Federal banking regulators — including the FDIC, Federal Reserve, OCC, and National Credit Union Administration — would be required to study how banks and credit unions use artificial intelligence and other advanced technology to catch fraud and scams, with a special focus on smaller community banks and credit unions. Within 18 months, the agencies must send Congress a public report on what's working, what barriers smaller institutions face in affording this technology, and any recommended changes to law or regulation. After that report, regulators could launch a voluntary three-year pilot program letting banks and credit unions with under $10 billion in assets share fraud-detection tools, pool resources, and get technical support. The pilot program would automatically expire on a set schedule and require a final public report on its results.
Transparency & Accountability
- Federal reporting requirement — Banking agencies must report study findings and recommendations to Congress within 18 months, made public
- Pilot-program sunset — Any pilot program expires no later than 3 years after the study report, with a required follow-up public report
Congressional Summary
Bank Fraud Technology Advancement Act of 2026This bill directs federal banking agencies (the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the National Credit Union Administration) to jointly study and report on the use of advanced fraud detection technology by insured depository institutions and credit unions.The study must evaluate, among other topics, the current use and effectiveness of this technology, access by community financial institutions to such technology, and the use and governance of artificial intelligence and machine learning in detecting fraud.Federal banking agencies must report all findings, determinations, and legislative recommendations to the appropriate congressional committees and make the report publicly available.The bill also allows federal banking agencies to jointly establish a temporary pilot program to facilitate community financial institution access to advanced fraud detection tools for small insured depository institutions and credit unions.
Legislative Subjects
Details
- Congress
- 119th
- Chamber
- House
- Status
- summarized
- Action
- Reported to House
- Action Date
- 2026-06-18
- Date Added
- 2026-07-11
- Source
- Congress.gov →
Like reading a bill in plain English?
We're building an app that does this for every bill in Congress and lets you tell your reps how you want them to vote. We're a small team getting ready to launch, and we're trying to show investors that real people want this. Be one of them. Help us get it built. Leave your email and we'll tell you the moment the app is ready.