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Preventing Deep Fake Scams Act
3/21/2025, 3:53 PM
Summary of Bill HR 1734
Bill 119 HR 1734, also known as the Task Force on Artificial Intelligence in the Financial Services Sector Act, aims to create a task force that will focus on the use of artificial intelligence (AI) in the financial services industry. The task force will be responsible for reporting to Congress on various issues related to AI in this sector.
The bill outlines the composition of the task force, which will consist of members appointed by the Secretary of the Treasury, the Chair of the Securities and Exchange Commission, and the Chair of the Commodity Futures Trading Commission, among others. The task force will also include representatives from academia, consumer advocacy organizations, and the financial services industry.
The primary goal of the task force is to study and analyze the impact of AI on the financial services sector, including its potential benefits and risks. The task force will also assess the current regulatory framework governing AI in financial services and make recommendations for any necessary changes. Overall, the Task Force on Artificial Intelligence in the Financial Services Sector Act seeks to ensure that Congress is informed about the implications of AI in the financial services industry and is equipped to make informed decisions about regulation and oversight in this rapidly evolving field.
The bill outlines the composition of the task force, which will consist of members appointed by the Secretary of the Treasury, the Chair of the Securities and Exchange Commission, and the Chair of the Commodity Futures Trading Commission, among others. The task force will also include representatives from academia, consumer advocacy organizations, and the financial services industry.
The primary goal of the task force is to study and analyze the impact of AI on the financial services sector, including its potential benefits and risks. The task force will also assess the current regulatory framework governing AI in financial services and make recommendations for any necessary changes. Overall, the Task Force on Artificial Intelligence in the Financial Services Sector Act seeks to ensure that Congress is informed about the implications of AI in the financial services industry and is equipped to make informed decisions about regulation and oversight in this rapidly evolving field.
Read the Full Bill
Current Status of Bill HR 1734
Bill HR 1734 is currently in the status of Bill Introduced since February 27, 2025. Bill HR 1734 was introduced during Congress 119 and was introduced to the House on February 27, 2025. Bill HR 1734's most recent activity was Referred to the House Committee on Financial Services. as of February 27, 2025
Bipartisan Support of Bill HR 1734
Total Number of Sponsors
4Democrat Sponsors
4Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
6Democrat Cosponsors
3Republican Cosponsors
3Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1734
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HR 1734
To establish the Task Force on Artificial Intelligence in the Financial Services Sector to report to Congress on issues related to artificial intelligence in the financial services sector, and for other purposes.
To establish the Task Force on Artificial Intelligence in the Financial Services Sector to report to Congress on issues related to artificial intelligence in the financial services sector, and for other purposes.
Comments
Sponsors and Cosponsors of HR 1734
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