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AI Regulations for Financial Services: CFTC and FDIC

Perficient

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.

FDIC 221
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CRE risk management: Navigating hazards and opportunities

Abrigo

Bankers should examine warning signs and shore up defenses for existing income-producing CRE loans as part of commercial property loan risk management. But understanding trends in their own portfolios and local markets can allow lenders to identify risk-appropriate CRE credits.

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Crafting an effective CECL Q factor framework for stronger risk management

Abrigo

For example, local economic conditions might weigh more heavily for a regional bank, while a national institution might focus on broader market trends. Documentation and support: Regulators expect transparency in the CECL Q factor process. Assign weights to Q factors: Not all Q factors will have equal importance.

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OCC fines City National $65 million over risk management shortcomings

American Banker

The Office of the Comptroller of the Currency fined City National Bank $65 million for a litany of risk management problems, including inadequate management of third-party risks and fraud risk management.

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Today’s Cyber Risk Management

Cisco

While operational risk is not a contributing factor in a pandemic, the COVID-19 pandemic’s impact on financial services’ digitization does correlate with a material rise in cyber risk. It also put an even greater emphasis on cyber risk management within institutions and financial regulatory agencies. Takes Partners.

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U.S. Regulations to Consider When Managing a Cryptocurrency Fund

Perficient

For those wanting to start their own cryptocurrency fund, it’s important to be well informed about cryptocurrency regulations. Regulatory cryptocurrency regulations are most fluid at the state level. State Regulations. Maintaining a service provider oversight program to address risks to service provider relationships.

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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. Risk Management. AI may be used to augment risk management and control practices. Cybersecurity.