Bank Fraud Technology Advancement Act of 2026

Key Points

• This bill asks federal banking agencies to look into how new tools like artificial intelligence and machine learning can help stop bank fraud. They will study how well these tools work and what might be stopping banks from using them.
• The plan focuses on helping small community banks and credit unions. These smaller institutions often have a harder time paying for expensive new technology compared to big national banks.
• The agencies will check if things like high costs or confusing government rules make it difficult for small banks to protect their customers. They will also look for ways banks can share technology to save money.
• Within 18 months, the agencies must give a report to Congress. This report will include ideas for new laws or rules to make it easier for all banks to use the best technology to catch scammers.
• If the study shows it is a good idea, the government could start a test program. This program would help small banks get access to advanced tools and technical support to keep their customers' money safe.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.