US regulators are seeking info on AI in banking, and that could be good news for banks

– “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.”

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