Brad Sherman

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Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, H.R. 8278 is an important step to allowing Congress to better understand the technological vulnerabilities of our banking system and what is faced by our bank regulators. Requiring Federal banking agencies to assess and report to Congress on gaps and vulnerabilities in their supervisory tools and their procurement process would further efforts by our regulators to meet emerging risks. Additionally, this bill will allow Federal banking regulators to evaluate and report on the impact of the Trump administration's executive orders, which, unfortunately, ignore well-documented harms from algorithmic bias in housing and financial services. Ultimately, Congress would use the reporting from this bill to ensure that our banking agencies are able to keep up with the challenges that they face, including rapidly developing AI capacities and the need to make sure that our bank regulators are appropriately using AI to enforce all of our banking laws, including those that prevent discrimination. Mr. Speaker, I urge my colleagues to support this bill, and I yield back the balance of my time.