H.R. 4801
Unleashing AI Innovation in Financial Services Act
Sponsor: J. French Hill
3 cosponsors
Official summary
Written by the Congressional Research Service.
Unleashing AI Innovation in Financial Services Act
This bill allows regulated financial entities to test artificial intelligence (AI) projects under waived or modified regulations upon the approval of an application by the appropriate federal financial regulatory agency. These agencies must establish AI innovation labs to enable such projects.
Under the bill, regulated entities may engage in AI test projects associated with financial products, services, or activities. Regulated entities must apply to the appropriate agency with a description and proposed duration of the AI test project, propose an alternative compliance strategy, and explain how the AI test project serves the public interest and does not present certain risks.
The alternative compliance strategy must include several elements, such as (1) identifying a regulation issued by an agency that the regulated entity requests to be waived or modified and (2) proposing an alternative method of compliance with the regulation's underlying statute. Upon approval, the agency may only enforce such a regulation according to the agreement.
The bill also provides for agency review of such applications, establishes procedures for entities that are subject to regulation by multiple agencies, and allows agencies to file for injunctive relief if an AI test project presents certain risks or dangers.
Text of the bill
Where this section came from
Not in the first version (Introduced in House, Jul 29).
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Jun 24, 2026 · Reported in House Marked up by House Committee on Financial Services, May 13 Reported by House Committee on Financial Services, Jun 24 Committee members' individual votes aren't in our records.
What is a markup?
A markup is a committee meeting where members go through a bill and vote on changes before sending it to the full chamber.
Each financial regulatory agency shall establish, or identify an office, division, or department of the agency that shall serve as, an AI Innovation Lab to enable regulated entities to experiment with AI test projects without unnecessary or unduly burdensome regulation or expectation of enforcement actions, including enforcement actions that disincentivize the substantial use of artificial intelligence to enhance regulatory compliance practices, pursuant to the approval of an application under section 4.