The Compliance 911 Show30 Elo 2023

Artificial Intelligence (AI) and Banking

In this podcast episode, Len Suzio and Dean Stockford discuss the unregulated use of Artificial Intelligence (AI) in the banking industry. Dean brings up how, amidst the focus on fair lending and Unfair, Deceptive, or Abusive Acts or Practices (UDAAP), there have been increasing concerns about potential bias in AI systems. Specifically, red flags have been raised about scoring systems built into the lending process and the potential for inadvertent redlining in marketing systems. Both Len and Dean concur on the importance of understanding and regulating the use of AI in banking systems.

Dean suggests several proactive measures for financial institutions (FIs) in anticipation of regulatory exams. He recommends conducting an enterprise-wide inventory of all AI-utilizing systems and understanding their specific applications, starting with BSA/AML and Fraud departments, followed by Lending/Underwriting, Marketing, and Human Resources. In addition, he urges FIs to conduct fair lending data analyses and risk assessments with specific emphasis on AI in lending/underwriting systems. To conclude, Dean emphasizes the need for management to understand underwriting systems through thorough testing and analysis, and document vendors' explanations and testing results, to gain a comprehensive view of the risk these systems pose to their institutions.

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Jaksot(100)

Community Development Benchmarks

In this episode of Compliance 911, Dean Stockford and Len Suzio discuss the OCC’s proposed Community Development benchmarks for CRA performance, focusing on why community development has historically ...

15 Heinä 12min

Unpacking FDIC Consumer Compliance 2026 Supervisory Highlights

In this episode of Compliance 911, Len Suzio and Dean Stockford unpack the FDIC’s 2026 Consumer Compliance Supervisory Highlights, noting that while 98% of FDIC-supervised institutions earned satisfac...

25 Kesä 13min

CRA: The Importance of Assessment Areas

The episode “CRA: The Importance of Assessment Areas” explains why a bank’s CRA assessment area is one of the most important decisions it makes, because it directly affects both performance results an...

17 Kesä 11min

AI Integration Into Compliance

The episode “AI Integration Into Compliance” explains how artificial intelligence is already becoming a practical tool for bank compliance teams as regulatory expectations rise, data volumes grow, and...

10 Kesä 13min

CRA: Other Ways in which banks help meet the needs of the community

This podcast explains that banks can strengthen their CRA exam performance by presenting additional lending activity that examiners may not otherwise consider, beyond the usual focus on small business...

27 Touko 11min

Cyber Phishing

Cyber phishing remains one of the most significant and rapidly growing cybersecurity threats, accounting for the vast majority of successful cyberattacks and impacting both individuals and organizatio...

14 Touko 12min

CFPB NPR Section 1071 Compliance Dates

In this episode, Len Suzio and Dean Stockford discuss the CFPB’s November 2025 proposed rulemaking on Section 1071 and explain how it could dramatically scale back the current small business lending d...

4 Touko 11min

Compliance Risk Management in 2026

In this episode, Dean Stockford and Len Suzio discuss what compliance risk management should look like in 2026 as financial institutions face rising fraud, cyber threats, AI-related risks, third-party...

10 Huhti 11min