News Summary

• u.s. banking regulators are stepping up scrutiny of how lenders deploy artificial intelligence.
• They are pressing firms on everything from data access and governance controls to risks posed by third-party vendors.
• Regulators are not yet being ‌prescriptive but are seeking to better understand how banks are using the technology.
• For now, their approach is to keep a close watch, with the aim of deepening their understanding of how Banks are deploying the technology, sources say.
• The OCC, which regulates banks, did not respond to a request for comment, while the Fed declined to comment.