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Algorithms › Financial Services Industry › Banking Sector

Benesch

AI Reporter - May 2025

Benesch on

The use of AI in banking was a topic in April, as Bank of America revealed it will spend $4 billion on AI initiatives in the coming year. The bank cited AI’s usefulness in reducing IT support calls and the over 90% usage...more

Sheppard Mullin Richter & Hampton LLP

OCC’s Hood Emphasized AI Oversight and Inclusion in Financial Services

Sheppard Mullin Richter & Hampton LLP on

On April 29, Acting Comptroller of the Currency Rodney Hood delivered pre-recorded remarks at the National Fair Housing Alliance’s Responsible AI Symposium.  In his speech, Hood reiterated the OCC’s commitment to deploying AI...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 # 5

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Brownstein Hyatt Farber Schreck

Using Complex Algorithms Is Not a Legal Defense for Discrimination

Brownstein Hyatt Farber Schreck on

The Consumer Financial Protection Bureau recently warned companies that, under federal anti-discrimination laws, they still owe consumers an explanation of specific reasons for denying credit applications, even if they use...more

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