Senate introduces bill regarding AI use in financial services
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Senator Shelley Moore Capito introduced the Unleashing AI Innovation in Financial Services Act. The bill would direct federal agencies that oversee financial institutions to create frameworks for how those companies can use artificial intelligence.
Why it matters: This is an early-stage legislative attempt to provide more formal guidance for financial institutions using AI; its practical impact depends entirely on whether it passes through committee and becomes law.
Who it affects
- Financial institutions and banks
This information comes from Congress.gov regarding a Senate bill; please consult the official text before relying on this information.
Agency: Senate
Source: Congress.gov — read the official document