Trump signs AI cybersecurity executive order for community banks

President Donald Trump signed an executive order for the Treasury and Department of Homeland Security to expand artificial intelligence-powered cybersecurity tools to community banks. .Trump’s June 2 order was part of his broader directive expanding or establish programs and cybersecurity services that boost AI-enabled defensive tools to rural hospitals and local utilities. He had been scheduled to issue the order last month, but that was delayed after tech executives expressed concerns. Federal agencies were directed to put together a voluntary framework for developers to submit their AI models for review up to 30 days before release to other groups. The order includes establishing an AI cybersecurity clearinghouse that would align scanning for software vulnerabilities and the distribution of vulnerability patches. Banking trade associations welcomed the decision. “Building on that foundation, successful implementation will depend on ensuring that organizations of all sizes, including community banks, have timely access to actionable threat intelligence, effective cybersecurity tools and practical mechanisms for coordinated response,” said American Bankers Association President/CEO Rob Nichols. Independent Community Bankers of America President and CEO Rebeca Romero Rainey thanked the Trump administration “for expressly recognizing community banks as a critical infrastructure component.”