U.S. House Committee on Financial Services advances six bills including a proposal to replace the Federal Reserve dual mandate with price stability only

The U.S. House Committee on Financial Services announced that it has reported six bills to the House of Representatives, combining a proposed change to the Federal Reserve's policy objective with a wider package on fraud prevention, artificial intelligence, and supervisory technology. One bill, the Price Stability Act of 2025, passed 30-21 and would replace the Federal Reserve's dual mandate with a single mandate focused on price stability. The other measures would strengthen protections against fraud and exploitation affecting retirees, require federal agencies to jointly assess the national and economic security risks from the use of AI in financial crimes, and direct financial regulators to create AI Innovation Labs and regulatory sandboxes for testing AI applications with tailored regulatory relief. The package also includes a bill requiring regulators to assess whether their technology, supervisory tools, data infrastructure, and procurement practices support real-time oversight, and a banking fraud bill requiring a review of how AI and other advanced technologies are used to combat fraud, the barriers faced by community banks and credit unions, and a voluntary pilot program to widen access to fraud-fighting tools. These five bills passed committee by margins ranging from 33-19 to 52-1 and now move to the House of Representatives.