“For decades, America’s banks have been leaders in the responsible and innovative use of artificial intelligence. Banks deploy AI applications in a mature governance framework and are examined for compliance in areas including model risk, third party risk, consumer protection, and safety and soundness.
“ABA looks forward to responding to the Treasury's RFI on AI, and we have previously provided substantial feedback to the National Institute of Standards and Technology as it makes updates to its AI Risk Management Framework. ABA has also worked in close collaboration with Treasury on AI issues, with a particular focus on mitigating cybersecurity and fraud risks to financial institutions and their customers. This collaboration will remain a priority for our industry going forward, as the nation's banks work with policymakers to responsibly harness AI's tremendous potential."
About the American Bankers Association
The American Bankers Association is the voice of the nation’s $23.9 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $18.8 trillion in deposits and extend $12.5 trillion in loans.
Press Contact
All inquiries from the press can be directed to one of our press contacts.
Hi-Res photos for use by the press.
Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.
Complimentary press registrations are available for select events.
Want to be added to our news release list? Sign up here.
Get ABA press releases via RSS.