,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #ajbfb  ,,9 ,,! ,,h\se ,,(         
,,repres5tatives  ,novemb] #bf1         
#bjbd,ms4 ,wat]s 7= h]self & ,mr4       
,mc,henry7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,f9ancial   
,s]vices  ,a ,,bill  ,to require !      
f9ancial regulators to c>ry out /udies  
on ! realiz$ & pot5tial b5efits (       
artificial intellig5ce1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,analysis & ,improvem5t    
,act ( #bjbd or ! ,,ai ,act ( #bjbd4    
#b4 ,/udy on ,,ai b5efits & risks by    
bank+ regulators  7a7 ,report requir$ ,n
 lat] ?an #ahj days aft] ! date ( !     
enactm5t ( ?is ,act1 ! ,bo>d ( ,gov]nors
 ( ! ,f$]al ,res]ve ,sy/em1 ! ,f$]al    
,deposit ,insurance ,corporation ,bo>d1 
! ,comptroll] ( ! ,curr5cy1 ! ,director 
( ! ,bureau ( ,consum] ,f9ancial        
,protection1 & ! ,national ,cr$it ,union
 ,adm9i/ration ,bo>d %all submit to !   
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  

on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate1 & publi% publicly1 a report t   
exam9es-- 7#a7 realiz$ & pot5tial       
b5efits & risks ( ,,ai te*nology1       
includ+-- 7,a7 bank+ in/itutions' use ( 
,,ai = cu/om] s]vice2  7,b7 bank+       
in/itutions' use ( ,,ai 9 loan und]writ+
 & s]vic+2  7,c7 bank+ in/itutions' use 
( ,,ai 9 home valuation2  7,d7 bank+    
in/itutions' use ( ,,ai to detect & det]
 fraud1 money laund]+1 cyb]crime1 & o!r 
illicit activity2  7,e7 ! use ( ,,ai 9  
debt collection1 includ+ =eclosures2    
7,f7 bank+ in/itutions' use ( ,,ai =    
int]nal processes & compliance          
proc$ures1 includ+ = compliance ) ,f$]al
 fair l5d+ laws2  7,g7 h[ a v>iety (    
small] bank+ in/itutions1 includ+       
community banks1 cr$it unions1 rural    
depository in/itutions1 m9ority         
depository in/itutions1 & community     
developm5t f9ancial in/itutions1 c      
lev]age ! b5efits ( ,,ai te*nology2     
7,h7 bank+ in/itutions' use ( ,,ai to   
mitigate bias & discrim9ation & increase

 bank+ s]vices to hi/orically und]s]v$ &
 und]bank$ consum]s2  7,i7 bank+        
in/itutions' use ( ,,ai to enhance      
cyb]security risk managem5t2  7,j7 ! use
 ( ,,ai to enhance competitiv5ess among 
bank+ in/itutions ( all sizes2  7,k7 !  
use ( ,,ai1 includ+ = ! purposes        
describ$ 9 subp>agraphs 7,a7 ?r\gh 7,j71
 by nonbank f9ancial te*nology firms2 & 
7,l7 any o!r use cases su* ag5cy heads  
det]m9e appropriate2  7#b7 /atues1      
regulations1 & ag5cy guidance1 or ! lack
 !re(1 impact+ ! developm5t & ! use (   
,,ai by entities regulat$ by su*        
ag5cies2  7#c7 curr5t use cases ( ,,ai  
by su* ag5cies = sup]vision1 & o!r areas
 :]e ,,ai applications w\ld be uniquely 
suit$ b are n curr5tly be+ deploy$2 &   
7#d7 any *all5ges su* ag5cies h 9       
lev]ag+ ,,ai & hir+ & reta9+ /aff )     
exp]tise 9 ,,ai te*nology & pot5tial    
solutions to ov]come su* *all5ges4  7b7 
,recomm5dations ,! report requir$ "u    
subsection 7a7 %all include regulatory  
proposals & legislative recomm5dations t

 facilitate ! responsible adoption (    
,,ai )9 ! f9ancial s]vices indu/ry4  7c7
 ,public input ,! ag5cy heads describ$  
"u subsection 7a7 %all publi% a reque/ =
 in=mation to collect public input to   
in=m ! draft+ ( ! report requir$ "u     
subsection 7a74  7d7 ,bank+ in/itution  
def9$ ,9 ?is section1 ! t]m bank+       
in/itution means a depository in/itution
 7z def9$ 9 section #c ( ! ,f$]al       
,deposit ,insurance ,act7 & a ,/ate     
cr$it union or a ,f$]al cr$it union 7z  
su* t]ms are def9$1 respectively1 "u    
section #aja ( ! ,f$]al ,cr$it ,union   
,act74  #c4 ,/udy on ,,ai b5efits &     
risks by ! ,securities & ,ex*ange       
,commission  7a7 ,report requir$ ,n lat]
 ?an #ahj days aft] ! date ( ! enactm5t 
( ?is ,act1 ! ,securities & ,ex*ange    
,commission %all submit to ! ,committee 
on ,f9ancial ,s]vices ( ! ,h\se (       
,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate1 & publi% publicly1 a report t   
exam9es-- 7#a7 realiz$ & pot5tial       

