Bill would create AI test labs at federal financial regulators
Placed on the calendarH.R. 4801Latest action
Sponsor: J. French Hill · Representative · AR
AIDecoded by AI · checked against the recordRead the official text
Official title: Unleashing AI Innovation in Financial Services Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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Financial regulators would run "AI Innovation Labs" letting companies test AI products without normal enforcement for at least a year.
50-second read · 4 questions answered below
What does this do?
The bill would require agencies like the Federal Reserve, FDIC, SEC, CFPB, NCUA, and Federal Housing Finance Agency to create "AI Innovation Labs." Approved companies could test AI-driven financial products without full regulatory compliance during a test period of at least one year, while proposing alternative ways to follow the rules' intent. The bill also sets application review timelines, appeal processes, and requires public regulations and annual reports on the labs.
Who does it affect?
Banks, credit unions, investment firms, and fintech companies seeking to test AI products would be directly affected, as would the financial regulatory agencies themselves. Consumers and investors could indirectly encounter AI-based products released under this more flexible oversight.
Why does it matter?
Regulators would still be able to sue to halt a test immediately over serious risks to consumers, the financial system, national security, or money laundering, and fraud remains punishable. Agencies would need to build new offices, review systems, and reporting processes to administer the labs.
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Where does it stand?
- IntroducedJul 29, 2025
- House committee
- House voteYou are here · Jun 24, 2026
- Senate
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Placed on the Union Calendar, Calendar No. 619.