J. Hill (R-AR)
Unleashing AI Innovation in Financial Services Act
A Republican bill with 2 Democratic cosponsors · See all 3 cosponsors
Last activity — Placed on the Union Calendar, Calendar No. 619.
Cleared committee, waiting for its first floor vote
A committee approved it and it is on the calendar of the chamber it started in.
This is further than most bills get, and still no promise of a vote: the calendar is a queue, and the majority leadership decides what is called. A bill can sit here until the Congress ends.
Its path through Congress
- Introduced
- On Calendar
What this bill would do
This bill, known as the "Unleashing AI Innovation in Financial Services Act," seeks to create AI Innovation Labs within financial regulatory agencies. These labs allow regulated entities to conduct AI test projects through alternative compliance strategies. By submitting an application, these entities can experiment with artificial intelligence without the expectation of certain enforcement actions. The goal is to foster innovation and efficiency in financial products and services. The act establishes specific application requirements, review timelines, and interagency coordination procedures.
Yes· 3 of 11
- Scored +6
Would business owners be better off under this?
The bill allows businesses to experiment with AI and alternative compliance strategies to enhance efficiency and competitiveness.
- Scored +5
Is this likely to grow the economy?
The bill fosters innovation and competitiveness by allowing financial entities to experiment with AI technologies through dedicated innovation labs.
- Scored +4
Does this put more money into scientific research?
The bill encourages the practical application and development of artificial intelligence technologies within the financial sector.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Innovation and Efficiency: The establishment of AI Innovation Labs is intended to enable regulated entities to experiment with AI test projects to enhance efficiency, operations, and competitiveness (Section 3; Section 4(a)(2)(C)(ii)).
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Improved Access and Protection: AI test projects may be used to improve consumer or investor access to financial products or services, or to promote consumer or investor protection (Section 4(a)(2)(C)(i)).
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Enhanced Risk Management: The application process requires entities to propose ways to effectively manage risks, including cybersecurity risks, through their alternative compliance strategies (Section 4(a)(2)(B)(ii)).
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Regulatory Compliance: The bill aims to allow for the use of artificial intelligence to enhance regulatory compliance practices (Section 3).
Potential Negative Impacts for People
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Potential Risks to Financial Stability: The bill notes that AI test projects must be reviewed to ensure they do not present a systemic risk to the financial system of the United States or a significant risk of loss to the Deposit Insurance Fund or the National Credit Union Share Insurance Fund (Section 4(a)(2)(C)(iii)).
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Potential National Security or Money Laundering Risks: Applications must demonstrate that the project is consistent with anti-money laundering and countering the financing of terrorism obligations and does not present a national security risk to the United States (Section 4(a)(2)(C)(iv)-(v)).
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Risk of Immediate Danger: Financial regulatory agencies retain the authority to seek injunctive relief through a civil action if an active AI test project is determined to present an immediate danger to consumers, investors, financial markets, or national security (Section 4(a)(3)(C)(iii)).
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Unmitigable Harm: Agencies may issue administrative orders to cease an AI test project if they determine the activity is causing unmitigable or irreparable harm to consumers, investors, or financial stability (Section 4(a)(3)(C)(iv)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — The bill allows businesses to experiment with AI and alternative compliance strategies to enhance efficiency and competitiveness. Would high-income households be better off under this? — The bill promotes innovation in financial services which often benefits high-income investors and market participants. Would households on low incomes be better off under this? — Improved access to financial products and services through AI innovation could benefit low-income consumers. Would middle-income households be better off under this? — Enhanced efficiency in financial services may lead to better consumer access and improved financial products. Would people in cities be better off under this? — Increased efficiency in financial services can positively impact urban financial markets and consumer access.
- Economy And Finance
- Is this likely to grow the economy? — The bill fosters innovation and competitiveness by allowing financial entities to experiment with AI technologies through dedicated innovation labs. Does this make it easier to run a small business? — The establishment of AI Innovation Labs provides a pathway for regulated entities to implement more efficient and competitive business models. Does this give people more protection from unfair business practices? — The bill includes requirements that AI test projects must serve the public interest and promote consumer or investor protection.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill requires agencies to submit annual reports to Congress regarding the outcomes and trends of AI test projects. Does this give the federal government more power? — The bill expands the regulatory role of financial agencies by establishing new AI Innovation Lab oversight structures.
- Education And Technology
- Does this put more money into scientific research? — The bill encourages the practical application and development of artificial intelligence technologies within the financial sector.
- 6/24/2026
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-713.
- Placed on the Union Calendar, Calendar No. 619.
- 5/13/2026
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 19.
- 7/29/2025
- Referred to the House Committee on Financial Services.
- 3 Cosponsors added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Josh GottheimerDemocrat · New Jersey
Bryan SteilRepublican · Wisconsin
Ritchie TorresDemocrat · New York