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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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Status: Expired
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Additional Information
Print number: 118_HR_10262
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2024-11-26
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Real Estate Informatization