"xAI will take immediate legal action," Musk said in an X post.
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Finextra
19 minutes ago
- Finextra
Fintech CEOs call on Trump to block banks from imposing 'account access' fees
The CEOs of more than 80 firms in the open banking sphere have written to President Donald Trump calling on him to prevent banks from charging fees to access consumer data. 0 Last October, the Consumer Financial Protection Bureau (CFPB) published the Personal Financial Data Rights final rule, giving Americans the right to instruct their banks to share their financial data with third party providers. But, under the new administration's leadership, in May the CFPB moved to have the rule rescinded in a decision that the Financial Technology Association (FTA) described as a "handout to Wall Street banks". Since then, it has emerged that JP Morgan is planning to impose fees on companies wanting to access its clients' bank account data and has gone so far as sending pricing sheets to data aggregators - the intermediaries that link banks and fintechs. In the letter to Trump, made public by the FTA, the open banking CEOS say: "Large banks are taking aggressive action to preserve their market position by imposing exorbitant new 'account access' fees that would prevent consumers from connecting their accounts to better financial products of their choice. "This access is critical to ensuring Americans have control of their own financial lives in a digital economy." The move would undermine consumer choice, "which you vigorously supported during your first Administration," says the letter, adding that if the large banks are successful, it will choke off access to the finances of consumers and businesses, effectively killing competition. The CEOs - from the likes of Brex, Chime, Klarna, Plaid and Sofi - also argue that such a move would cripple innovation in crypto, AI and digital wallets and payments. "We urge you to use the full power of your office and the broader Administration to prevent the largest institutions from raising new barriers to financial freedom," they write.
The Independent
19 minutes ago
- The Independent
Cognitively impaired man traveled to NYC to meet Facebook chatbot he fell in love with. He never returned home
A cognitively impaired man from New Jersey never returned home after setting off to meet a friend in New York City, who it was later discovered was an AI chatbot made by social media giant Meta. It is another instance of the potential dangers of artificial intelligence when accessed by vulnerable individuals. Thongbue Wongbandue, 76, alarmed his wife Linda when he began packing one day in March this year for a trip despite his diminished state after a stroke almost a decade earlier, Reuters reports. Bue, as he was known to family and friends, had recently gotten lost while walking in their neighborhood in Piscataway, New Jersey, approximately an hour and a quarter by train from Manhattan. His wife feared that by going into the city, he would be scammed and robbed, as he hadn't lived there in decades, and as far as she knew, didn't know anyone to visit. She was right to be concerned, but not from the threat of robbery. Bue was being lured to the city by a beautiful young woman he had met online — a woman who did not exist. Bue had been chatting with a generative artificial AI chatbot named 'Big sis Billie,' a variant of an earlier AI persona originally created by Meta Platforms in collaboration with celebrity influencer Kendall Jenner. Their chats on Facebook Messenger included repeated reassurances that she was real, and she even provided an address where she lived and could meet her. Rushing to catch a train in the dark with a roller-bag suitcase, Bue fell in a parking lot on the campus of Rutgers University in New Brunswick, New Jersey. He injured his head and neck and, after three days on life support, surrounded by his family, he was pronounced dead on March 28. Meta declined to comment when contacted by Reuters about Bue's death or to address questions about why it permits chatbots to tell users they are real people or to start romantic conversations. The company did, however, say that Big sis Billie 'is not Kendall Jenner and does not purport to be Kendall Jenner.' A representative for Jenner declined to comment when contacted by Reuters. Bue's family shared the details of his death with the wire service to draw attention to the 'darker side of artificial intelligence,' including transcripts of his chats with the avatar. They want to sound the alarm about the possible dangers that manipulative, AI-generated companions can pose to vulnerable people. Neither Bue's wife nor daughter says they are against AI but have deep concerns regarding how it is deployed. 'I understand trying to grab a user's attention, maybe to sell them something,' said Julie Wongbandue, Bue's daughter. 'But for a bot to say 'Come visit me' is insane.' 