{"id":210450,"date":"2026-02-05T16:39:00","date_gmt":"2026-02-05T21:39:00","guid":{"rendered":"https:\/\/news-you-need.com\/index.php\/2026\/02\/05\/treasury-pushing-for-robust-use-of-ai-in-banking-but-in-a-gradual-way\/"},"modified":"2026-02-05T16:45:08","modified_gmt":"2026-02-05T21:45:08","slug":"treasury-pushing-for-robust-use-of-ai-in-banking-but-in-a-gradual-way","status":"publish","type":"post","link":"https:\/\/news-you-need.com\/index.php\/2026\/02\/05\/treasury-pushing-for-robust-use-of-ai-in-banking-but-in-a-gradual-way\/","title":{"rendered":"Treasury pushing for \u2018robust\u2019 use of AI in banking, but in a \u2018gradual\u2019 way"},"content":{"rendered":"

Treasury pushing for \u2018robust\u2019 use of AI in banking, but in a \u2018gradual\u2019 way<\/a><\/p>\n

https:\/\/fedscoop.com\/treasury-department-artificial-intelligence-banking-industry\/<\/a><\/p>\n

Publish Date: 2026-02-05 16:39:00<\/a><\/p>\n

Source Domain: fedscoop.com<\/a><\/p>\n

The Treasury Department is looking to push artificial intelligence adoption across the financial services sector in a \u201cgradual\u201d but ultimately \u201crobust\u201d way, leaning into public-private partnerships and potentially AI sandboxes, Secretary Scott Bessent told Congress this week.<\/p>\n

Appearing before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday, Bessent was teed up by several lawmakers to address AI priorities spelled out in the Financial Stability Oversight Council\u2019s Annual Report to Congress.<\/p>\n

The report, published by the Treasury Department last December, listed \u201cHarnessing Artificial Intelligence to Promote Financial Stability\u201d as one of FSOC\u2019s four key areas of focus. It recommended that agencies use FSOC\u2019s AI working group to identify \u201cregulatory impediments\u201d to financial institutions adopting AI.\u00a0<\/p>\n

Sen. Mike Rounds, R-S.D., co-chair of the Senate AI Caucus, asked Bessent what he views as the \u201cbiggest impediments\u201d preventing banks from \u201cadopting AI responsibly, especially for compliance, fraud detection and risk management.\u201d<\/p>\n

Bessent said there\u2019s still \u201ca great amount of learning to do\u201d when it comes to AI, so it\u2019s been the approach so far to have the regulatory agencies work \u201cwith our private partners to implement in a gradual way\u201d that leads to \u201crobust usage of AI.\u201d\u00a0<\/p>\n

\u201cAI can be a great tool,\u201d the secretary added, but \u201cwe have to also think that AI can be a risk through state and non-state actors. So it is a public-private partnership, and we are pushing very hard across the agencies and at Treasury.\u201d<\/p>\n

Last July, Rounds introduced a bill that would direct the Securities and Exchange Commission, the Federal Reserve, the Consumer Financial Protection Bureau and other federal financial agencies to create in-house AI innovation labs. Those labs would essentially serve as sandboxes for agencies to test AI projects \u201cwithout unnecessary…<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Treasury pushing for \u2018robust\u2019 use of AI in banking, but in a \u2018gradual\u2019 way https:\/\/fedscoop.com\/treasury-department-artificial-intelligence-banking-industry\/…<\/p>\n","protected":false},"author":1,"featured_media":210451,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/fedscoop.com\/wp-content\/uploads\/sites\/5\/2026\/02\/GettyImages-2260088372.jpg","fifu_image_alt":"","footnotes":""},"categories":[14],"tags":[],"class_list":["post-210450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence"],"_links":{"self":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/210450"}],"collection":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=210450"}],"version-history":[{"count":1,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/210450\/revisions"}],"predecessor-version":[{"id":210452,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/210450\/revisions\/210452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/210451"}],"wp:attachment":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=210450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=210450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=210450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}