summary
Introduced
09/28/2023
09/28/2023
In Committee
09/28/2023
09/28/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To establish the Task Force on Artificial Intelligence in the Financial Services Sector to report to Congress on issues related to artificial intelligence in the financial services sector, and for other purposes.
AI Summary
This bill establishes the Task Force on Artificial Intelligence in the Financial Services Sector, which is tasked with reporting to Congress on issues related to the use of artificial intelligence (AI) in the financial services sector. The Task Force will consist of various federal regulators and will provide a report within one year that describes how banks and credit unions protect themselves and consumers from fraud using AI, defines key AI terms, identifies potential risks from the misuse of AI by bad actors, recommends best practices for financial institutions to protect consumers, and provides legislative and regulatory recommendations to regulate AI and protect consumers from data theft, identity theft, and fraud. The Task Force will then terminate 90 days after issuing its final report.
Committee Categories
Business and Industry
Sponsors (11)
Brittany Pettersen (D)*,
Ami Bera (D),
Suzanne Bonamici (D),
Anna Eshoo (D),
Brian Fitzpatrick (R),
Mike Flood (R),
Josh Gottheimer (D),
Josh Harder (D),
Mike Lawler (R),
Marc Molinaro (R),
Alexandria Ocasio-Cortez (D),
Last Action
Referred to the House Committee on Financial Services. (on 09/28/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/5808/all-info |
| BillText | https://www.congress.gov/118/bills/hr5808/BILLS-118hr5808ih.pdf |
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