The U.S. House Financial Services Committee published Chairman French Hill’s prepared remarks for a markup of bills that would expand the federal response to artificial intelligence-enabled financial fraud, create regulatory sandboxes for financial services technology, strengthen anti-scam enforcement, assess regulators’ technology gaps, and refocus the Federal Reserve on price stability. The remarks present the package as part of the committee’s agenda on financial innovation, consumer protection, and updating the regulatory framework for a more technology-driven financial system. Under the measures described, the AI Plan Act would direct the executive branch to develop a comprehensive plan to protect the financial system and sensitive data from misuse of artificial intelligence. The Unleashing AI Innovation in Financial Services Act would promote responsible use of artificial intelligence through regulatory sandboxes that let federal agencies test and evaluate emerging technologies. The Bank Fraud Technology Advancement Act would require federal regulators to study how institutions use advanced fraud detection technologies and establish a voluntary pilot program to help smaller banks and credit unions access them. The GUARD Act would expand federal grant access for state, local, and Tribal agencies investigating scams targeting seniors, improve coordination with federal agencies, and broaden access to blockchain tracing tools. The FUTURES Act would require federal financial regulators to assess their current technological capabilities and identify gaps, while the Price Stability Act of 2025 would seek to refocus the Federal Reserve on maintaining price stability and managing inflation.

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