FDIC · FDIC-61 · record R1081

Financial Background Investigation

Federal Deposit Insurance Corporation · Division of Administration

Overview

Development stage: DeployedSource: c) Deployed – The use case is being actively authorized or utilized to support the functions or mission of an agency.
High-impact designation: Not high-impactSource: c) Not high-impact
Impact justification: Not reported
Start date: Not reported
Withheld from public reporting: NoSource: a) No

Mission

Topic area: Human Resources
Operational functions: HR and workforce Derived by keyword rules; see methodology

Problem the AI is intended to solve

By automating the verification process for conducting background screenings, the tool helps FDIC make faster and more informed hiring and investigatory decisions.

Expected benefits

Improving the time in completing background screening. Reduce inaccurate and/or incomplete information on individuals. Reduce the manual verification process, which can be cumbersome and place a heavy administration burden on HR staff.

System outputs

System outputs only include credit information such as if payments are made on-time, any delinquencies, and/or liens or bankruptcies etc. An applicant’s FICO score is not part of the Financial Background Investigation process and is not that factored into the suitability, fitness, or eligibility determination.

Technology

AI classification: Classical / predictive MLSource: Classical/Predictive Machine Learning: Models trained on data to make predictions or classifications based on identified patterns or relatio…
System name(s): Not reported
Custom-developed code: No
Public source code: Not reported

Sourcing

How it was built: Purchased from vendorSource: a) Purchased from a vendor
Vendor (as reported): Equifax, Trans Union
Vendors (standardized): None on the standard list

A vendor is the supplier named by the agency. It does not identify the underlying model or AI technology.

Data and privacy

Involves PII: Yes
Privacy Impact Assessment: Not reported
Authorization to Operate: No
Demographic features: Unknown
Training and evaluation data: Not Applicable
Federal Data Catalog: Not reported

Governance

0 of 8 minimum-practice questions answered. A blank answer means the agency reported nothing; it does not mean the practice is absent.

Pre-deployment testingNo answer reported

AI impact assessmentNo answer reported

Independent reviewNo answer reported

Ongoing monitoringNo answer reported

Operator trainingNo answer reported

Fail-safeNo answer reported

Appeal processNo answer reported

User and public consultationNo answer reported

Potential impacts and how they were identified

Not reported