H.R. 8671 · On the floor · Finance and Financial Sector

Bank Fraud Technology Advancement Act of 2026

What it does

Direct federal banking agencies to jointly study and report on use of advanced fraud detection technology by insured depository institutions and credit unions.
Require the study to evaluate current use and effectiveness of fraud detection technology, access by community financial institutions, and governance of artificial intelligence and machine learning in fraud detection.
Authorize federal banking agencies to jointly establish a temporary pilot program to provide community financial institutions access to advanced fraud detection tools.
Mandate federal banking agencies to report findings and legislative recommendations to congressional committees and make the report publicly available.

Official summary

Bank Fraud Technology Advancement Act of 2026 This bill directs federal banking agencies (the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the National Credit Union Administration) to jointly study and report on the use of advanced fraud detection technology by insured depository institutions and credit unions. The study must evaluate, among other topics, the current use and effectiveness of this technology, access by community financial institutions to such technology, and the use and governance of artificial intelligence and machine learning in detecting fraud. Federal banking agencies must report all findings, determinations, and legislative recommendations to the appropriate congressional committees and make the report publicly available. The bill also allows federal banking agencies to jointly establish a temporary pilot program to facilitate community financial institution access to advanced fraud detection tools for small insured depository institutions and credit unions.

Latest action

Jun 18, 2026: Placed on the Union Calendar, Calendar No. 612.

Committee: House Financial Services