The U.S. Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing to examine how financial services regulators and firms are using artificial intelligence and to assess the benefits and risks of AI adoption. In opening remarks, Subcommittee Chairman Bryan Steil framed the session around whether the current regulatory framework can keep pace with rapid AI deployment while maintaining investor protection and market integrity. Steil highlighted existing use cases across financial services, including algorithmic trading, machine learning in risk management and governance, and fraud prevention, and pointed to generative AI as a further step that could bring new efficiencies alongside new risks. He argued that regulation should foster responsible adoption rather than stifle innovation, cited the Trump Administration’s AI Action Plan as emphasizing American AI leadership, and called for Congress to provide greater policy clarity, referencing prior Subcommittee work such as the CLARITY Act and the GENIUS Act. He said the hearing record is intended to build on prior work and inform future policy development aimed at supporting responsible innovation while strengthening US competitiveness in AI-enabled financial technology.
U.S. Financial Services Committee 2025-09-18
U.S. Financial Services Committee subcommittee holds hearing on financial sector use of AI and regulatory readiness
The U.S. Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing to evaluate AI use in financial services and its regulatory implications. Chairman Bryan Steil emphasized the need for a regulatory framework supporting responsible AI adoption without hindering innovation, referencing existing legislation like the CLARITY Act and the GENIUS Act. The hearing aims to inform future policy to enhance U.S. competitiveness in AI-driven financial technology.