Commentary by Steven Lofchie
The White House announced that federal agencies completed their ninety day directives set out in President Joseph R. Biden's "Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence."
New York Attorney General Letitia James sued a bank for failing to (i) protect victims of electronic fraud and (ii) reimburse their losses.
The OCC proposed amendments to its rules, and a related policy statement, governing mergers involving (i) national banks, (ii) federal savings associations and (iii) federal branches and agencies of foreign banks.
The CFPB highlighted enforcement actions taken in 2023 and communicated its intent to increase its enforcement activity in 2024.
The Government Accountability Office detailed "Planned Artificial Intelligence Use Cases" for leveraging new technology across federal agencies.