President Trump proposes national AI framework 

President Donald Trump proposed removing state-level artificial intelligence laws and installing a national standard. 

Details: In an executive order, President Trump said: 

• State-by-state regulation creates a patchwork of 50 different regulatory regimes that makes compliance more challenging.  

• The administration must act with Congress to ensure there is a minimally burdensome national standard, and the resulting framework must forbid state laws that conflict with the national policy. 

ICBA View: ICBA in October called on the White House to harmonize the regulatory framework for AI to address ambiguities inhibiting its adoption. 

Recent Advocacy:  

• ICBA in September told Congress that while AI has the potential to help community banks meet regulatory burdens and expand access to credit, thoughtful regulation is needed to ensure innovation does not come at the expense of consumer protection or financial stability. 

• Prior to President Trump’s release of an AI Action Plan earlier this year, ICBA told the National Science Foundation that AI has the potential to improve efficiency, strengthen risk management, and enhance customer service, but regulatory frameworks must evolve. 

Resource for Community Bankers: A recent Independent Banker magazine article offers tips for community banks that are developing policies on artificial intelligence.