(May 17, 2021) – Five federal financial regulatory agencies announced today they will extend the comment period on the request for information on financial institutions’ use of artificial intelligence (AI) until July 1, 2021.
The agencies are seeking information from the public on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations. More specifically, the RFI seeks comments to better understand the use of AI, including machine learning, by financial institutions; appropriate governance, risk management, and controls over AI; and challenges in developing, adopting, and managing AI.
The agencies extended the comment period to allow stakeholders more time to coordinate and prepare their comments, which were originally due by June 1, 2021.
Attachments
Request for Information (opens new window)
Agency | Contact | Phone |
---|---|---|
FDIC | Julianne Breitbeil | 202.898.6895 |
CFPB | Michael Robinson | 202.435.7170 |
Federal Reserve | Chelcee Stearns | 202.452.2955 |
NCUA | Joseph Adamoli | 703.518.6330 |
OCC | Stephanie Collins | 202.649.6870 |
Federal bank regulatory agencies today released a guide to support community banks in managing risks…
WASHINGTON – From May 6th to May 9th, Under Secretary of the Treasury for Terrorism…
As Prepared for DeliveryI. IntroductionGood afternoon. Thank you to the McCain Institute for the invitation…
WASHINGTON – Today the U.S. Department of the Treasury and Internal Revenue Service (IRS) released…
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)…
WASHINGTON – Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) outlined…