,,iv ,house ,calendar ,no4 #fg #aaith ,,congress #b;d ,session ,h4 ,,res4 #ajjg ,report ,no4 #aai-eei ,,in ,,the ,,house ,,of ,,representatives ,january #af1 #bjbf ,mr4 ,steil 7for himself and ,mr4 ,lynch7 submitted the following resolution2 which was referred to the ,committee on ,financial ,services ,march #ai1 #bjbf ,additional sponsors3 ,mr4 ,liccardo and ,mr4 ,downing ,march #ai1 #bjbf ,reported with amendments1 referred to the ,house ,calendar1 and ordered to be printed ,strike the preamble and insert the part printed in italic ,strike out all after the resolving clause and insert the part printed in italic ,,resolution ,expressing the sense of the ,house of ,representatives with respect to the use of artificial intelligence in the financial services and housing industries4 ,whereas generative artificial intelligence 7,,ai7 has the potential to provide significant opportunities as well as risks across the financial services and housing industries2 ,whereas ,,ai is playing a significant role in the financial services and housing industries and continues to be adopted in various forms2 ,whereas regulatory agencies should expand knowledge of governance and regulatory best practices with respect to ,,ai2 ,whereas the ,united ,states capital markets market participants are leveraging ,,ai to enhance research capabilities1 market surveillance1 and trading and execution2 ,whereas the ,united ,states housing market participants are using ,,ai to enhance underwriting1 mortgage servicing1 and tenant screening2 ,whereas ,united ,states financial institutions are exploring the use of ,,ai to enhance customer service capabilities1 expand the pool of loan applicants1 increase repayment rates1 and decrease fraudulent payments2 ,whereas ,united ,states financial firms are leveraging ,,ai to streamline compliance with the ,bank ,secrecy ,act and sanctions laws as well as enhance cybersecurity operations from evolving threats2 ,whereas the use of generative ,,ai is enhancing both employee productivity and consumer experiences across the financial services and housing industries2 ,whereas regulators should understand any financial stability risks related to financial institutions' growing use of ,,ai1 including whether such use increases herding behavior2 ,whereas ,,ai can be exploited by malicious actors2 ,whereas the use of ,,ai in automated decision-making does not relieve financial institutions from their obligations under anti-discrimination laws1 and may lead to explainability challenges due to the complexity and opacity of certain ,,ai models2 ,whereas small community financial institutions1 such as rural depository institutions1 minority depository institutions1 and community development financial institutions may lack the resources to develop1 train1 and deploy ,,ai models compared to larger institutions2 ,whereas financial institutions' use of ,,ai may increase their direct and indirect reliance on third-party services2 and ,whereas ,,ai has the potential of unlocking valuable new use cases for financial services and housing under risk-based guardrails3 ,now1 therefore1 be it ,whereas generative artificial intelligence 7,,ai7 has the potential to provide significant opportunities as well as risks across the financial services and housing industries2 ,whereas ,,ai is playing a significant role in the financial services and housing industries and continues to be adopted in various forms2 ,whereas regulatory agencies should expand knowledge of governance and regulatory best practices with respect to ,,ai2 ,whereas the ,united ,states capital markets market participants are leveraging ,,ai to enhance research capabilities1 market surveillance1 and trading and execution2 ,whereas the ,united ,states housing market participants are using ,,ai to enhance underwriting1 mortgage servicing1 and tenant screening2 ,whereas ,united ,states financial institutions are exploring the use of ,,ai to enhance customer service capabilities1 expand the pool of loan applicants1 increase repayment rates1 and decrease fraudulent payments2 ,whereas ,united ,states financial firms are leveraging ,,ai to streamline compliance with the ,bank ,secrecy ,act and sanctions laws as well as enhance cybersecurity operations from evolving threats2 ,whereas the use of generative ,,ai is enhancing both employee productivity and consumer experiences across the financial services and housing industries2 ,whereas regulators should understand any financial stability risks related to financial institutions' growing use of ,,ai1 including whether such use increases herding behavior2 ,whereas ,,ai can be exploited by malicious actors2 ,whereas the use of ,,ai in automated decision-making does not