The Treasury Department is seeking comments from the public about the use of artificial intelligence (AI) in the financial services sector. The agency released a request for information on Thursday (June 6) and said it encourages the submission of comments within 60 days, according to...
Treasury Secretary Janet Yellen will caution financial institutions on Thursday (June 6) about risks associated with the use of artificial intelligence (AI). While AI is already used in the financial services sector for forecasting, fraud prevention, customer support and other use cases, the technology’s rapid...
The Treasury Department has a warning for NFT fans: use them at your own risk. The department released an assessment Wednesday (May 29) finding that non-fungible tokens (NFTs) — while rarely involved in things like terror financing — are nonetheless “highly susceptible” to theft and use in fraud and...
The Department of the Treasury has outlined the priorities it will pursue this year to step up the fight against illicit finance. The agency aims to increase transparency, leverage partnerships and support responsible technological innovation, it said in a Thursday (May 16) press release announcing the publication of its “2024...
November 22, 2023
Cryptocurrency exchanges play a vital role in the digital asset ecosystem. They facilitate the buying, selling, trading, transferring, and storing of both individual and institutional holdings of the more than 20,000 crypto tokens in circulation. The role they play, however, is rarely without governmental scrutiny and increasingly legal consequences. From the U.S. Securities Exchange Commission […]
July 13, 2022
A new Treasury Department report argues that banks’ fears that a digital dollar would lead to the loss of depositors and even bank runs is overblown. A U.S. central bank...
December 05, 2019
Call it Russian interference of a different sort that netted $100 million from banks and financial institutions (FIs) in more than 40 countries. What would you expect from an outfit...
June 13, 2024
America’s job market is starting to resemble its pre-pandemic self, says Treasury Secretary Janet Yellen. Speaking to CNBC Thursday (June 13), Yellen also noted that cooling wage growth does not threaten to compound inflation. “The labor market has become a little less hot, a little bit more normal. The number of job openings has declined some. We’ve […]
June 06, 2024
The Treasury Department is seeking comments from the public about the use of artificial intelligence (AI) in the financial services sector. The agency released a request for information on Thursday...
June 05, 2024
Treasury Secretary Janet Yellen will caution financial institutions on Thursday (June 6) about risks associated with the use of artificial intelligence (AI). While AI is already used in the financial...
May 30, 2024
The Treasury Department has a warning for NFT fans: use them at your own risk. The department released an assessment Wednesday (May 29) finding that non-fungible tokens (NFTs) — while rarely involved in things...
