Recognizing the benefits and increasing use of artificial intelligence and machine learning capabilities in financial services, the federal banking agencies are seeking feedback from financial institutions on how they are using these capabilities to provide banking services to consumers or for other business or operational purposes.
Regulators are largely embracing AI advancements.
Building a robust fair lending program and demonstrating compliance is not easy, but merely avoiding unlawful credit discrimination doesn’t need to be the ultimate goal. Here are ways for compliance professionals to promote equity and financial inclusion.
DXPs provide a proven path to consistent, relevant messaging to consumers that also positively impacts the bottom line.
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.”
In response to feedback from banks and fintech providers, the Federal Reserve, working with other financial regulatory agencies, is developing a fintech vendor due diligence guide for community banks, that would provide specific information about the documents and information they need to successfully complete their due diligence obligations, Federal Reserve Governor Michelle Bowman said in a speech today.
It’s vital to verify data across sources to create a comprehensive 360-degree view of specific businesses.
Four ways for banks to integrate emerging financial crimes technology.
As corporate treasurers pivot in response to the coronavirus pandemic, nearly half of them on net are planning to diversify their debt and capital structures, according to a new survey released today from TD Bank and Strategic Treasurer.
Consolidation over the last several decades has led to disparate sources of raw data locked up in legacy systems and proprietary formats.