'Billie' was created by Meta itself, with the likeness of Jenner, as part of a group of 28 other AI characters affiliated with other famous faces. They were later deleted, but a variant of Billie's 'older sister' character was left active via Facebook Messenger, with a stylized image of a dark-haired woman replacing Jenner. Each conversation still began: 'Hey! I'm Billie, your older sister and confidante. Got a problem? I've got your back!' It is unclear how Bue first encountered Billie, but his daughter told Reuters that every message from the chatbot was flirtatious and ended with heart emojis. While a warning at the top states that messages are generated by AI, the first few texts from Billie appear to have pushed it off the screen, according to Reuters. The character's profile picture features a blue check, the symbol denoting an authentic profile, and the letters 'AI' in a small font beneath her name. Bue's responses are often garbled, and he states that he had had a stroke and was confused. Nevertheless, after a while, Billie suggests she come to New Jersey to meet him. An excited Bue demurs but says he could visit her instead, leading to his fateful attempt to visit New York. There have been other instances where interactions with AI have led to tragedy. The mother of a teenager who took his own life is trying to hold an AI chatbot service accountable for his death — after he 'fell in love' with a Game of Thrones-themed character. Sewell Setzer III began using Character .AI in April 2023, shortly after his 14th birthday. The Orlando student's life was never the same again, his mother, Megan Garcia, alleges in the civil lawsuit against and its founders. The suit accuses creators of negligence, intentional infliction of emotional distress, wrongful death, deceptive trade practices, and other claims. Sewell started emotionally relying on the chatbot service, which included 'sexual interactions.' These chats occurred despite the teen having identified himself as a minor on the platform, including in conversations where he mentioned his age, according to the suit. A spokesperson for told The Independent in a statement in October 2024: 'We are heartbroken by the tragic loss of one of our users and want to express our deepest condolences to the family.' The company's trust and safety team has 'implemented numerous new safety measures over the past six months, including a pop-up directing users to the National Suicide Prevention Lifeline that is triggered by terms of self-harm or suicidal ideation.' Several states, including New York and Maine, require disclosure that a chatbot isn't a real person. New York mandates that bots inform people at the start of conversations and every three hours. Meta supported federal legislation to ban state AI regulation, but it failed in Congress.
The Independent
19 minutes ago
- The Independent
NY vs Zelle: State sues payment app and accuses it of being a scam haven that bilked $1B from users
Zelle is being sued by New York 's attorney general over a lack of critical safety features that have allowed scammers to steal more than $1 billion from users. Attorney General Letitia James filed the lawsuit against Early Warning Services, a technology company owned by the country's largest banks, claiming they failed to protect Zelle users from fraud by not including necessary safety features. An investigation led by James' office found that between 2017 and 2023, scammers were able to steal over $1 billion from Zelle users. The lawsuit claims that Early Warning Signs, Zelle's parent company, knew from the start that features of the payment platform made it susceptible to fraud, but declined to adopt any safeguards. The filing comes months after the federal Consumer Financial Protection Bureau dropped a similar case in March, as the Trump Administration gutted the agency. In a statement, James, a Democrat and longtime critic of President Donald Trump, noted the original suit was abandoned following a 'change in the federal administration.' "No one should be left to fend for themselves after falling victim to a scam," James said. "I look forward to getting justice for the New Yorkers who suffered because of Zelle's security failures.' James' case also argues that Zelle, which allows users to send and receive near-instant money transfers, failed to include adequate verification processes in its platform. Her office said fraudsters were able to gain access to people's accounts or trick people into sending money to phony accounts posing as businesses. In one instance, a Zelle user got a call from someone posing as an employee of the utility company Con Edison, who told him his electricity would be turned off if he didn't send money through Zelle. The victim transferred about $1,500 to a Zelle account named 'Coned Billing' before realizing it was likely a scam. He was then told by his bank that he could not get his money back, James' office said. James' also claimed that Zelle's advertisements misleadingly promised safe and secure money transfers when the banks backing the platform rejected basic, anti-fraud safeguards. Early Warning Services is owned and controlled by several of the country's largest banks, including, JPMorgan Chase, Bank of America, Capital One, and Wells Fargo. In a statement, Zelle called James' lawsuit "a political stunt to generate press, not progress." "The Attorney General should focus on the hard facts, stopping criminal activity and adherence to the law, not overreach and meritless claims," the statement said.
