article thumbnail

Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the. Office of the Comptroller of the Currency (OCC).

article thumbnail

Disruptive technology will not kill banks

Jeff For Banks

Now the amount of money in US registered investment companies exceeds that in FDIC insured banks. Aside from the cyber security of it, let''s think of the implications from a corporate accounting system that wants to interact directly with the bank''s core. Was Vanguard a disruptor?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New York Proposes Cybersecurity Requirements for Banks

American Banker

The plan, the first of its kind in the nation, could have far-reaching effects on some of the nation's largest banks. Andrew Cuomo on Tuesday announced the proposal of a state regulation requiring banks to develop and maintain a cybersecurity program.

article thumbnail

Will a Cyberattack Cause the Next Big Bank Failure?

American Banker

Regulators need to start paying attention to "denial-of-system" attacks as one of the triggers that could bring down a systemically important institution.