Sonata Bank ramps up AI initiatives amid SR 11-7 rescission
Fed’s new AI framework could spur innovation at banks smaller than $30B
Sonata Bank is preparing to ramp up AI deployment, with a focus on lending, considering recent regulatory changes that could accelerate innovation at community banks. The Federal Reserve has rescinded SR 11-7 — a 2011 framework for how AI and machine learning is governed in banking — and replaced it with SR 26-2, making the framework proportional to the size and […]