b5efits & risks ( ,,ai te*nology1       
includ+-- 7,a7 m>ket p>ticipants' use ( 
,,ai = m>ket rese>*1 exam9+ ! diff]5ce  
betwe5 public & private m>kets2  7,b7   
m>ket p>ticipants' use ( ,,ai =         
portfolio managem5t2  7,c7 ex*anges' use
 ( ,,ai = m>ket surveillance1 fraud     
detection1 & ord] placem5ts2 &  7,d7 any
 o!r use cases ! ,commission det]m9es   
appropriate2  7#b7 /atues1 regulations1 
& ag5cy guidance1 or ! lack !re(1       
impact+ developm5t & use ( ,,ai2  7#c7  
curr5t use cases ( ,,ai by ! ,commission
 9 sup]vision & o!r areas :]e ,,ai      
applications w\ld be uniquely suit$ b   
are n curr5tly be+ deploy$2 &  7#d7 any 
*all5ges ! ,commission has 9 lev]ag+    
,,ai & 9 hir+ or reta9+ /aff ) exp]tise 
9 ,,ai te*nology & pot5tial solutions to
 ov]come su* *all5ges4  7b7             
,recomm5dations ,! report requir$ "u    
subsection 7a7 %all include regulatory  
proposals & legislative recomm5dations t
 facilitate ! responsible adoption (    
,,ai )9 ! f9ancial s]vices indu/ry4  7c7

 ,public input ,! ,commission %all--    
7#a7 publi% a reque/ = in=mation to     
collect public input to in=m ! draft+ ( 
! report requir$ "u subsection 7a72 &   
7#b7 consult ) self-regulatory          
organizations to in=m ! draft+ ( !      
report "u subsection 7a74  #d4 ,/udy on 
,,ai b5efits & risks by h\s+ & mortgage 
regulators  7a7 ,report requir$ ,n lat] 
?an #ahj days aft] ! date ( ! enactm5t (
 ?is ,act1 ! ,secret>y ( ,h\s+ & ,urban 
,developm5t1 ! ,adm9i/rator ( ! ,rural  
,h\s+ ,s]vice ( ! ,dep>tm5t (           
,agriculture1 ! ,director ( ! ,f$]al    
,h\s+ ,f9ance ,ag5cy1 & ! ,director ( ! 
,bureau ( ,consum] ,f9ancial ,protection
 %all submit to ! ,committee on         
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate1 & publi% publicly1 a report t   
exam9es-- 7#a7 realiz$ & pot5tial       
b5efits & risks ( ,,ai te*nology1       
includ+-- 7,a7 ! use ( ,,ai to create   
effici5cies = homebuy]s 9 evaluat+1     

comp>+1 & obta9+ a mortgage loan & 9    
su/a9+ _! home[n]%ip ov] "t2  7,b7 ! use
 ( ,,ai to enhance ! accuracy1          
effici5cy1 & fairness ( cr$it decisions1
 p>ticul>ly = homebuy]s 9 und]s]v$      
communities2  7,c7 ! use ( ,,ai to      
enhance ! effectiv5ess ( risk managem5t 
& compliance )9 ! h\s+ f9ance sy/em1    
includ+ = compliance ) ,f$]al fair l5d+ 
laws2  7,d7 ! use ( ,,ai by real e/ate  
ag5ts2  7,e7 ! use ( ,,ai 9 ! m>ket+ &  
outrea* to retail cu/om]s reg>d+ h\s+   
products2  7,f7 ! use ( ,,ai 9 prop]ty  
managem5t2  7,g7 ! use ( ,,ai by        
l&lords2  7,h7 ! use ( ,,ai by onl9e    
h\s+ plat=ms2  7,i7 ! use ( ,,ai by     
mortgage s]vic]s2  7,j7 ! use ( ,,ai 9  
mortgage und]writ+ & s]vic+2 &  7,k7 any
 o!r use cases su* ag5cy heads det]m9e  
appropriate2  7#b7 /atues1 regulations1 
& ag5cy guidance1 or ! lack !re(1       
impact+ developm5t & implem5tation (    
,,ai2  7#c7 curr5t use cases ( ,,ai by  
su* ag5cies 9 sup]vision & o!r areas :]e
 ,,ai applications w\ld be uniquely     

suit$ b are n curr5tly be+ deploy$2 &   
7#d7 any *all5ges su* ag5cies h 9       
lev]ag+ ,,ai & hir+ or reta9+ /aff )    
exp]tise 9 ,,ai te*nology & pot5tial    
solutions to ov]come su* *all5ges4  7b7 
,recomm5dations ,! report requir$ "u    
subsection 7a7 %all include regulatory  
proposals & legislative recomm5dations t
 facilitate ! responsible adoption (    
,,ai )9 ! h\s+ indu/ry & ! h\s+ f9ance  
indu/ry4  7c7 ,public input ,! ag5cy    
heads describ$ "u subsection 7a7 %all   
publi% a reque/ = in=mation to collect  
public input to in=m ! draft+ ( ! report
 requir$ "u subsection 7a74  #e4 ,/udy  
on ,,ai b5efits & risks 9 secur+ !      
,u4,s4 f9ancial sy/em f national        
security ?reats  7a7 ,report requir$ ,n 
lat] ?an #ahj days aft] ! date ( !      
enactm5t ( ?is ,act1 ! ,secret>y ( !    
,treasury %all submit to ! ,committee on
 ,f9ancial ,s]vices ( ! ,h\se (         
,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate1 & publi% publicly1 a report t   

exam9es-- 7#a7 realiz$ & pot5tial       
b5efits & risks ( ,,ai te*nology1       
includ+-- 7,a7 ! use ( ,,ai by f9ancial 
in/itutions 7z def9$ 9 section #ecab7;a7
 ( title #ca1 ,unit$ ,/ates ,code7 to   
meet ! in/itutions' obligations "u !    
,bank ,secrecy ,act & sanctions laws2 & 
7,b7 ! use ( ,,ai by f9ancial           
in/itutions to protect aga9/            
cyb]security ?reats & to respond to     
cyb]security attacks2  7#b7 /atues1     
regulations1 & ag5cy guidance impact+   
developm5t & use ( ,,ai by f9ancial     
in/itutions to comply ) ! ,bank ,secrecy
 ,act & sanctions laws2  7#c7 curr5t use
 cases ( ,,ai by ! ,dep>tm5t ( !        
,treasury & areas :]e ,,ai applications 
w\ld be uniquely suit$ b are n curr5tly 
be+ deploy$2 &  7#d7 any *all5ges !     
,dep>tm5t ( ,treasury has 9 lev]ag+ ,,ai
 & hir+ or reta9+ /aff ) exp]tise 9 ,,ai
 te*nology & pot5tial solutions to      
ov]come su* *all5ges4  7b7              
,recomm5dations ,! report requir$ "u    
subsection 7a7 %all include regulatory  

proposals & legislative recomm5dations t
 facilitate ! responsible adoption (    
,,ai )9 ! f9ancial s]vices indu/ry4  7c7
 ,public input  7#a7 ,! ,secret>y %all  
publi% a reque/ = in=mation to collect  
public input to in=m ! draft+ ( ! report
 requir$ "u subsection 7a74  7#b7 ,!    
,secret>y %all consult ) ! ,bo>d (      
,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 !  
,f$]al ,deposit ,insurance ,corporation 
,bo>d1 ! ,comptroll] ( ! ,curr5cy1 !    
,director ( ! ,bureau ( ,consum]        
,f9ancial ,protection1 & ! ,national    
,cr$it ,union ,adm9i/ration ,bo>d to    
in=m ! draft+ ( ! report requir$ "u     
subsection 7a74  #f4 ,def9itions ,9 ?is 
,act3 7#a7 ,,ai ,! t]m ,,ai has ! mean+ 
giv5 ! t]m artificial intellig5ce "u    
section #ejjb ( ! ,national ,artificial 
,intellig5ce ,initiative ,act ( #bjbj   
7#ae ,u4,s4,c4 #idja74  7#b7 ,bank      
,secrecy ,act ,! t]m ,bank ,secrecy ,act
 means-- 7,a7 section #ba ( ! ,f$]al    
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahbi;b72  7,b7 *apt] #b ( title ,i (   

,public ,law #ia-ejh 7#ab ,u4,s4,c4     
#aiea et seq472 &  7,c7 sub*apt] ,,ii ( 
*apt] #ec ( title #ca1 ,unit$ ,/ates    
,code4