United States 119th Congress Status: In Committee Bipartisan · 1 R · 1 D cosponsors

HR 8671 — Bank Fraud Technology Advancement Act of 2026

Last action — Placed on the Union Calendar, Calendar No. 612.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced May 07, 2026. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 34% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (1 R · 1 D) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill promotes advancements in technology to combat bank fraud.

This legislation aims to advance technology solutions to help detect and prevent bank fraud. By focusing on technological improvements, it seeks to enhance the security practices in the banking sector.

What this means for you
  • Consumers: If you're a consumer, this bill could lead to enhanced security measures in banking, making your financial transactions safer.

Bill Text

What changed in the latest version

99 added · 43 removed

Plain-language change summary

The updated version of the bill clarifies the definition of “advanced fraud detection technology” by specifying that it includes a variety of tools and technologies used to combat financial fraud. Additionally, it removes the broader definition of "credit union," focusing specifically on the meaning provided by the Federal Credit Union Act. The section calling for a study on these technologies now emphasizes a comprehensive examination involving various federal and state agencies and law enforcement to evaluate effectiveness, barriers to adoption, and related issues. This change aims to ensure a more targeted approach to understanding and addressing challenges in utilizing advanced fraud detection technology.

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8671 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H.
8671 Reported in House (RH)] <DOC> Union Calendar No.
612 119th CONGRESS 2d Session H.
8671 To require the Federal banking agencies to conduct a study on the use of advanced technologies in fraud detection and prevention, with particular attention to community financial institutions, and for other purposes.
8671 [Report No.
119-704] To require the Federal banking agencies to conduct a study on the use of advanced technologies in fraud detection and prevention, with particular attention to community financial institutions, and for other purposes.
which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To require the Federal banking agencies to conduct a study on the use of advanced technologies in fraud detection and prevention, with particular attention to community financial institutions, and for other purposes.
which was referred to the Committee on Financial Services June 18, 2026 Additional sponsor:
Ms.
Pettersen June 18, 2026 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed [Strike out all after the enacting clause and insert the part printed in italic] [For text of introduced bill, see copy of bill as introduced on May 7, 2026] _______________________________________________________________________ A BILL To require the Federal banking agencies to conduct a study on the use of advanced technologies in fraud detection and prevention, with particular attention to community financial institutions, and for other purposes.
(1) Advanced fraud detection technology.--The term ``advanced fraud detection technology'' includes artificial intelligence, machine learning, predictive analytics, behavioral biometrics, network analytics, data fusion tools, distributed ledger-based monitoring tools, blockchain tracing tools, and other emerging technologies used to detect, prevent, or mitigate financial fraud.
(1) Advanced fraud detection technology.--The term ``advanced fraud detection technology'' means emerging technologies used to detect, prevent, or mitigate financial fraud and scams, including artificial intelligence, machine learning, predictive analytics, behavioral biometrics, network analytics, data fusion tools, distributed ledger-based monitoring tools, and blockchain tracing tools.
(3) Credit union.--The term ``credit union'' means a State credit union or Federal credit union, as such terms are defined, respectively, in section 101 of the Federal Credit Union Act (12 U.S.C.
(3) Credit union.--The term ``credit union'' has the meaning given the term ``insured credit union'' in section 101 of the Federal Credit Union Act (12 U.S.C.
STUDY ON ADVANCED TECHNOLOGIES IN FRAUD DETECTION AND PREVENTION.
STUDY ON ADVANCED TECHNOLOGIES IN FRAUD AND SCAM DETECTION AND PREVENTION.
(a) In General.--The Federal banking agencies, in consultation with the Secretary of the Treasury, the Financial Crimes Enforcement Network, the Federal Trade Commission, the Bureau of Consumer Financial Protection, and appropriate law enforcement agencies, shall jointly conduct a comprehensive study on the use of advanced fraud detection technology by insured depository institutions and credit unions.
(a) In General.--The Federal banking agencies, in consultation with the Secretary of the Treasury, the Financial Crimes Enforcement Network, the Federal Trade Commission, the Bureau of Consumer Financial Protection, the Federal Communications Commission, and other appropriate Federal and State government agencies, including appropriate law enforcement agencies, shall jointly conduct a comprehensive study on the use of advanced fraud detection technology by insured depository institutions and credit unions.
(1) Current use and effectiveness.--The current use and effectiveness of advanced fraud detection technology, including-- (A) the extent to which insured depository institutions and credit unions of varying asset sizes deploy advanced fraud detection technology;
(1) Current use and effectiveness.--The current use and effectiveness of advanced fraud detection technologies, including- (A) the extent to which insured depository institutions and credit unions of varying asset sizes deploy advanced fraud detection technology;
(B) measurable outcomes relating to fraud reduction, loss mitigation, and consumer protection;
(B) measurable outcomes relating to fraud detection, prevention, loss reduction, loss mitigation, privacy, and consumer protection;
and (C) barriers to adoption, including cost, interoperability constraints, regulatory uncertainty, data access limitations, and liability concerns.
(C) barriers to adoption and considerations of interoperability, data access, liability, error rates, and regulation;
(2) Community financial institution access.--Community financial institution access to advanced fraud detection technology, including-- (A) challenges faced by community financial institutions in accessing or deploying advanced fraud detection tools;
and (D) how various fraud detection technologies differ in use, effectiveness, costs, benefits, and considerations under subparagraphs (A) through (C).
(B) whether economies of scale disadvantage smaller community financial institutions relative to large community financial institutions;
(2) Community financial institution access.--Community financial institution (that is either an insured depository institution or credit union) access to advanced fraud detection technology, including-- (A) challenges faced by community financial institutions in accessing or deploying advanced fraud detection tools, including unique challenges faced by various types of community financial institutions;
(B) whether economies of scale disadvantage smaller community financial institutions in general, or certain types of smaller financial institutions;
