H.R. 8671 explained · 119th Congress · Pending in Congress
Bank Fraud Technology Advancement Act of 2026
Cosponsors: 1 (1 D, 0 R) · per Congress.gov, 2026-10-08
Introduced: 2026-05-07
Latest action (2026-06-18): Placed on the Union Calendar, Calendar No. 612.
What H.R. 8671 does, in plain terms
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.
Official summary by the Congressional Research Service, via Congress.gov.
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