– “A group of US banking regulators—including the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Consumer Financial Protection Bureau (CFPB), among others—has issued a statement that they’re seeking public input on the rising usage of AI by financial institutions (FIs), Reuters reports.
– US banking regulators, including the Fed and Federal Deposit Insurance Corporation, are seeking information on how banks use AI.
– This provides an opportunity for FIs and the government to set clear expectations as the tech gains prevalence.”