(3) Artificial intelligence and machine learning.-- Artificial intelligence and machine learning, including-- (A) the use of artificial intelligence and machine learning models, applications, and tools in detecting fraud patterns, anomalies, synthetic identity fraud, and real-time payment fraud;
(3) Artificial intelligence and machine learning.-- Artificial intelligence and machine learning, including-- (A) the use by insured depository institutions and credit unions of artificial intelligence and machine learning models, applications, and tools in detecting fraud patterns, anomalies, synthetic identity fraud, and real-time payment fraud;
and (C) interactions between fraud detection models and consumer protection laws.
and (C) steps Federal banking agencies can take in coordination with other relevant government agencies and the private sector to ensure access by insured depository institutions and credit unions, including community financial institutions and their third-party vendors, to such models, applications, and tools.
(6) Regulatory and supervisory considerations.--Regulatory and supervisory considerations, including-- (A) whether existing supervisory expectations create barriers to innovation;
(6) Regulatory and supervisory considerations.--Regulatory and supervisory considerations, including-- (A) what benefits and risks arise from existing supervisory expectations with respect to innovations in fraud detection and prevention, including whether existing supervisory expectations create barriers to innovation while maintaining relevant safeguards;
(B) the need for interagency guidance, regulatory clarity, or safe harbors to support technology adoption;
(B) the need for interagency guidance, regulatory clarity, or safe harbors to support technology adoption in a manner that promotes fraud detection and prevention consistent with consumer protection, privacy, safety and soundness, and national security;
(c) Report and Recommendations.-- (1) Report.--Not later than 18 months after the date of enactment of this Act, the Federal banking agencies shall issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing all findings and determinations made in carrying out the study required under this section, and make such report publicly available, except for classified or supervisory information.
(c) Report and Recommendations.-- (1) Report.--Not later than 18 months after the date of enactment of this Act, the Federal banking agencies shall issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing all findings and determinations made in carrying out the study required under this section, and make such report publicly available.
(2) Recommendations.--The report required under paragraph (1) shall include legislative, regulatory, or supervisory recommendations which may include-- (A) proposals to support shared fraud detection utilities or consortium-based analytics platforms;
(2) Classified annex.--A report under paragraph (1) may include a classified annex, if applicable, provided to the committees.
(B) guidance or safe harbors to encourage responsible artificial intelligence use in fraud prevention;
(3) Recommendations.--The report required under paragraph (1) shall include legislative, regulatory, or supervisory recommendations that promote fraud detection and prevention consistent with consumer protection, safety and soundness, and national security, which may include-- (A) proposals to support shared fraud detection utilities or consortium-based analytics platforms;
(B) guidance or safe harbors to encourage artificial intelligence use in fraud prevention;
COMMUNITY BANK FRAUD TECHNOLOGY PILOT PROGRAM.
COMMUNITY FINANCIAL INSTITUTION FRAUD TECHNOLOGY PILOT PROGRAM.
(a) In General.--Not later than 1 year after submission of the study under section 3, the Federal banking agencies may jointly establish a voluntary pilot program to facilitate community financial institution access to advanced fraud detection tools.
(a) In General.--Not later than 1 year after submission of the report required under section 3(c), the Federal banking agencies may jointly establish a voluntary pilot program to facilitate community financial institution access for insured depository institutions and credit unions with less than $10,000,000,000 in total consolidated assets to advanced fraud detection tools.
<all>
(c) Sunset and Report.-- (1) Sunset.--Any pilot program established under this section shall expire not later than 3 years after submission of the report required under section 3(c).
(2) Report.--Not later than 6 months after the expiration of all pilot programs established under this section, the Federal banking agencies shall issue a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, and make such report available to the public, containing-- (A) all findings and determinations made by the Federal banking agencies in carrying out any pilot program established under this section;
and (B) any legislative, regulatory, or other recommendations the Federal banking agencies may have based on such findings and determinations.
(3) Classified annex.--A report under paragraph (2) may include a classified annex, if applicable, provided to the committees.
Union Calendar No.
612 119th CONGRESS 2d Session H.
R.
8671 [Report No.
119-704] _______________________________________________________________________ A BILL To require the Federal banking agencies to conduct a study on the use of advanced technologies in fraud detection and prevention, with particular attention to community financial institutions, and for other purposes.
_______________________________________________________________________ June 18, 2026 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed
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What Congress says this changes

H. Rept. 119-704

Published by the reporting committee Not generated — this is the committee's own “Changes in Existing Law Made by the Bill, as Reported”.

Text to be removed appears in [brackets]. Newly inserted text is italicised in the official report and cannot be marked in this plain-text rendition — read the official PDF ↗ for the authoritative formatting. 

CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED

 H.R. 8671 does not repeal or amend any section of a 
statute. Therefore, the Office of Legislative Counsel did not 
prepare the report required under clause 3(e) of rule XIII of 
the House of Representatives.

 [GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]

Source: H. Rept. 119-704 · govinfo

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Financial Services.

  4. Committee Consideration and Mark-up Session Held

  5. Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 1.

  6. Reported (Amended) by the Committee on Financial Services. H. Rept. 119-704.

  7. Reported (Amended) by the Committee on Financial Services. H. Rept. 119-704.

  8. Placed on the Union Calendar, Calendar No. 612.

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 545 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (545)

545 members have not signed on to this bill.

Show all 545 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HR 8671?
HR 8671 is sponsored by Pettersen, Brittany (Democratic) and Flood, Mike (Republican).
What is the current status of HR 8671?
This bill is in committee in the House. Introduced May 07, 2026. It must pass committee before a floor vote.
Where can I track HR 8671?
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