01 — The Text
What.
- Four federal banking agencies must jointly study how banks currently use advanced fraud detection technology, including AI and machine learning.
- Agencies report findings to Congress and the public on what works, cost barriers for small banks, and governance gaps.
- Agencies can launch a temporary pilot program giving small banks and credit unions access to fraud detection tools they can't afford alone.
02 — The Stakes
So what?
- Community banks and credit unions gain insight into fraud prevention tools—many currently can't afford advanced tech that larger competitors use.
- Federal regulators get a roadmap for whether new rules or standards are needed as AI-powered fraud detection expands across banking.
- No immediate costs or mandates in the bill; study informs future policy without forcing change on financial institutions yet.
03 — The Path
Now what?
- Bill passed House Financial Services Committee on May 13 with 52-1 support and awaits full House floor vote.
- Contact your House representative to push for or against a floor vote, or support the pilot program expansion.
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