Artificial intelligence (“AI”) tools are expanding into every aspect of consumers’ daily lives. That proliferation has the potential to dramatically increase bank liability under the Electronic Funds Transfer Act (“EFTA”) and Regulation E.
The consulting firm McKinsey & Company recently reviewed the potential for “agentic” AI to conduct consumer transactions. An “agentic” AI model is…
Even before the next administration is sworn in, FDIC Vice Chairman Travis Hill is already signaling that changes are coming to the FDIC’s approach to regulating banks. The text of Vice Chair Hill’s speech is worth reading in its entirety, but there are several key takeaways:
Form over Substance
Many bankers have been frustrated during…
Challenges persist in the banking world, from an uncertain economy highlighted by rising inflation and climbing interest rates. These challenges are also an opportunity to test uncharted waters by taking advantage of new technology and ways of doing business. It’s also more urgent than ever that banks find ways to meet needs efficiently and in ways…
