Browsing: Compliance and Risk

Compliance and Risk

In remarks at a virtual event hosted by the Federal Reserve today, Fed Governor Lael Brainard said that the federal banking agencies are in the process of drafting request for information on the risk management of artificial intelligence applications in financial services as they consider “whether additional supervisory clarity is needed to facilitate responsible adoption of AI.”

Commercial Lending

Community financial institutions will be able to submit loan applications for the Small Business Administration’s Paycheck Protection Program for at least two days before other lenders, SBA said late last night as it released interim final rules covering the pending relaunch of the PPP.

Compliance and Risk

The American Bankers Association yesterday called for the withdrawal of a controversial OCC proposal stating that banks should provide access to services, capital and credit based on their risk assessment of individual customers and not make broad-based decisions that affect whole categories or classes of customers.

Compliance and Risk

The OCC today proposed changes to its current rules on national bank or federal savings association ownership of real property. The proposal will provide a set of general standards—including an occupancy test and excess capacity standards—that the OCC will use for determining whether the acquisition and holding of real estate Is necessary for the transaction of an institution’s business.

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