AI PLAN Act

Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0.

2026-05-13

The legislation would require financial institutions and companies to develop and maintain plans for managing risks related to artificial intelligence systems they use in their operations. Banks, investment firms, and other financial companies would need to assess how AI tools could fail or cause problems, and create strategies to protect customers and maintain financial stability. The measure aims to ensure that as financial services increasingly rely on AI for decisions like loan approvals and trading, there are safeguards in place to prevent errors or system failures from harming consumers or the broader economy.