Unlocking the Next Generation of AI in the U.S. Financial System for Consumers... (EventID=118625)

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Connect with the House Financial Services Committee » Get the latest news: https://democrats-financialservices.house.gov/ » Follow us on Facebook: https://www.facebook.com/USHouseFSC » Follow us on Twitter: https://x.com/USHouseFSC » Follow us on Instagram: https://www.instagram.com/ushousefsc/ » Follow us on Bluesky: https://bsky.app/profile/ushousefsc.bsky.social ___________________________________ » Subscribe: https://www.youtube.com/@USHouseFSC?sub_confirmation=1 ___________________________________ Thursday, September 18, 2025, at 2:00 p.m. (ET) Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chair Congressman Steil and Ranking Member Congressman Lynch will hold a joint hearing entitled, “Unlocking the Next Generation of AI in the U.S. Financial System for Consumers, Businesses, and Competitiveness." ___________________________________ Witnesses for this one-panel hearing will be: ● Dr. David Cox, Vice President, AI Models; IBM Director, MIT-IBM Watson AI Lab ● Mr. Christian Lau, Co-Founder and Chief Product Officer, Dynamo AI ● Mr. Matthew Reisman, Director, Privacy and Data Policy, Center for Information Policy Leadership ● Mr. Daniel Gorfine, Founder & CEO, Gattaca Horizons; Former Chief Innovation Officer & Director of LabCFTC ● Dr. Nicol Turner Lee, Senior Fellow and Director, Center for Technology Innovation, Brookings Institution ___________________________________ This hearing will examine how financial services regulators and firms are using artificial intelligence in areas such as lending, fraud detection, and compliance, among others. Committee Members will analyze both the benefits and potential risks associated with #AI adoption, while assessing the role of regulators in overseeing its deployment in ways that support innovation. Legislation Noticed 1. H.R. 4801, the Unleashing AI Innovation in Financial Services Act (Hill): This bill creates regulatory sandboxes for AI test projects at financial regulatory agencies. The bill directs regulatory agencies to establish AI Innovation Labs to allow regulated entities to experiment with AI test projects without unnecessary or unduly burdensome regulation or expectation of enforcement actions. 2. H.R. 2152, the Artificial Intelligence Practices, Logistics, Actions, and Necessities (PLAN) Act (Nunn): This bill requires the Secretary of the #Treasury, the Secretary of Homeland Security, and the Secretary of Commerce to develop a strategy to defend against the economic and national security risks posed by the use of artificial intelligence in the commission of financial crimes, including fraud and the dissemination of misinformation. 3. H.R. 1734, the Preventing Deep Fake Scams Act (Pettersen): This bill establishes a task force to examine AI in the financial services sector, including both the potential benefits of the #technology for financial institutions and the unique risks it poses to customer account security. #digitalassets #crypto #cryptocurrency #congress #innovation #blockchain ___________________________________ Hearing page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=413729