A bot from nCino lets people in the commercial lending department quickly find information in loan documents and in policy manuals that are hundreds of pages long.

Rep. French Hill, R-Ark. — one of the leading contenders to chair the House Financial Services Committee next year — focused on 'debanking' of crypto and other companies in his questions to the witnesses.

Artificial intelligence systems built to assess creditworthiness are trained on data that implicitly accepts past discriminatory lending decisions as legitimate signals about borrowers today.

The two bills would require banking agencies to study artificial intelligence and its application in the banking sector, and would codify findings from an earlier AI working group formed by the committee.

The technology has the potential to democratize access to knowledge about financial services, but like any tool, it must be used carefully and responsibly.

Items include estimations of President-elect Donald Trump's impact on fintech funding, the fallout from VyStar Credit Union's tech moves and more.

In a string of speeches last week, the top federal banking regulators outlined goals and framed their thinking about artificial intelligence in financial services, but the biggest questions around liability and widespread adoption remain unanswered.

While the risks, benefits and magnitude of artificial intelligence's impact on financial services remain unclear, agencies should keep an open mind toward the technology and avoid reflexive risk aversion in bank supervision, Federal Reserve Gov. Michelle Bowman said.

The 2.0 version, expected to launch next year, will provide more detailed responses based on more complex, humanlike thought processes.

Acting Comptroller of the Currency Michael Hsu said that while artificial intelligence is a potentially transformative technology, regulators should be wary of waiving liability for its use in banking.