Survey: CEOs see AI as crucial to gain competitive edge
Two-thirds of banking and financial markets CEOs believe that the potential productivity gains from generative artificial intelligence outweigh the potential...
Cybersecurity
Treasury Department seeks comment on AI use in financial services
The Treasury Department has issued a request for information on the use of artificial intelligence in the financial services sector.
Report: Lack of regulatory harmonization hurting cybersecurity outcomes
A lack of harmonization in cybersecurity regulation harms outcomes while increasing compliance costs through additional administrative burdens, the White House...
CFPB establishes application process for open banking standard-setting bodies
The CFPB issued a partial final rule establishing the qualifications that organizations must meet to become recognized standards-setting bodies under...
ABA suggests further refinements to generative AI framework
A draft framework to help organizations incorporate trustworthiness considerations into the design and implementation of generative artificial intelligence is a...
FHA announces cybersecurity reporting requirement for approved lenders
The Federal Housing Administration issued a new policy requiring FHA-approved lenders to report a “significant cybersecurity incident” to the HUD...
ABA, associations: Data privacy bill would create conflicting requirements
A bill that would establish national data privacy standards does not include clear language for financial institutions to understand their...
SEC updates data breach standards for investment companies, advisers
The SEC adopted amendments to Regulation S-P to require brokers and dealers, investment companies and investment advisers registered with the...
Treasury Department launches cybersecurity initiative for financial services
The Treasury Department has launched a new public-private partnership to provide what it said is a more comprehensive approach to...
White House announces new policy guiding infrastructure protection
President Biden signed a national security memorandum launching what the White House characterized as a comprehensive effort to protect U.S....
