United States:
Comment Deadline Set For Banking Agencies' Request For Information On AI Use
08 April 2021
Cadwalader, Wickersham & Taft LLP
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A Federal Reserve Board, CFPB, FDIC, National Credit Union
Administration and OCC request for information and comments on
financial institutions' use of artificial intelligence (AI) and
machine learning was published in the Federal Register.
Comments must be submitted by June 1, 2021.
As previously covered, the agencies are seeking
information on operational purposes, governance and cybersecurity,
risk management, credit decisions, and controls over AI. In
addition, the agencies are soliciting views on the use of AI in
financial services to determine whether additional clarifying
guidance is needed.
Primary Sources
- Federal Register: Request for Information and
Comment on Financial Institutions' Use of Artificial
Intelligence, Including Machine Learning
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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