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HR8671119th CongressWALLET

Bank Fraud Technology Advancement Act of 2026

Sponsored By: Representative Flood, Mike [R-NE-1]

In Committee

Summary

Boost community banks' access to advanced fraud detection tools. This bill would require a governmentwide study and create a voluntary pilot to help insured depository institutions and credit unions use technologies like artificial intelligence, machine learning, behavioral biometrics, network analytics, data fusion, and blockchain tracing.

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  • Community banks and credit unions: Institutions with under $10 billion in assets would be eligible for a voluntary pilot offering pooled procurement, shared services, model validation help, standardized vendor risk templates, and technical support.
  • Federal agencies and law enforcement: Federal banking agencies would consult with the Treasury Department, the Financial Crimes Enforcement Network, the Federal Trade Commission, the Bureau of Consumer Financial Protection, the Federal Communications Commission, and others to jointly study current use, barriers, governance, and recommendations and provide a report within 18 months.
  • Payments systems and consumers: The study and pilots would evaluate fraud risks in electronic funds transfers and checks and examine how advanced analytics affect settlement finality, system stability, privacy, and consumer protections.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Help community banks fight fraud

If enacted, the bill would require federal agencies to study how banks and credit unions use advanced fraud detection tools. The study would be delivered to Congress within 18 months and must include recommendations on shared services, AI model governance, and payments‑system risks. The bill would also authorize agencies to set up a voluntary pilot, within one year after the study's AI/ML report, to help insured depository institutions and credit unions with less than $10,000,000,000 in assets get pooled procurement, shared services, model validation help, vendor templates, and anonymized fraud data feeds. Pilots would end no later than three years after the report and agencies must publish findings within six months; reports may include a classified annex for committees.

Sponsors & CoSponsors

Sponsor

Flood, Mike [R-NE-1]

NE • R

Cosponsors

  • Rep. Pettersen, Brittany [D-CO-7]

    CO • D

    Sponsored 5/12/2026

Roll Call Votes

No roll call votes available for this bill.

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