relieve financial institutions from their obligations under anti-discrimination laws1 and may lead to explainability challenges due to the complexity and opacity of certain ,,ai models2 ,whereas small community financial institutions1 such as rural depository institutions1 minority depository institutions1 and community development financial institutions may lack the resources to develop1 train1 and deploy ,,ai models compared to larger institutions2 ,whereas financial institutions' use of ,,ai may increase their direct and indirect reliance on third-party services2 and ,whereas ,,ai has the potential of unlocking valuable new use cases for financial services and housing under risk-based guardrails3 ,now1 therefore1 be it ,that it is the sense of the ,house of ,representatives that-- 7#a7 given the critical role of the financial and housing markets1 the ,committee on ,financial ,services of the ,house of ,representatives should play a leading role in making public policy regarding the adoption of ,,ai in the financial services and housing industries2 7#b7 the ,committee on ,financial ,services should consider how to promote a dynamic1 pro-consumer1 pro-investor1 and pro-innovation culture for ,,ai across the financial services and housing industries2 7#c7 the ,committee on ,financial ,services must ensure regulators apply and enforce existing laws1 including anti-discrimination laws1 and assess regulatory gaps and ineffective regulations as market participants adopt ,,ai2 7#d7 the ,committee on ,financial ,services should support regulators assessing the impact on innovation and cost effectiveness before issuing ,,ai-related rules2 7#e7 the ,committee on ,financial ,services must ensure any regulatory framework related to ,,ai does not disproportionately burden smaller firms2 7#f7 the ,committee on ,financial ,services should ensure the financial regulators have the appropriate focus and tools to oversee new products and services2 7#g7 the ,committee on ,financial ,services should continue to evaluate ,state laws and consider reforms to privacy laws for financial institutions and firms given the importance of financial data to ,,ai2 7#h7 the ,committee on ,financial ,services should continue to consider how to strengthen cybersecurity standards for ,,ai systems2 7#i7 the ,committee on ,financial ,services should work with financial regulators to understand ,,ai's impact on the workforce2 7#aj7 the ,committee on ,financial ,services should ensure ,united ,states global leadership on ,,ai development and use2 and 7#aa7 the ,committee on ,financial ,services should safeguard taxpayer interests as emerging technologies continue to evolve4 ,that it is the sense of the ,house of ,representatives that-- 7#a7 given the critical role of the financial and housing markets1 the ,committee on ,financial ,services of the ,house of ,representatives should play a leading role in making public policy regarding the adoption of ,,ai in the financial services and housing industries2 7#b7 the ,committee on ,financial ,services should consider how to promote a dynamic1 pro-consumer1 pro-investor1 and pro-innovation culture for ,,ai across the financial services and housing industries2 7#c7 the ,committee on ,financial ,services must ensure regulators apply and enforce existing laws1 including anti-discrimination laws1 and assess regulatory gaps and ineffective regulations as market participants adopt ,,ai2 7#d7 the ,committee on ,financial ,services should support regulators assessing the impact on innovation and cost effectiveness before issuing ,,ai-related rules2 7#e7 the ,committee on ,financial ,services must ensure any regulatory framework related to ,,ai does not disproportionately burden smaller firms2 7#f7 the ,committee on ,financial ,services should ensure the financial regulators have the appropriate focus and tools to oversee new products and services2 7#g7 the ,committee on ,financial ,services should continue to evaluate ,state laws and consider reforms to privacy laws for financial institutions and firms given the importance of financial data to ,,ai2 7#h7 the ,committee on ,financial ,services should continue to consider how to strengthen cybersecurity standards for ,,ai systems2 7#i7 the ,committee on ,financial ,services should work with financial regulators to understand ,,ai's impact on the workforce2 7#aj7 the ,committee on ,financial ,services should ensure ,united ,states global leadership on ,,ai development and use2 and 7#aa7 the ,committee on ,financial ,services should safeguard taxpayer interests as emerging technologies continue to evolve4 ,march #ai1 #bjbf ,reported with amendments1 referred to the ,house ,calendar1 and ordered to be printed