The framework provides state examiners with a tool to identify and understand AI at financial entities, assess associated risks and determine when deeper review may be needed.
Former CFPB officials said reform efforts are necessary, but that they should stabilize the bureau and create continuity in its mission, even when there are changes in leadership.
Lenders are pushing for changes to a Colorado rule that will create new obligations for developers and deployers of automated decision-making technology that materially influences consequential decisions.
Better Markets has alleged that a Federal Reserve board member interfered with the Basel III rulemaking process by secretly meeting with bank executives to influence their support for the proposals.
The trade group is concerned about a theory presented by plaintiffs that would make a directed institutional trustee liable for distribution and reserve decisions assigned by the governing instrument to others.