[Federal Register Volume 86, Number 98 (Monday, May 24, 2021)]
[Notices]
[Pages 27960-27961]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-10861]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency

[Docket ID OCC-2020-0049]

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

[Docket No. OP-1743]

FEDERAL DEPOSIT INSURANCE CORPORATION

RIN 3064-ZA24

BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2021-0004]

NATIONAL CREDIT UNION ADMINISTRATION

[Docket No. NCUA-2021-0023]


Request for Information and Comment on Financial Institutions' 
Use of Artificial Intelligence, Including Machine Learning

AGENCY: Board of Governors of the Federal Reserve System (Board), 
Bureau of Consumer Financial Protection (Bureau), Federal Deposit 
Insurance Corporation (FDIC), National Credit Union Administration 
(NCUA), and Office of the Comptroller of the Currency (OCC).

ACTION: Request for information and comment; Extension of comment 
period.

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SUMMARY: On March 31, 2021, the Board, Bureau, FDIC, NCUA, and OCC 
(together, the agencies) published in the Federal Register a document 
entitled ``Request for Information and Comment on Financial 
Institutions' Use of Artificial Intelligence, including Machine 
Learning'' (RFI) and invited comments on financial institutions' use of 
artificial intelligence (AI), including machine learning (ML). In 
response to concerns raised by commenters that the current comment 
deadline may not provide sufficient time to analyze and respond to the 
RFI due to the complex technical nature and significance of the topic, 
the agencies have determined that an extension of the comment period 
until July 1, 2021, is appropriate.

DATES: The end of the comment period for the document entitled 
``Request for Information and Comment on Financial Institutions' Use of 
Artificial Intelligence, including Machine Learning,'' published on 
March 31, 2020 (86 FR 16837), is extended from June 1, 2021, until July 
1, 2021.

ADDRESSES: You may submit comments by any of the methods identified in 
the RFI.\1\ Please submit your comments using only one method.
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    \1\ See 86 FR 16837-38 (March 31, 2021).

FOR FURTHER INFORMATION CONTACT: 
    OCC: Kevin Greenfield, Deputy Comptroller for Operational Risk, 
Norine Richards, Director for Bank Technology Operations, Paul Reymann, 
Director for Consumer Compliance Policy, or Siobhan Williams, Bank 
Information Technology Analyst, Bank Supervision Policy Department, 
(202) 649-6550; Beth Knickerbocker, Chief Innovation Officer, or Maggie 
Colvin, Innovation Officer, Office of Innovation, (202) 649-5200; 
Alireza Ebrahim, Senior Financial Economist, Risk Analytics Division, 
(202) 649-5515; or Jorge D. Aguilar, Counsel, Chief Counsel's Office, 
(202) 649-7187.
    Board: David Palmer, Lead Financial Institution Policy Analyst, 
(202) 452-2904, Jeff Ernst, Lead Financial Institution Policy Analyst, 
(202) 452-2814, or Kavita Jain, Deputy Associate Director, (202) 452-
2062, Division of Supervision and Regulation; Dana Miller, Senior 
Counsel, (202) 452-2751, Division of Consumer and Community Affairs, or 
Patricia Yeh, Senior Counsel, (202) 452-3089, or Gavin Smith, Senior 
Counsel, (202) 452-3474, Legal Division, Board of Governors of the 
Federal Reserve System, 20th and C Streets NW, Washington, DC 20551. 
For users of Telecommunication Device for the Deaf (TDD), (202) 263-
4869.
    FDIC: Sumaya Muraywid, Senior Examination Specialist, Division of 
Risk Management Supervision, (202) 898-3904, [email protected]; David

[[Page 27961]]

Friedman, Senior Policy Analyst, Division of Depositor and Consumer 
Protection, 202-898-7168, [email protected]; or Chris Ledoux, 
Corporate Expert, Legal Division, 202-898-3535, [email protected].
    Bureau: Albert D. Chang, Senior Counsel, Office of Innovation, 
(202) 450-7299; Patrice Alexander Ficklin, Fair Lending Director, 
Office of Fair Lending & Equal Opportunity, (202) 435-7205; and Kathryn 
Lazarev, Senior Counsel, Office of Regulations, (202) 435-7700. If you 
require this document in an alternative electronic format, please 
contact [email protected].
    NCUA: Timothy Segerson, Deputy Director, Office of Examination & 
Insurance, 703-518-6300; Chrisanthy Loizos, Senior Trial Attorney, 
Office of General Counsel, 703-518-6540; Joe Goldberg, Director, 
Division of Consumer Compliance Policy and Outreach, 703-518-1142.

SUPPLEMENTARY INFORMATION: On March 31, 2021, the agencies published in 
the Federal Register \2\ a document inviting comments on financial 
institutions' use of artificial intelligence (AI), including machine 
learning (ML). The request for information (RFI) was issued to obtain 
respondents' views on financial institutions' use of AI in their 
provision of services to customers and for other business or 
operational purposes; appropriate governance, risk management, and 
controls over AI; and any challenges in developing, adopting, and 
managing AI. The RFI also solicited respondents' views on the use of AI 
in financial services to assist in determining whether any 
clarifications from the agencies would be helpful for financial 
institutions' use of AI in a safe and sound manner and in compliance 
with applicable laws and regulations, including those related to 
consumer protection. The document stated that the comment period would 
close on June 1, 2021. The agencies have received requests to extend 
the comment period. An extension of the comment period will provide 
additional opportunity for the public to analyze the RFI and prepare 
comments to address the questions posed by the agencies. Therefore, the 
agencies are extending the end of the comment period for the RFI from 
June 1, 2021 until July 1, 2021.
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    \2\ Request for Information and Comment on Financial 
Institutions' Use of Artificial Intelligence, including Machine 
Learning. 86 FR 16837-38 (March 31, 2021).
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    Bureau: The Acting Director of the Bureau, David Uejio, having 
reviewed and approved this document, is delegating the authority to 
electronically sign this document to Grace Feola, a Bureau Federal 
Register Liaison, for purposes of publication in the Federal Register.

Michael J. Hsu,
Acting Comptroller of the Currency.
    By order of the Board of Governors of the Federal Reserve 
System.
Ann Misback,
Secretary of the Board.

Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on May 13, 2021.
James P. Sheesley,
Assistant Executive Secretary.
Grace Feola,
Federal Register Liaison, Bureau of Consumer Financial Protection.
Melane Conyers-Ausbrooks,
Secretary of the Board, National Credit Union Administration.
[FR Doc. 2021-10861 Filed 5-21-21; 8:45 am]
BILLING CODE 4810-33-P; 6210-01-P; 4810-AM-P; 6714-01-P