Press Releases

The House Committee on Financial Services, led by Chairman French Hill (AR-02), successfully reported 6 bills to the House of Representatives.

“Yesterday, we advanced legislation that reflects the Committee's core mission of promoting financial innovation, strengthening consumer protections, and ensuring our regulatory framework keeps pace with a rapidly evolving financial landscape,” said Chairman Hill.

H.R. 5396, the Price Stability Act of 2025, sponsored by Chairman Hill, Rep. Byron Donalds (FL-19), and Rep. Marlin Stutzman (IN-03), passed 30-21 on a bipartisan basis. This bill replaces the Federal Reserve’s dual mandate with a single price stability mandate to ensure that the Federal Reserve remains focused on fighting and preventing inflation.

• Watch Chairman Hill’s remarks here.
• Watch Rep. Stutzman’s remarks here.

H.R. 2978, the Guarding Unprotected Aging Retirees from Deception (GUARD) Act, sponsored by Rep. Zach Nunn (IA-03), Rep. Scott Fitzgerald (WI-05), and Rep. Josh Gottheimer (NJ-05), passed 52-0. This bill targets financial fraud and exploitation risks for elderly Americans by strengthening protections, improving detection tools, and enhancing enforcement against scams affecting retirees.

• Watch Rep. Nunn’s remarks here.
• Watch Subcommittee on National Security, Illicit Finance, and International Financial Institutions Chairman Warren Davidson’s (OH-08) remarks here.

H.R. 2152, the Artificial Intelligence Practices, Logistics, Actions, and Necessities (AI PLAN) Act, sponsored by Rep. Nunn and Rep. Jim Himes (CT-04), passed 52-0. This bill directs federal agencies to jointly assess the national and economic security risks posed by the use of AI in financial crimes. The bill also requires recommendations for legislative action, agency resource needs, and public- and private-sector best practices to mitigate these emerging threats.

• Watch Rep. Nunn’s remarks here.

H.R. 4801, the Unleashing AI Innovation in Financial Services Act, sponsored by Chairman Hill, Rep. Richie Torres (NY-15), Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil (WI-01), and Rep. Gottheimer, passed 33-19 on a bipartisan basis. This bill requires financial regulators to establish AI Innovation Labs that allow regulated entities to test AI applications within regulatory sandboxes. These sandboxes would permit firms to pilot financial products and services under tailored regulatory relief, subject to agency approval, conditions, and alternative compliance safeguards.

• Watch Chairman Hill’s remarks here.
• Watch Rep. Steil's remarks here.

H.R. 8278, the Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision (FUTURES) Act, sponsored by Rep. Stutzman and Rep. Bill Foster (IL-11), passed 52-0. This bill requires financial regulators to assess whether their technology systems, supervisory tools, and data infrastructure are sufficient to support real-time oversight of regulated firms. The bill also directs agencies to review procurement practices and report to Congress on their technology capabilities, workforce, data-sharing processes, and modernization needs.

• Watch Rep. Stutzman’s remarks here.

H.R. 8671, the Bank Fraud Technology Advancement Act of 2026, sponsored by Subcommittee on Housing and Insurance Chairman Mike Flood (NE-01) and Rep. Brittany Pettersen (CO-07), passed 52-1. This bill enhances fraud detection and prevention in the banking system by directing financial regulators to assess how AI and other advanced technologies are being used to combat financial fraud, identify barriers facing community banks and credit unions, and expand access to fraud-fighting technology through a voluntary pilot program.

• Watch Rep. Flood’s remarks here.
• Watch Rep. Steil’s remarks here.

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