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AI Analysis and Improvement in Financial and Housing Services

This act requires financial and housing agencies to study how artificial intelligence (AI) is being and can be used. The goal is to understand AI's benefits and risks to ensure its responsible use. Citizens will have the opportunity to provide input on these changes.
Key points
Banking, securities, and housing agencies will examine how AI impacts customer service, loan approvals, fraud detection, and other processes.
Study reports will include proposals on how to best use AI in finance and housing while protecting consumers.
Citizens will be able to submit their comments and ideas regarding the use of AI in the financial and housing sectors.
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Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_10262
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2024-11-26
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

AI Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10262.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-11-26.

What are the main provisions?

Key points include:

  • Banking, securities, and housing agencies will examine how AI impacts customer service, loan approvals, fraud detection, and other processes.
  • Study reports will include proposals on how to best use AI in finance and housing while protecting consumers.
  • Citizens will be able to submit their comments and ideas regarding the use of AI in the financial and housing sectors.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Waters, Maxine [D-CA-43].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy Real Estate Informatization