Bank Fraud Technology Advancement Act of 2026
Sponsored By: Representative Flood, Mike [R-NE-1]
In Committee
Summary
This bill would help community financial institutions access advanced fraud detection technology. It directs federal banking agencies to study how banks and credit unions use tools like AI, machine learning, behavioral biometrics, and blockchain tracing to detect and prevent fraud, and it authorizes a voluntary pilot to expand access to those tools.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Voluntary pilot for community banks
This bill would let federal banking agencies set up a voluntary pilot within one year after the required study is submitted. The pilot would help community banks and credit unions get access to advanced fraud-detection tools. It would offer pooled buying or shared services, model validation help and technical support, and standardized vendor risk-management templates and clearer model governance expectations. The Department of the Treasury and law enforcement would provide anonymized fraud typology data feeds to participants. Participation would be voluntary and not required. Households would see small, indirect benefits if their community bank joined the pilot.
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.
View on Congress.gov