3.0.0 3554 2025-01-14T18:20:21Z 2025-01-14T18:20:21Z Senate S S 2023-12-18 118 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings By (full committee) 2024-06-12T13:45:05Z Hearings By (full committee) 2024-02-08T17:07:54Z Hearings By (full committee) 2024-02-01T19:04:00Z Hearings By (full committee) 2024-01-18T17:46:52Z Referred To 2023-12-18T21:35:32Z 118 7036 HR 2024-01-18 Referred to the House Committee on Financial Services. Related bill CRS 2024-06-12 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2024-02-08 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2023-12-18 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2023-12-18 Introduced in Senate IntroReferral 10000 9 Library of Congress W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. N K000393 Sen. Kennedy, John [R-LA] John Kennedy R LA 2023-12-18 True Finance and Financial Sector Administrative law and regulatory procedures 2024-10-22T15:27:38Z Advanced technology and technological innovations 2024-10-22T15:19:25Z Advisory bodies 2024-10-22T15:27:08Z Banking and financial institutions regulation 2024-10-22T15:19:04Z Civil actions and liability 2024-10-22T15:28:08Z Computer security and identity theft 2024-10-22T15:24:55Z Computers and information technology 2024-10-22T15:19:20Z Federal Housing Finance Agency 2024-10-22T15:27:48Z Financial services and investments 2024-10-22T15:19:14Z Finance and Financial Sector 2024-01-26T18:30:20Z

00 2023-12-18 Introduced in Senate 2024-08-16T20:55:51Z <p><strong>Financial Artificial Intelligence Risk Reduction Act or the FAIRR Act</strong></p><p>This bill addresses the impact of artificial intelligence on financial markets.</p><p>The bill requires the Financial Stability Oversight Council to coordinate with agencies regarding threats to the financial system posed by artificial intelligence, including the use of false representations of the likeness, speech, or actions of persons to manipulate or to cause disruptions to financial markets. The council must report on its findings and make policy recommendations to Congress. After congressional review, the council must implement these recommendations.</p><p>The Securities and Exchange Commission is allowed to seek treble civil penalties for violations of federal securities exchange law that involve machine-manipulated media.</p><p>The bill establishes liability for a person who, directly or indirectly, deploys or causes to be deployed an artificial intelligence model involved in a securities law violation.</p><p>The bill also provides for the regulation and supervision of certain financial organizations and service providers. For example, if a credit union that is subject to examination by the Board of Directors of the National Credit Union Administration delegates the performance of certain activities and services, this delegation must be disclosed and is subject to regulation and examination by the board.</p>

Display Title 45 2024-07-24T15:19:36Z Short Title(s) as Introduced 101 2024-05-24T13:34:58Z Introduced in Senate IS Short Title(s) as Introduced 101 2024-05-24T13:34:58Z Introduced in Senate IS Official Title as Introduced 6 2024-02-09T09:08:33Z Introduced in Senate IS Introduced in Senate 2023-12-18T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s3554is/xml/BILLS-118s3554is.xml 2024-06-12 Committee on Banking, Housing, and Urban Affairs. Hearings held. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.