US HR1007

House Financial Services Committee should lead policy-making on AI adoption in financial services and housing industries, promoting a pro-consumer, pro-investor, and pro-innovation culture

Regulators must apply and enforce existing laws, including anti-discrimination laws, while assessing regulatory gaps as market participants adopt AI technologies

Any AI regulatory framework must not disproportionately burden smaller firms, including rural depository institutions, minority depository institutions, and community development financial institutions

Congress should evaluate state laws and consider reforms to privacy laws for financial institutions given the importance of financial data to AI, while strengthening cybersecurity standards for AI systems

The United States should maintain global leadership on AI development and use while safeguarding taxpayer interests as emerging technologies evolve