AI Bubble Transparency Act
Sponsored By: Senator Warren, Elizabeth [D-MA]
Introduced
Summary
Requires a new federal data collection on the financing of artificial intelligence to identify and limit systemic financial risk. The bill would let the Office of Financial Research order firms to report detailed debt and equity exposure tied to AI hardware, data centers, model developers, and other infrastructure.
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- Financial firms would have to report detailed credit and equity exposure data, such as instrument type, size, counterparty, interest rate, term, collateral, and firm financials like revenue, market cap, and total debt.
- Small institutions could be exempt: banks with less than $10.0 billion in assets and firms with under $500.0 million in exposure may not have to report.
- The Director could compel compliance under existing authority and data collection would be due within 180 days. Within 1 year the Financial Stability Oversight Council would publish a public report on AI-related exposures and issue policy recommendations, and the Director would submit unredacted data to congressional committee leaders.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New AI finance reporting for firms
This bill would require the Office of Financial Research Director to order financial firms to submit system-wide data. The data would cover their debt and equity exposures tied to companies that support artificial intelligence. Required fields would include instrument type, size, issuer, interest rate, term, collateral, revenue, net income, market value, and total debt, including off-balance-sheet items. The Director could require other information as needed and could use existing authority to compel data from noncompliant firms. Data collection would be completed within 180 days of enactment, with possible exemptions for small firms (for example, banks with under $10,000,000,000 in assets and firms with under $500,000,000 exposure). Within one year, the Financial Stability Oversight Council would publish a public report on system exposure, transmission channels, and indirect exposures and could issue policy recommendations. Also within one year, the Director would submit the unredacted collected data to the Chairs and Ranking Members of the Senate Banking Committee and the House Financial Services Committee.
Sponsors & CoSponsors
Sponsor
Warren, Elizabeth [D-MA]
MA • D
Cosponsors
Sen. Blumenthal, Richard [D-CT]
CT • D
Sponsored 6/10/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov