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AI Innovation in Finance: Safe Testing of New Services

This act establishes "AI Innovation Labs" within financial agencies. These labs will allow financial companies to test new AI-powered products and services without immediate penalties for minor regulatory non-compliance. This aims to accelerate the development of modern financial solutions that can improve access to services and transaction security for citizens.
Key points
Financial companies can test new AI services in a controlled environment, potentially leading to faster innovation.
The goal is to improve access to financial services, enhance their efficiency, and increase security for consumers and investors.
Regulatory agencies will oversee these tests to ensure consumer protection and financial system stability.
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Introduced
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Additional Information
Print number: 119_HR_4801
Sponsor: Rep. Hill, J. French [R-AR-2]
Process start date: 2025-07-29
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Unleashing AI Innovation in Financial Services Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4801.

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 2025-07-29.

What are the main provisions?

Key points include:

  • Financial companies can test new AI services in a controlled environment, potentially leading to faster innovation.
  • The goal is to improve access to financial services, enhance their efficiency, and increase security for consumers and investors.
  • Regulatory agencies will oversee these tests to ensure consumer protection and financial system stability.
What is the specific legal status?

The current status is Introduced.

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. Hill, J. French [R-AR-2].

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 2025-12-23.

CATEGORIES

Economy Informatization