News & Analysis as of

Artificial Intelligence Request For Information Financial Services Industry

Orrick, Herrington & Sutcliffe LLP

State AGs submit response to Treasury RFI on using AI in finance

On August 12, a coalition of 15 Republican State Attorneys General sent a letter addressed to the Secretary of the Treasury, Janet Yellen, in response to the the Treasury’s Request for Information (RFI) on the uses,...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Comments on AI Offer Insights for Consumer Finance Industry

On August 12, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) provided comments on the use of artificial intelligence (AI) in the financial services sector that are among its most extensive regarding risks and...more

Foodman CPAs & Advisors

RFI De IA Emitido Por El Tesoro De EE. UU.

El 6/6/24, el Tesoro de los Estados Unidos emitió una Solicitud de Información (“RFI – Request for Information”) para los usos, oportunidades y riesgos de la Inteligencia Artificial (IA) en el Sector de Servicios Financieros....more

Foodman CPAs & Advisors

AI RFI Issued By U.S. Treasury

On 6/6/24, the U.S. Treasury issued a Request for Information (RFI) for the uses, opportunities, and risks of Artificial Intelligence (AI) in the Financial Services Sector. The AI RFI presents nineteen questions that are...more

Hogan Lovells

U.S. Treasury Department seeks comment on AI opportunities and risks in the financial sector

Hogan Lovells on

The U.S. Department of the Treasury (Treasury) recently released a request for information (RFI) seeking comment on financial institutions’ use of artificial intelligence (AI) and the potential benefits and challenges AI may...more

Ballard Spahr LLP

Treasury Issues RFI on Use of AI in Financial Services

Ballard Spahr LLP on

After several years of monitoring and reporting on artificial intelligence (AI) in financial services, the U.S. Department of Treasury (Treasury) has embarked on initial rulemaking efforts and issued a request for information...more

WilmerHale

Treasury Issues Request for Information on Uses of AI

WilmerHale on

On June 6, 2024, the US Department of the Treasury (Treasury) issued a request for information (RFI) on the “uses, opportunities and risks of artificial intelligence (AI) in the financial services sector.” The RFI seeks...more

Ballard Spahr LLP

Treasury Issues Request for Information on Use of AI in Financial Services

Ballard Spahr LLP on

The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”).  Written comments are...more

Troutman Pepper

Treasury Department Issues Request for Information on the Use of AI in Financial Services

Troutman Pepper on

On June 6, the U.S. Department of the Treasury (Treasury) issued a request for information (RFI) seeking public input on the uses, opportunities, and risks presented by the use of artificial intelligence (AI) within the...more

Wiley Rein LLP

Wiley Consumer Protection Download (June 21, 2022)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Goodwin

OCC Reconsiders Controversial Revisions to CRA Rules

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) announced that it will reconsider its controversial June 2020 final rule revising its Community Reinvestment Act (CRA) rules, and published its Semiannual...more

Davis Wright Tremaine LLP

Federal Regulators' Artificial Intelligence Initiative Is a Promising Development for Financial Industry (Update)

Update: On May 17, 2021, the agencies extended the deadline for comments from June 1, 2021, to July 1, 2021. The text of this post has been updated accordingly....more

Nutter McClennen & Fish LLP

Fintech in Brief: Banking Agencies Request Information on the Use of Artificial Intelligence by Financial Institutions

On March 29, 2021, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency...more

Davis Wright Tremaine LLP

Federal Regulators' Artificial Intelligence Initiative Is a Promising Development for Financial Industry

The federal financial institutions regulatory agencies collectively issued a Request for Information and Comment (RFI) on March 31, 2021, to better understand how artificial intelligence (AI) and machine learning (ML) are...more

Manatt, Phelps & Phillips, LLP

CFPB’s Request for Information Sends Fair Lending Signals

On July 28, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) seeking industry input on the future of the Equal Credit Opportunity Act (ECOA) and Regulation B. While fair lending...more

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