FDIC Willing to Go Solo on A.I. Bank Guidance, McWilliams Says (Correct)

Silicon Valley tech companies and banks have asked regulators for guidance on the use of artificial intelligence in everything from back-room operations to consumer-facing services and products.

Federal Deposit Insurance Corp. Chairman Jelena McWilliams said she’s heard their call and plans to move forward—even if the agency has to go it alone.

“I’m hoping we can do it on an interagency basis. If we can’t, I’m willing to take the risk of the FDIC being the outlier in this space,” McWilliams said at an Aug. 2 event in Washington hosted by the nonprofit Alliance for Financial Innovation in collaboration with ...