Category: Michael S. Barr

Top Fed Regulator Cautions AI Risks Violating Lending Laws

July 19, 2023
artificial intelligenceBusiness & MarketseconomyFederal ReserveMarketsMichael S. BarrPolicies & ImpactsUSUS News
0 Comment

Artificial intelligence could come with both advantages and risks in the financial system, cautions the Federal Reserve’s chief banking regulator. Michael S. Barr, the Fed Vice Chair for Supervision, told the National Fair Housing Alliance 2023 National Conference on July 18 that underserved communities could have greater access to housing because AI technology, such as…

Read More

Fed Official Proposes Increased Capital Requirements for Big Banks

July 10, 2023
banksFederal ReserveMichael S. BarrUSUS News
0 Comment

Michael S. Barr, the Federal Reserve’s vice chair for supervision, outlined a sweeping initiative to bolster capital requirements for the nation’s largest banks to enhance the resilience of the U.S. banking system. The main proposal is mandating the largest banks to hold an extra two percentage points of capital, or an additional $2 of capital…

Read More