# 119-s-2528: Unleashing AI Innovation in Financial Services Act

119-s-2528, Unleashing AI Innovation in Financial Services Act, is a 119th Congress bill sponsored by Sen. Rounds, Mike [R-SD] (R-SD); status introduced; PRIA reads it as touching household money (as of 2026-08-22).

- Canonical: https://policyrisk.com/legislation/119-s-2528
- As of: 2026-08-22
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-2528
- Congress: 119
- Title: Unleashing AI Innovation in Financial Services Act
- Status: introduced
- Introduced: 2025-07-29
- Sponsor: Sen. Rounds, Mike [R-SD] (R-SD)
- Cosponsors: 4
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-08-22

## Summary

**AI Innovation Labs** would create a formal program for regulated financial firms to run supervised AI test projects inside federal regulators. The bill sets an agency approval process, confidentiality and coordination rules, annual public reporting, and preserves fraud enforcement authority. - Regulated entities: Banks, securities firms, credit unions, and other federally supervised firms could run approved AI pilots with reduced regulatory friction and limited enforcement exposure while the pilot is active. Projects must follow agency approval, termination, and confidentiality rules. - Financial regulators: Each registered financial regulator would establish an AI Innovation Lab to review and approve test projects, coordinate across agencies when projects span multiple regulators, and manage confidentiality and termination procedures. - Congress and consumers: Agencies must send aggregated findings, trends, and lessons to the Senate Banking Committee and House Financial Services Committee starting 2 years after enactment and then annually for 7 years. Reports may not name participants or disclose proprietary information and agencies retain authority to pursue fraud enforcement.

## Cosponsors (4)

- Sen. Heinrich, Martin [D-NM] (D-NM), 2025-07-29T00:00:00.000Z
- Sen. Tillis, Thomas [R-NC] (R-NC), 2025-07-29T00:00:00.000Z
- Sen. Kim, Andy [D-NJ] (D-NJ), 2025-07-29T00:00:00.000Z
- Sen. Warner, Mark R. [D-VA] (D-VA), 2026-02-26T00:00:00.000Z

## Provisions PRIA read

- AI Innovation Labs for Financial Firms: benefit, medium. If enacted, each federal financial regulator would set up an AI Innovation Lab to let regulated firms run approved AI test projects. Firms would apply with a project plan, alternative compliance approach, risk and public-interest analysis, a proposed end date and size limits, and an economic-impact…
- Which regulators oversee AI projects: benefit, medium. If enacted, the bill would define key terms and say which federal regulator is the appropriate one for different institutions and activities. It would define an "AI test project" as a financial product or service that makes substantial use of artificial intelligence and may be subject to Federal re…

## Related bills

- 119-s-1241: Sanctioning Russia Act of 2025
- 119-s-410: Love Lives On Act of 2025
- 119-s-237: Honoring Our Fallen Heroes Act of 2025
- 119-s-1816: Improving Seniors’ Timely Access to Care Act of 2025
- 119-s-1261: CONNECT for Health Act of 2025
- 119-s-3267: ASAP Act

## Sources
- [119-s-2528 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/2528)

## Related
- [119-s-1241: Sanctioning Russia Act of 2025](https://policyrisk.com/legislation/119-s-1241)
- [119-s-410: Love Lives On Act of 2025](https://policyrisk.com/legislation/119-s-410)
- [119-s-237: Honoring Our Fallen Heroes Act of 2025](https://policyrisk.com/legislation/119-s-237)
- [119-s-1816: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-s-1816)
- [119-s-1261: CONNECT for Health Act of 2025](https://policyrisk.com/legislation/119-s-1261)
- [119-s-3267: ASAP Act](https://policyrisk.com/legislation/119-s-3267)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-2528 (as of 2026-08-22).