Curious about how financial institutions, their service providers, and their federal regulators are using and overseeing machine learning and other AI tools? A new GAO report published on May 19th (the “Report”) provides a...more
5/28/2025
/ Artificial Intelligence ,
Banking Sector ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
GAO ,
Machine Learning ,
NCUA ,
OCC ,
Regulatory Oversight ,
Risk Management
The Consumer Financial Protection Bureau (CFPB) warned financial institutions this week about the risks of using AI-powered chatbots to communicate with consumers. The Bureau advised financial institutions to “consider the...more