The U.S. Treasury does not supervise banks' AI directly, but it sets the federal agenda. Its March 27, 2024 report on AI-specific cybersecurity risks, its June 2024 request for information (103 comment letters), and its December 19, 2024 findings report shaped the interagency conversation, and on February 19, 2026 it released a voluntary Financial Services AI Risk Management Framework (FS AI RMF, adapted from the NIST AI RMF) and a shared AI Lexicon through the public-private AIEOG. As FSOC chair, Treasury has flagged AI in every annual report since 2023 and in December 2025 created an FSOC Artificial Intelligence Working Group to promote adoption while monitoring stability risks.
| Full name | U.S. Department of the Treasury (including the Financial Stability Oversight Council) |
| Role | Policy lead, sector risk-management agency, and FSOC chair |
| Force on banks | Voluntary framework |
| Applies to | All U.S. financial institutions indirectly — Treasury issues reports, voluntary frameworks, and FSOC recommendations rather than supervisory rules; the binding follow-through comes from the OCC, Federal Reserve, FDIC, CFPB, SEC, and state regulators |
| Key document | Financial Services AI Risk Management Framework (FS AI RMF) and AI Lexicon — voluntary, NIST-aligned resources released Feb 19, 2026 |
| Latest move | June 2026: FSOC and Treasury's AI Transformation Office concluded the four-roundtable AI Innovation Series (Mar–May 2026); participants asked for regulatory clarity and harmonization to scale AI adoption |
| Documents tracked | 9 · all documents → |
Treasury's AI work runs on three tracks. First, as the Sector Risk Management Agency for financial services, its Office of Cybersecurity and Critical Infrastructure Protection (OCCIP) produced the March 2024 report on managing AI-specific cybersecurity and fraud risks (written under Executive Order 14110) and then, with the FBIIC and the Financial Services Sector Coordinating Council, stood up the Artificial Intelligence Executive Oversight Group (AIEOG). The AIEOG's six workstreams — AI Lexicon and taxonomy, a Financial Services AI Risk Management Framework, explainability, data 'nutrition labels', AI-enhanced fraud, and identity and authentication — were announced complete on February 18, 2026, with the Lexicon and FS AI RMF published the next day as non-binding resources.
Second, Treasury's Domestic Finance office ran the June 2024 Request for Information on the uses, opportunities and risks of AI in financial services and published its findings on December 19, 2024, recommending that regulators clarify supervisory expectations, close gaps in existing frameworks, and that firms review every AI use case for compliance with existing law before deployment. Third, Treasury chairs the Financial Stability Oversight Council: FSOC first named AI an emerging vulnerability in its 2023 annual report, catalogued explainability, data, performance, third-party and bias risks in 2024, and in its 2025 report pivoted to 'harnessing AI to promote financial stability', creating a standing AI Working Group and the 2026 AI Innovation Series of public-private roundtables.
Under the current administration Treasury's posture is explicitly pro-adoption: its 2026 outputs are framed as implementing Executive Order 14179 ('Removing Barriers to American Leadership in Artificial Intelligence', January 2025) and the July 2025 AI Action Plan. Treasury also practices what it recommends — its Office of Payment Integrity credited machine-learning check-fraud detection with $1 billion of the $4 billion in fraud and improper payments it prevented or recovered in fiscal 2024.
What has the U.S. Treasury actually published on AI?
