Election Day is coming — are you registered to vote?
119th Congress
Independent · Nonpartisan · Reader-supported
Browse Bills
← Back to all bills
HOUSEH.R. 8671· 119th Congress

Bill directs banking agencies to study advanced fraud detection technology use

Bank Fraud Technology Advancement Act of 2026

Sponsor
Mike Flood (R-NE)
Introduced
May 7, 2026
Last Action
Jun 18, 2026

Recorded legislative actions. Future votes are not implied.

✓
Introduced
May 7, 2026
✓
In Committee
May 7, 2026
✓
Passed Committee
May 13, 2026

AI-assisted analysis based on the official CRS summary. Source version: Jul 10, 2026. Analysis updated: Sep 15, 2026.

01 — The Text

What.

  • Four federal banking agencies (OCC, FDIC, Federal Reserve, NCUA) must jointly study how insured depository institutions and credit unions use advanced fraud detection technology
  • The study must evaluate current use and effectiveness of fraud detection technology, access by community financial institutions, and use of artificial intelligence and machine learning in fraud detection
  • Agencies must report findings, determinations, and legislative recommendations to congressional committees and release the report publicly
  • Federal banking agencies are authorized to jointly establish a temporary pilot program to help small insured depository institutions and credit unions access advanced fraud detection tools
02 — The Stakes

So what?

  • The bill creates no direct regulatory requirements; it mandates only that a study be conducted and reported
  • Effects on community financial institutions depend on pilot program design and study recommendations, which are not yet determined
  • No timeline for study completion, pilot program duration, or implementation of recommendations is specified in the bill
  • The bill does not establish what constitutes 'advanced' technology or define performance standards
03 — The Path

Now what?

  • Bill was introduced in House on May 7, 2026
  • Committee on Financial Services held markup on May 13, 2026 and ordered it reported (amended) by vote of 52-1
  • Committee reported amended bill on June 18, 2026 (House Report 119-704)
  • Bill was placed on Union Calendar No. 612 on June 18, 2026
Legislative History

Actions.

  • Jun 18, 2026 — Placed on the Union Calendar, Calendar No. 612.
  • Jun 18, 2026 — Reported (Amended) by the Committee on Financial Services. H. Rept. 119-704.
  • Jun 18, 2026 — Reported (Amended) by the Committee on Financial Services. H. Rept. 119-704.
  • May 13, 2026 — Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 1.
  • May 13, 2026 — Committee Consideration and Mark-up Session Held
  • May 7, 2026 — Introduced in House
  • May 7, 2026 — Referred to the House Committee on Financial Services.
  • May 7, 2026 — Introduced in House