14 Aug 2024
Treasury Calls for Input on AI in Financial Sector
The U.S. Treasury Department is seeking information on the uses, opportunities, and risks of continued artificial intelligence (AI) development in the financial services sector. The use of AI in financial services is quickly evolving. This article provides a summary of Treasury’s information request to understand how firms are using AI in providing products or services, risk management, capital markets, internal operations, customer service, regulatory compliance, and marketing.
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- State Law Comparison Tool—Financial Institution Regulation Topic provides federal/state-specific guidance and the ability to compare state laws for banking and non-banking financial institutions in the areas of licensing, capital requirements, AML/CFT guidelines, recordkeeping, supervision, and enforcement authority.
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