| Date | Document | Status |
|---|---|---|
| Jun 24, 2026 | FSOC AI Innovation Series (Mar–May 2026) — Artificial Intelligence Innovation Series — FSOC and Treasury AI Transformation Office roundtables | Final |
| Feb 19, 2026 | Treasury FS AI RMF and AI Lexicon (Feb 2026) — Financial Services AI Risk Management Framework (FS AI RMF) and Artificial Intelligence Lexicon | Final |
| Dec 11, 2025 | FSOC 2025 Annual Report — Financial Stability Oversight Council 2025 Annual Report — Section 3.4, Harnessing Artificial Intelligence to Promote Financial Stability | Final |
| Dec 19, 2024 | Treasury AI in Financial Services report (Dec 2024) — Artificial Intelligence in Financial Services — Report on the Uses, Opportunities, and Risks of AI in the Financial Services Sector | Final |
| Dec 6, 2024 | FSOC 2024 Annual Report — Financial Stability Oversight Council 2024 Annual Report — Section 3.3.3, The Use of Artificial Intelligence in Financial Services | Superseded |
| Oct 17, 2024 | Treasury $4B AI fraud-prevention announcement (Oct 2024) — Treasury Announces Enhanced Fraud Detection Processes, Including Machine Learning AI, Prevented and Recovered Over $4 Billion in Fiscal Year 2024 | Final |
| Jun 12, 2024 | Treasury AI RFI (June 2024) — Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector | Final |
| Mar 27, 2024 | Treasury AI cybersecurity risks report (Mar 2024) — Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector | Final |
| Dec 14, 2023 | FSOC 2023 Annual Report — Financial Stability Oversight Council 2023 Annual Report — Section 3.3.3, The Use of Artificial Intelligence in Financial Services | Superseded |
| Date | Type | Document / event |
|---|---|---|
| Jun 24, 2026 | Report | FSOC AI Innovation Series (Mar–May 2026) — Artificial Intelligence Innovation Series — FSOC and Treasury AI Transformation Office roundtables. Announced by Secretary Bessent at the December 11, 2025 FSOC meeting, the AI Innovation Series was four public-private roundtables run by the Office of FSOC and Treasury's AI Transformation Office: Strategy and Governance (March 4, 2026), Value Generation and Efficiency (April 7), Cybersecurity and Risk Management (April 27), and Financial Stability and Economic Security (May 19). source ↗ |
| Feb 19, 2026 | Framework | Treasury FS AI RMF and AI Lexicon (Feb 2026) — Financial Services AI Risk Management Framework (FS AI RMF) and Artificial Intelligence Lexicon. On February 19, 2026 Treasury released a shared Artificial Intelligence Lexicon and the Financial Services AI Risk Management Framework (FS AI RMF), the first two of six deliverables from the Artificial Intelligence Executive Oversight Group (AIEOG), a public-private partnership of the FBIIC and the Financial Services Sector Coordinating Council. source ↗ |
| Feb 18, 2026 | Milestone | Treasury announces completion of the AIEOG public-private AI initiative. Treasury said six AIEOG deliverables — covering governance, data practices, transparency, fraud, and digital identity — would be released in stages during February 2026, aimed particularly at small and mid-sized institutions. |
| Dec 11, 2025 | Report | FSOC 2025 Annual Report — Financial Stability Oversight Council 2025 Annual Report — Section 3.4, Harnessing Artificial Intelligence to Promote Financial Stability. FSOC's 2025 annual report, unanimously approved December 11, 2025, made 'harnessing AI to promote financial stability' one of four priority areas and formalized an FSOC Artificial Intelligence Working Group. source ↗ |
| Jul 23, 2025 | Milestone | White House releases America's AI Action Plan. The Action Plan calls for clear standards, shared understanding, and risk-based governance; Treasury's February 2026 AIEOG resources and AI Innovation Series are framed as implementing it in the financial sector. |
| Jan 23, 2025 | Milestone | Executive Order 14179 'Removing Barriers to American Leadership in Artificial Intelligence' signed. Revoked EO 14110 (under which Treasury's March 2024 AI cybersecurity report was written) and set the deregulatory frame that Treasury's 2026 AI resources and FSOC's AI Innovation Series cite as their mandate. |
| Dec 19, 2024 | Report | Treasury AI in Financial Services report (Dec 2024) — Artificial Intelligence in Financial Services — Report on the Uses, Opportunities, and Risks of AI in the Financial Services Sector. On December 19, 2024 Treasury published its report on the uses, opportunities, and risks of AI in financial services, summarizing 103 responses to its June 2024 RFI. source ↗ |
