Unleashing AI Innovation in Financial Services Act

Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 19.

2026-05-13

The proposal would allow banks and financial companies to use artificial intelligence tools with fewer regulatory restrictions, aiming to speed up innovation in areas like loan decisions, fraud detection, and investment advice. Financial institutions would have more flexibility to test and deploy AI systems, though they would still need to disclose when they're using AI and manage risks to consumers. This would primarily affect banks, investment firms, and their customers who use financial services.