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Technology

Acting Comptroller of the Currency Brian Brooks will focus on promoting “responsible innovation” in the banking sector and continuing OCC modernization, he said in a statement upon taking office from former Comptroller Joseph Otting.

Compliance and Risk Photo by Gertrūda Valasevičiūtė on Unsplash

AI, machine learning and alternative data are helping banks and nonbanks alike make faster decisions and expand access to credit. While fair lending concerns about “black boxes” have impeded wider adoption of these technologies, the regulatory environment is shifting.

Cybersecurity

With many banks moving some or all employees to remote work arrangements and accessing more cloud-based technologies, the Federal Financial Institutions Examination Council released a statement on risk management principles for cloud computing security.

Technology

As part of ABA’s ongoing work to strengthen the relationship between banks and their core providers so banks can deliver the innovative products and services customers want and need, 21 core providers have signed onto the Principles for Strong Bank-Core Provider Relationships developed by the Core Platforms Committee.

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