Treasury Calls for Federal Payments Framework, but Key Details Remain Unclear

Larger financial institutions have an edge over smaller ones in AI-related fraud prevention. That’s according to a new report from the U.S. Treasury on dealing with artificial intelligence (AI)-centered risks in the financial sector. “As more firms deploy AI, a gap exists in the data available to financial institutions for...

Federal officials are reportedly examining ways to expand deposit protections to halt a possible financial meltdown. As Bloomberg News reported Monday (Mar. 20), staff members at the Treasury Department are studying whether regulators have the authority to temporarily insure deposits above the traditional $250,000 limit...

The U.S. Department of Treasury is asking for public comment on any risks that digital assets pose in terms of illicit finance and national security.  This Request for Comment (RFC) will be open through Nov. 3. It follows President Joe Biden’s executive order, “Ensuring Responsible...

The U.S. Treasury Department plans to advise the federal government to issue a digital dollar, though it will only officially sign off if there’s a government signal that it’s “in the national interest.” The question of national interest will come down to specifics from the...