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H.R. 8278119th CongressPlaced on the calendarLatest action Jun 24, 2026Decoded by AI · checked against the record
Official title: Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
Federal financial regulators would have to review and upgrade their bank-supervision technology, then report to Congress within 18 months.
45-second read · 4 questions answered below
The bill requires major financial regulatory agencies to evaluate whether their current technology can effectively supervise banks in real time. It also requires them to review how they buy or build new technology and find ways to speed up that process. Agencies must jointly report findings to Congress within 18 months and update the report every five years.
Affects the Federal Reserve, Consumer Financial Protection Bureau, FDIC, Treasury Department (including the Comptroller of the Currency and FinCEN), Federal Housing Finance Agency, and National Credit Union Administration. Banks, credit unions, and consumers could see indirect effects.
Outdated regulatory technology may limit agencies' ability to detect financial risks, fraud, or money laundering in real time. Banks may eventually face changes to how they report information to regulators as systems are updated.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it was placed on the House floor calendar, 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. 617.