Sen. Ruben Gallego, D-Ariz., wants the Financial Crimes Enforcement Network and other financial regulators to assess the effectiveness of AI in anti-money laundering investigations.

Financial regulatory agencies would house AI innovation labs to test projects without “burdensome regulation or expectation of enforcement actions” under the bipartisan, bicameral bill.

The watchdog said the credit union regulator needs better model risk management guidance and is pushing Congress again to expand the agency’s regulatory authorities.

Reps. Patrick McHenry and Maxine Waters introduce measures targeting the technology’s impact on housing and the financial sector.

An OCC official says the move reflects the evolving nature of threats and more robust guidance from NIST and CISA.

A bipartisan, bicameral bill would allow designated financial regulatory staffers to test the technology’s tools without the threat of such actions.

The House Financial Services Committee's leadership is pushing legislation to standardize data at eight agencies, paving the way for RegTech and AI apps.

For the fourth year in a row, Federal Deposit Insurance Corp. was named the “Best Place to Work in the Federal Government” among medium-sized agencies. The rankings…