Responsible AI Disclosure Act of 2024
The source supplies the latest action, but no lifecycle stage.
Latest action (26 Nov 2024): Referred to the House Committee on Financial Services.
What this bill does
H.R. 10263, the Responsible AI Disclosure Act of 2024, would direct six federal financial regulators—the Federal Reserve, the Consumer Financial Protection Bureau, the FDIC, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the SEC—to study how artificial intelligence systems used by regulated financial firms are built and trained, including the data sources used, the mix of synthetic versus real data, and how these systems comply with anti-discrimination, consumer protection, and investor protection laws. Within six months of enactment, the agencies would report their findings and recommendations to the House Financial Services Committee and Senate Banking Committee.
The bill affects banks, credit unions, securities firms, and other entities regulated by these agencies, as well as vendors that supply them with AI systems. After the report is issued, agencies could—if they determine they already have legal authority—require regulated entities or AI vendors to disclose information about how their AI models are built and function, either to the agency or publicly. The bill expresses a nonbinding sense of Congress that agencies should not wait for the report to act if they believe such disclosure requirements are needed.
The bill was introduced November 26, 2024, by Rep. Maxine Waters and referred to the House Financial Services Committee. It has not received a vote and, given the end of the 118th Congress, would need to be reintroduced to advance further.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
26 Nov 2024
Referred to the House Committee on Financial Services.
Common questions
- What does H.R. 10263 do?
- H.R. 10263, the Responsible AI Disclosure Act of 2024, would direct six federal financial regulators—the Federal Reserve, the Consumer Financial Protection Bureau, the FDIC, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the SEC—to study how artificial intelligence systems used by regulated financial firms are built and trained, including the data sources used, the mix of synthetic versus real data, and how these systems comply with anti-discrimination, consumer protection, and investor protection laws. Within six months of enactment, the agencies would report their findings and recommendations to the House Financial Services Committee and Senate Banking Committee. The bill affects banks, credit unions, securities firms, and other entities regulated by these agencies, as well as vendors that supply them with AI systems. After the report is issued, agencies could—if they determine they already have legal authority—require regulated entities or AI vendors to disclose information about how their AI models are built and function, either to the agency or publicly. The bill expresses a nonbinding sense of Congress that agencies should not wait for the report to act if they believe such disclosure requirements are needed. The bill was introduced November 26, 2024, by Rep. Maxine Waters and referred to the House Financial Services Committee. It has not received a vote and, given the end of the 118th Congress, would need to be reintroduced to advance further.
- Has H.R. 10263 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 10263. Check the latest action and official source below.
- Who sponsored H.R. 10263?
- H.R. 10263 was sponsored by Rep. Waters, Maxine [D-CA-43] (D-CA), with 1 cosponsor.
- What's the latest action on H.R. 10263?
- Referred to the House Committee on Financial Services. (26 Nov 2024).
Related bills in Finance and Financial Sector
Common Cents Act
Bankruptcy Threshold Adjustment Act
Terrorism Risk Insurance Program Reauthorization Act of 2026
To amend title 11, United States Code, to clarify the rules for the exceptions to the discharge of the debt of an individual debtor, and for other purposes.
More bills from Rep. Waters, Maxine [D-CA-43]
Urban Health Transformation Act of 2026
To increase the mandatory contribution amount of Federal Home Loan Banks to the Affordable Housing Program, and for other purposes.
Restoring Fair Housing Protections Eliminated by Trump Act of 2025
AI Act of 2024
Bill100 mirrors the public U.S. legislative record from Congress.gov and GovTrack and adds plain-English AI summaries. It is an information tool, not legal, compliance or lobbying advice, and it is not affiliated with the U.S. Congress or any government agency. AI summaries can simplify or omit detail — every bill links to the official source; verify there before you rely on it.