New tool released to help state bank examiners assess AI risks
Financial institutions can also use the CSBS framework to assess their own AI programs, establish sound AI governance and risk...
Technology
How will banks reinvest the time AI saves?
The bank may become more efficient, but not necessarily more strategic. The capacity dividend becomes valuable only when it is...
ABA, banking groups warn revised Clarity Act fails to protect community banks
Proposed language in the Clarity Act giving regulators a short time frame to decide whether to close the stablecoin payment-of-interest...
State AGs urge FCC to impose stronger ‘know your upstream provider’ requirements
Forty-nine state attorneys general last week urged the Federal Communications Commission to impose stronger “know your upstream provider” requirements to keep...
Banks’ wealth units pursue AI — carefully
'Some of the best ideas have come from junior employees doing the analytical work who often understand the technology better.'
Banking agencies pledge more scrutiny of core provider business practices
The federal banking agencies pledged to step up oversight of third-party core providers whose business practices “unreasonably limit” community banks...
FCC releases draft order to protect fraud alerts
The Federal Communications Commission released a draft order that would rewrite the agency’s “revoke all” rule – an action that...
Hill: FDIC on track to issue stablecoin rulemaking by year’s end
The FDIC plans to issue a final rulemaking before the end of the year to establish an application process and...
FinCEN, banking agencies release FAQs on digital credentials, customer ID
Financial institutions may use a mobile driver’s license or other government-issued virtual ID as a form of documentary verification for...
FCC proposes ‘robocall scorecard’ to rate voice service providers
The FCC is seeking public comment on creating a “robocall scorecard” to measure how voice service providers are protecting consumers...
