House Financial Services Committee Advances AI Regulatory Framework with Multiple Bills

The House Financial Services Committee held a hearing on December 10, 2025, titled From Principles to Policy: Enabling 21st Century AI Innovation in Financial Services, examining the integration of artificial intelligence in financial services. The hearing featured testimony from key industry figures including Jeanette Manfra (Google Cloud), Tal Cohen (Nasdaq), Nicholas Stevens (Zillow), Wendi Whitmore (Palo Alto Networks), and Joshua Branch (Public Citizen).

The committee is advancing several pieces of legislation aimed at creating regulatory frameworks for AI in finance. The primary bill, H.R. 4801 (the Unleashing AI Innovation in Financial Services Act), proposes the creation of AI Innovation Labs within financial regulatory agencies. These labs would allow regulated entities to experiment with AI test projects without facing undue regulatory burdens or enforcement actions during the testing phase.

Additional legislation includes H.R. 2152 (the Artificial Intelligence PLAN Act), which requires the Treasury, Homeland Security, and Commerce secretaries to develop a strategy against AI-related financial crimes like fraud and misinformation. H.R. 1734 (the Preventing Deep Fake Scams Act) establishes a task force to examine AI's benefits and risks in financial services. Other discussion drafts include a resolution expressing support for AI in financial services and housing, the AI INSIGHT Act requiring a Treasury study on data sharing in regulatory sandboxes, and the FUTURES Act mandating regulators assess challenges from outdated supervisory technologies.

The American Fintech Council (AFC) has publicly endorsed this legislative approach. AFC CEO Phil Goldfeder praised the bills as "a thoughtful, bipartisan framework that gives regulators the tools they need," emphasizing AI's potential to make financial services "safer, more accessible, and more inclusive" while maintaining U.S. leadership in financial innovation. The legislation specifically involves multiple regulatory agencies including the Federal Reserve, FDIC, OCC, SEC, Consumer Financial Protection Bureau, National Credit Union Administration, and Federal Housing Finance Agency.