H.R. 1734 Introduced Finance and Financial Sector

Preventing Deep Fake Scams Act

To establish the Task Force on Artificial Intelligence in the Financial Services Sector to report to Congress on issues related to artificial intelligence in the financial services sector, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Pettersen, Brittany [D-CO-7] Introduced February 27, 2025 Cosponsors 11 (4 D, 7 R) Latest action February 27, 2025

Summary

Preventing Deep Fake Scams Act
This bill establishes the Task Force on Artificial Intelligence in the Financial Services Sector. Members include representatives from the Department of the Treasury, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the National Credit Union Administration. The task force must report on (1) how banks and credit unions prevent fraud that utilizes artificial intelligence, (2) best practices for financial institutions to protect their customers, and (3) related legislative and regulatory recommendations.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Feb 27, 2025 Referred to the House Committee on Financial Services.
  2. Feb 27, 2025 Introduced in House

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