Banks must strengthen vendor risk management
New federal guidance explicitly excludes generative, agentic AI
Financial institutions must take a more proactive role in managing third-party vendor risk amid SR 26-2 and broader regulatory uncertainty. SR 26-2 is federal guidance on how banks should govern AI across all aspects of financial services, but it explicitly excludes agentic and gen AI because they are “novel and rapidly evolving,” according to a letter issued on April 17 by the Federal Reserve, the Office of the Comptroller […]
