United States Congress · 119 session · house
HR 8278Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act
- Status
- In committee
- Latest action
- — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Primary sponsor
- Rep. Stutzman, Marlin A. [R-IN-3] (R)
- Finance and Financial Sector
Latest change summary
Confidence: high
This version reorganizes and refocuses the bill's findings section to reframe the justification for supervisory technology enhancement. The revisions shift emphasis from a broad rationale centered on artificial intelligence risks and general technology needs to a more detailed enumeration of vulnerabilities created by outdated agency technology, while simultaneously repositioning AI as a later finding and adding language about non-prudential mandates. The changes also resequence findings to emphasize procurement challenges and the necessity of leveraging new technologies for prudential supervision in the digital age, while establishing a unified goal for coordinated technology enhancement. Additionally, the reporting requirements are expanded to require agencies to describe risk management practices for contractors and third-party technologies, not just the degree of contractor reliance.
