Financial Regulators Request Feedback On AI And Machine Learning

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.

Explore Firm Details

United States Technology

The Federal Reserve Board, the CFPB, the FDIC, the National Credit Union Administration and the OCC (the "agencies") solicited comment on financial institution use of artificial intelligence ("AI") and machine learning. The agencies are seeking information on operational purposes, governance and cybersecurity, risk management, credit decisions, and controls over AI, as well as whether the agencies can provide guidance regarding a financial institution's use of AI in a safe and sound manner.

Comments on the request for information must be submitted within 60 days of its publication in the Federal Register.

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.