Agencies ask financial institutions for details on artificial intelligence use to guide consumer protection work

The use of artificial intelligence and machine learning to provide services at financial institutions is a growing matter of interest for oversight agencies, which in a recent Federal Register notice sought feedback on how such technologies impact the consumer experience and potential cybersecurity implications.

“The purpose of this request for information (RFI) is to understand respondents' views on the use of AI by financial institutions in their provision of services to customers and for other business or operational purposes; appropriate...