Model validation
-
The European Banking Authority Maps the AI Act Against EU Banking and Payments Law for AI That Assesses the Creditworthiness of Natural Persons
In a letter of November 21, 2025, the European Banking Authority tells the European Commission where EU banking and payments law already has obligations relevant to the AI Act's requirements on high-risk AI used to assess creditworthiness, including where the act "does not envisage targeted derogations or other regulatory synergies."
-
Australia's Prudential Regulator Says Assurance Practices Are Not Keeping Pace With AI at the Selected Large Entities It Engaged With
In a letter of April 30, 2026 to the entities it regulates, APRA reports what it found among selected large banks, insurers and superannuation trustees, among them a reliance on "point in time and sample based assurance methods" that it calls "ill suited to probabilistic models that learn, adapt and degrade over time."
-
Respondents to the Bank of England and FCA's 2026 AI Survey Most Often Relied on Vendor Assurance and Contracts to Understand High-Materiality Third-Party AI
In a report published on October 26, 2026, the Bank of England and the Financial Conduct Authority describe their fourth survey of artificial intelligence in UK financial services, and say third-party implementations made up a larger share of the AI systems firms considered highly material than in 2024.
-
Connecticut's Banking Department Says It Plans to Review the AI Systems of the Entities It Regulates During Supervisory Examinations
In guidance dated September 22, 2026, the Connecticut Department of Banking set out its expectations for how the Connecticut-chartered financial institutions and other entities it licenses or regulates should govern the AI systems they use, and said it plans to review those systems and related policies and procedures during supervisory examinations.
-
Tax authorities and e-invoicing
The Treasury Inspector General for Tax Administration Reviewed Five IRS AI Use Cases and Found Risk Management Practices Need Improvement
On September 24, 2026, the Treasury Inspector General for Tax Administration reported on five AI use cases the IRS presumed to be high-impact. It found that the IRS did not fully document its evaluation of risk, or how it evaluated the quality and appropriateness of the data used in its AI use cases.
-
Not Within the Scope of This Guidance: Generative AI in the US Bank Regulators' Model Risk Guidance of April 2026
On April 17, 2026, three US bank regulators issued revised guidance on model risk management. Generative AI and agentic AI models, a footnote says, "are not within the scope of this guidance."
