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US Treasury reports on AI in financial services after 103 comment letters

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Source: U.S. Department of the Treasury

The US Treasury published a report on the uses, opportunities and risks of AI in financial services on 19 December 2024. It follows a request for information issued on 12 June 2024 that drew 103 comment letters, and a March 2024 report on AI-specific cybersecurity risk in finance. It recommends consistent AI standards, closer coordination among financial regulators on supervisory expectations, more information sharing, and compliance reviews of AI use cases by firms before deployment.

Why it matters

US banks and fintechs got Treasury’s account of where federal agencies saw gaps in AI oversight and what it expected firms to check before deploying AI.

When
19 Dec 2024
ID
WTA-N-2024-0157
Who
U.S. Department of the Treasury; Nellie Liang

Summary by wheresthe.ai, from U.S. Department of the Treasury. Checked against the source on 9 Oct 2026.

Read the original at U.S. Department of the Treasury

Source copy: download the page as saved on 18 Oct 2026 (PDF). Also held by the Internet Archive.

Next stop on this Storyline: What happened nextUS Treasury releases AI lexicon and finance-specific AI risk framework

Cite this story

WTA-N-2024-0157: “US Treasury reports on AI in financial services after 103 comment letters.” wheresthe.ai, 19 Dec 2024. https://wheresthe.ai/d/us-treasury-ai-financial-services-report-2024-12/ (source: U.S. Department of the Treasury).

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