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H.R. 4801: Unleashing AI Innovation in Financial Services Act

119th Congress · introduced 2025-07-29 · Finance and Financial Sector · Latest: Placed on the Union Calendar, Calendar No. 619.

AI-relatedfederal

What does this mean?

Official title

Unleashing AI Innovation in Financial Services Act

Plain summary

Unleashing AI Innovation in Financial Services Act This bill allows regulated financial entities to test artificial intelligence (AI) projects under waived or modified regulations upon the approval of an application by the appropriate federal financial regulatory agency. These agencies must establish AI innovation labs to enable such projects. Under the bill, regulated entities may engage in AI test projects associated with financial products, services, or activities. Regulated entities must apply to the appropriate agency with a description and proposed duration of the AI test project, propose an alternative compliance strategy, and explain how the AI test project serves the public interest and does not present certain risks. The alternative compliance strategy must include several elements, such as (1) identifying a regulation issued by an agency that the regulated entity requests to be waived or modified and (2) proposing an alternative method of compliance with the regulation's underlying statute. Upon approval, the agency may only enforce such a regulation according to the agreement. The bill also provides for agency review of such applications, establishes procedures for entities that are subject to regulation by multiple agencies, and allows agencies to file for injunctive relief if an AI test project presents certain risks or dangers.

Congressional Research Service summary (Reported to House), quoted unchanged (nonpartisan). Read the source.

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If it passes both chambers and is signed, it becomes law.

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Unleashing AI Innovation in Financial Services Act

Source: Congressional Research Service summary (Reported to House)

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Officials and money

Sponsor: Rep. Hill, J. French [R-AR-2] · 3 cosponsors

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Words on this page, explained (4)
Appropriation
Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Artificial intelligence (AI)
Computer systems that do tasks that usually need human judgment, such as recognizing images, understanding language or making predictions. Laws about AI often cover how it is used, tested, disclosed or limited.
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Statute
A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr4801 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills