DIFS Issues Bulletin to Address Use of Artificial Intelligence in the Financial Services Industry

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Consumer Hotline: 877-999-6442, Michigan.gov/DIFScomplaints

FOR IMMEDIATE RELEASE: January 14, 2026

(LANSING, MICH) The Michigan Department of Insurance and Financial Services (DIFS) has issued a new bulletin to provide guidance to financial services providers regulated by the Department to ensure that decisions or actions made or supported by Artificial Intelligence (AI) that may impact consumers comply with all applicable laws and regulations.

"Artificial Intelligence is changing the financial services industry, and financial services entities should ensure that the use of any AI systems complies with federal and state laws and regulations while prioritizing consumer protection," said DIFS Director Anita Fox. "This new bulletin outlines DIFS' expectations and identifies issues financial services providers should consider when using AI systems."

AI technology has led to the automation and simplification of many financial products and services upon which consumers depend. However, this technology can also present unique risks to consumers, including inaccuracies, unfair discrimination, data vulnerability, and lack of transparency in the internal decision-making process. This bulletin clarifies how existing laws and regulations apply to AI and outlines the Department's expectations for how the financial services industry develops and uses this technology.

DIFS is the state consumer protection agency that regulates the insurance and financial services industries, including banks, credit unions, mortgage companies, and other consumer financial services entities. For more information about financial services in Michigan, visit Michigan.gov/DIFS. Consumers who have questions or disputes that cannot be directly resolved with financial services entities can contact DIFS Monday through Friday 8 a.m. to 5 p.m. at 877-999-6442 or file a complaint online at Michigan.gov/DIFScomplaints.

The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit Michigan.gov/DIFS or follow the Department on Facebook, X, or LinkedIn.

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