| Dec 6, 2024 | Report | FSOC 2024 Annual Report — Financial Stability Oversight Council 2024 Annual Report — Section 3.3.3, The Use of Artificial Intelligence in Financial Services. FSOC's 2024 annual report, approved December 6, 2024, sharpened its AI analysis, warning that lack of explainability and high complexity could heighten instability beyond individual firms and that concentration in a few models or providers could create interconnection, herding, and contagion. source ↗ |
| Oct 17, 2024 | Report | Treasury $4B AI fraud-prevention announcement (Oct 2024) — Treasury Announces Enhanced Fraud Detection Processes, Including Machine Learning AI, Prevented and Recovered Over $4 Billion in Fiscal Year 2024. On October 17, 2024 Treasury announced that its Office of Payment Integrity, within the Bureau of the Fiscal Service, prevented and recovered over $4 billion in fraud and improper payments in fiscal 2024 (October 2023 to September 2024), up from $652.7 million in FY2023. source ↗ |
| Jun 12, 2024 | Consultation | Treasury AI RFI (June 2024) — Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector. Treasury announced its Request for Information on the uses, opportunities and risks of AI in financial services on June 6, 2024 and published it in the Federal Register on June 12, 2024 with a 60-day comment period. source ↗ |
| Mar 27, 2024 | Report | Treasury AI cybersecurity risks report (Mar 2024) — Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector. On March 27, 2024 the Treasury released 'Managing Artificial Intelligence-Specific Cybersecurity Risks in the Financial Services Sector', written under Executive Order 14110 and led by its Office of Cybersecurity and Critical Infrastructure Protection. source ↗ |
| Dec 14, 2023 | Report | FSOC 2023 Annual Report — Financial Stability Oversight Council 2023 Annual Report — Section 3.3.3, The Use of Artificial Intelligence in Financial Services. FSOC's 2023 annual report, approved December 14, 2023, was the first to identify the use of AI in financial services as an emerging vulnerability to U.S. source ↗ |
- Publication and uptake of the remaining AIEOG deliverables (explainability, data nutrition labeling, AI-enhanced fraud, identity and authentication) and whether examiners begin referencing the FS AI RMF
- FSOC's 2026 annual report (expected December 2026): the first full-year output of the AI Working Group and any follow-through on the 'regulatory impediments' identified in the AI Innovation Series
- Whether Treasury or FSOC translate Innovation Series feedback into concrete asks of the banking agencies — e.g., harmonized AI guidance or safe harbors for AI-enabled fraud and cyber defense
- Treasury's own AI deployment (AI Transformation Office, Chief AI Officer appointed June 2025) and updated fraud-prevention figures from the Bureau of the Fiscal Service
Is the Treasury FS AI RMF mandatory for banks?
No. The Financial Services AI Risk Management Framework and the AI Lexicon released on February 19, 2026 are voluntary, non-binding resources developed through the AIEOG public-private partnership. They adapt the NIST AI Risk Management Framework to financial services and are meant to be scalable for institutions of any size; binding expectations still come from the prudential regulators' model-risk, third-party, and consumer-protection rules.
What did FSOC say about AI in its 2025 annual report?
FSOC's December 11, 2025 report reframed AI as an opportunity as well as a risk, creating an Artificial Intelligence Working Group to identify high-value AI use cases for member agencies, monitor financial-stability risks from AI adoption inside and outside finance, and provide a public-private forum on regulatory impediments to responsible adoption.
Does Treasury regulate AI in financial services?
Not directly. Treasury publishes reports, voluntary frameworks, and FSOC recommendations, and it houses the OCC and FinCEN, which do have supervisory and enforcement powers. Its December 2024 RFI report recommended that regulators clarify supervisory expectations and that firms review AI use cases for compliance with existing laws before deployment.
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