Latest action: Placed on the Union Calendar, Calendar No. 612.
Bill is filed in its originating chamber and assigned a number.
Sponsor
Mike Flood (R-NE)
Filed in the House.
Next: In Committee
Members of the committee(s) the bill was referred to
Authorizes funding and resources to help banks detect and prevent fraud using advanced technology.
The problem
Banks struggle to stop fraud quickly as criminals use sophisticated methods. Better technology could help prevent losses and protect customer money.
The proposal
The bill provides funding and support for banks to use advanced technology tools like artificial intelligence and data analysis to identify and stop fraudulent transactions faster.
The impact
Banks gain resources to fight fraud. Customers may see fewer fraudulent transactions. Technology companies may get contracts. Taxpayers fund the program.
Advanced fraud detection helps prevent criminals from stealing people's money. Customers would experience fewer fraudulent charges and identity theft cases. This protects savings and financial security.
Banks reduce losses from fraud, which saves money and improves profitability. Lower fraud losses could mean better financial stability for banking institutions.
Banks purchasing advanced technology creates demand for software and AI companies. This could generate jobs and business opportunities in the tech sector.
Modern technology can detect suspicious activity in real-time rather than days later. This means criminals are caught sooner and victims recover faster.
Funding this program requires government spending that comes from taxes. The total cost and budget impact are unclear without bill details.
Advanced fraud detection technology requires collecting and analyzing customer financial data. This raises questions about data privacy and how information is protected.
Banks vary in size and technical ability. Smaller banks may struggle to use advanced technology effectively even with funding.
The bill provides no information about whether this approach actually works or measurable fraud reduction goals. Success is uncertain.
Generated by AI from the bill text. Not a prediction and not legal or policy advice. The percentage is the model's own rating of each item — self-reported, and not a measure of how accurate it is.
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Individual contributions, grouped by employer · FEC
Where their individual donors work · 2026 cycle
Money from people who work there, not from the company. Not tied to this bill.
Itemized individual contributions via FEC, grouped by the employer each contributor self-reported. Companies and unions cannot contribute to federal candidates from their treasuries, so these totals are money from people who work at an employer — never from the organization itself. They are campaign contributions covering a full election cycle and are not connected to this bill.
Senate LDA lobbying disclosures
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