PSI Sci

Before you vote › Federal bills

H.R. 8671: Bank Fraud Technology Advancement Act of 2026

119th Congress · introduced 2026-05-07 · Finance and Financial Sector · Latest: Placed on the Union Calendar, Calendar No. 612.

AI-relatedfederal

What does this mean?

Official title

Bank Fraud Technology Advancement Act of 2026

Plain summary

Bank Fraud Technology Advancement Act of 2026 This 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.

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

What a vote does

A “Yea” vote

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

A “Nay” vote

If it is not passed, current law stays as it is.

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

What does this mean? (plain words)

Official text

Bank Fraud Technology Advancement Act of 2026

Source: Congressional Research Service summary (Reported to House)

AI explanation – may be wrong, check the official text

No AI explanation yet. It takes up to a minute to write and is then saved for everyone.

Limited to a few requests an hour per person.

The strongest published arguments

Arguments for (supporters)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Arguments against (opponents)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

Officials and money

Sponsor: Rep. Flood, Mike [R-NE-1] · 1 cosponsors

Money: CBO cost estimate: H.R. 8671, the Bank Fraud Technology Advancement Act of 2026 (2026-09-29) No linked contracts or vendors yet.

Words on this page, explained (3)
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).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr8671 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills