Regulators from Treasury, CFPB and OCC say the resources will especially help small banks that adopted cloud practices “before they were ready.”

Key objectives of the group include documenting effective practices for managing cloud third-party risk and developing guidance for institutions looking to adopt the technology.

Leaders at four major federal agencies say they will use civil rights and consumer rights laws to take enforcement action against AI systems that perpetuate bias.

Bias and privacy risks associated with the technology can't be properly identified until NIST completes much-awaited impact assessments.