ABA announced today it has joined a Nashville-based financial technology accelerator as a founding partner.
The Securities and Exchange Commission proposed new rules to require broker-dealers and investment advisers to take certain steps to address conflicts of interest associated with using predictive data analytics, including artificial intelligence and similar technologies.
It may be time to start looking at branch locations as modern customer engagement centers, fully integrated with multiple connection channels offering consistent and seamless customer experiences.
Special-purpose credit programs build on data sharing to expand lending outreach.
Federal agencies should be held to the same standards as private companies when protecting consumer data and reporting cybersecurity incidents, ABA and two financial sector trade associations said in response to legislation that would upgrade the federal government’s cybersecurity procedures.
While artificial intelligence and machine learning have enormous potential, Federal Reserve Vice Chairman for Supervision Michael Barr cautioned that “they also carry risks of violating fair lending laws and perpetuating the very disparities they have the potential to address.”
A survey of 86 central banks found that most respondents are engaged in work concerning central bank digital currencies, and uncertainty is fading about their likelihood to issue CBDCs in the near future.
Full-population testing eliminates the potential for unknown compliance violations and empowers financial institutions to address issues quickly.
A practical guide to preparing for the Section 1071 small business lending data collection.