December 13, 2024

New House AI Bills for The Financial Services Sector

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AI remains a key focus for US lawmakers and regulators, with new legislative efforts aiming to address AI-related challenges and bolster the nation’s leadership in innovation.
Two bipartisan House bills, H.R. 1600 and H.R. 10262, have been introduced to enhance the government’s AI response under 15 USC Ch. 119 and Executive Order 14110.
H.R. 1600 tasks the House Committee on Financial Services (HFSC) with leading AI adoption in the financial sector.
H.R. 10262, the “Analysis and Improvement Act of 2024,” directs federal regulators to study AI’s benefits and risks across banking, investments, housing, and financial crimes.
The bipartisan effort, led by HFSC leaders Rep. Patrick McHenry (R) and Rep. Maxine Waters (D), highlights rare unity on AI issues despite differing views on other matters.
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