Mike Flood (R-NE)
Bank Fraud Technology Advancement Act of 2026
A Republican bill with 1 Democratic cosponsor · See the cosponsor
Last activity — Placed on the Union Calendar, Calendar No. 612.
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
The Bank Fraud Technology Advancement Act of 2026 requires Federal banking agencies to conduct a comprehensive study on how insured depository institutions and credit unions use advanced fraud detection technologies. This study focuses on the effectiveness of tools like artificial intelligence and machine learning in detecting and preventing financial fraud. It specifically looks at the challenges faced by community financial institutions in accessing these technologies. The agencies are also tasked with evaluating information sharing, payment system risks, and regulatory considerations. Following the study, a report must be issued to Congress and made public. Additionally, the bill allows for the establishment of a voluntary pilot program to help smaller financial institutions access advanced fraud detection tools.
Yes· 3 of 6
- Scored +6
Does this make it easier to run a small business?
The bill establishes a study and a potential pilot program specifically to help community financial institutions access advanced fraud detection tools.
- Scored +5
Does this give people more protection from unfair business practices?
The bill aims to enhance fraud detection and prevention through advanced technologies to protect consumers from scams.
- Scored +5
Would business owners be better off under this?
The bill provides support for owners of community financial institutions to access sophisticated fraud prevention tools.
The opposite
- Scored -2
Does this protect people from being watched or searched?
The bill notes that expanded data sharing and information-sharing frameworks must consider potential privacy and data protection concerns.
Who it would affect, and how
Potential Positive Impacts for People
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Improved Fraud Detection and Prevention: The study evaluates the effectiveness of technologies like artificial intelligence and machine learning in detecting fraud patterns, anomalies, and real-time payment fraud, which can lead to loss reduction and better consumer protection (Section 3(b)(1) and Section 3(b)(3)).
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Support for Community Financial Institutions: The bill seeks to identify challenges faced by smaller institutions and looks for ways to facilitate access to advanced tools through shared services or managed-service providers (Section 3(b)(2)).
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Enhanced Information Sharing: The study examines the effectiveness of public-private partnerships and the feasibility of fraud analytics consortiums to enhance detection capabilities (Section 3(b)(4)).
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Potential Pilot Programs for Small Institutions: The bill allows for a voluntary pilot program to help institutions with less than $10,000,000,000 in total consolidated assets access advanced fraud detection tools through models like pooled procurement or technical support (Section 4(a) and Section 4(b)).
Potential Negative Impacts for People
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Privacy and Data Security Risks: The bill notes that expanded data sharing and information-sharing frameworks must consider potential privacy, data protection, and cybersecurity concerns (Section 3(b)(4)).
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Payments System Risks: The study must address potential fraud risks associated with electronic funds transfers and checks, as well as the need to maintain settlement finality and payment system stability (Section 3(b)(5)).
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.
- Economy And Finance
- Does this make it easier to run a small business? — The bill establishes a study and a potential pilot program specifically to help community financial institutions access advanced fraud detection tools. Does this give people more protection from unfair business practices? — The bill aims to enhance fraud detection and prevention through advanced technologies to protect consumers from scams.
- Demographic And Interest Groups
- Would business owners be better off under this? — The bill provides support for owners of community financial institutions to access sophisticated fraud prevention tools.
- National Security And Foreign Policy
- Does this better protect the country from computer attacks? — The bill focuses on using advanced technologies like AI and machine learning to detect and prevent financial fraud and cybersecurity risks.
- Education And Technology
- Does this put more money into scientific research? — The bill promotes the practical application of AI and machine learning technologies within the financial sector through federal study and pilot programs.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill requires that the findings of the study and the results of any pilot programs be made publicly available. Does this protect people from being watched or searched? — The bill notes that expanded data sharing and information-sharing frameworks must consider potential privacy and data protection concerns.
- 6/18/2026
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-704.
- Placed on the Union Calendar, Calendar No. 612.
- 5/13/2026
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 1.
- 5/12/2026
- 1 Cosponsor added.
- 5/7/2026
- Referred to the House Committee on Financial Services.
- Introduced in House
Brittany PettersenDemocrat · Colorado