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Former Philadelphia Fed president urges examiners to police AI model vendors under a 1962 law
Former Philadelphia Fed president wants examiners to use a 1962 law on AI vendors after the April 17 SR 11-7 rewrite excluded generative AI. The plan skips Congress but still asks for a new supervisory letter within 12 months, aimed at the few suppliers whose models many banks share.
Publishers:americanbanker.com
Reality
- Evidence45
- Adoption
- Insufficient
- Hype gap+10
- Incentives
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- Confidence40