Recent Congressional Activities
U.S. House of Representatives: Committee on Financial Services
McHenry, Waters Announce Creation of Bipartisan AI Working Group
January 11, 2024
U.S. House Committee on Financial Services Chair Patrick McHenry (NC-10) and Ranking Member Maxine Waters (CA-43) announced the formation of the Committee’s bipartisan Working Group on Artificial Intelligence (AI), led by Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (AR-02) and Subcommittee Ranking Member Stephen F. Lynch (MA-08).
The bipartisan AI Working Group will explore how artificial intelligence (AI) is impacting the financial services and housing industries, including the development of new products and services, fraud prevention, compliance efficiency, and the enhancement of supervisory and regulatory tools, as well as how AI may impact the financial services workforce. The Working Group will also examine how existing regulation addresses the use of AI and how lawmakers can ensure that any new regulations consider both the potential benefits and risks associated with AI. This Working Group is a continuation of the work conducted by the Task Force on Artificial Intelligence in the 116th and 117th Congresses.
Hearing: Oversight of the Department of Housing and Urban Development and the Federal Housing Administration
January 11, 2024
The U.S. House Committee on Financial Services held a hearing entitled, “Oversight of the Department of Housing and Urban Development and the Federal Housing Administration.”