Preventing Deep Fake Scams Act
Latest action (18 Jun 2025): Introduced
What this bill does
S. 2117, the Preventing Deep Fake Scams Act, would establish a federal Task Force on Artificial Intelligence in the Financial Services Sector. The task force would include the Secretary of the Treasury (as chair), the Comptroller of the Currency, the Chair of the Federal Reserve, the FDIC Chair, the Director of the Consumer Financial Protection Bureau, the Chair of the National Credit Union Administration, and the Director of the Financial Crimes Enforcement Network, or their designees. Within one year of enactment, the task force would report to Congress on how banks and credit unions use AI to prevent fraud, standard definitions for AI-related terms, risks posed by AI-enabled fraud such as deep fakes, best practices for protecting consumers, and legislative or regulatory recommendations. Before writing the report, the task force would be required to seek public feedback and consult banks, credit unions, third-party AI vendors, and AI experts. The task force would dissolve 90 days after submitting its final report.
The bill primarily affects federal financial regulators, who would take on new task-force duties, and indirectly affects banks, credit unions, technology vendors, and consumers, whose input would be solicited and whose interests in fraud prevention are the focus of the study. It does not itself create new rules or penalties; it directs research and recommendations for possible future action.
The bill was introduced in the Senate on June 18, 2025, by Senator Jon Husted with Senator Raphael Warnock as a cosponsor, and referred to the Senate Committee on Banking, Housing, and Urban Affairs. It has not yet received committee action, and would need to pass the Senate, the House, and be signed by the President before taking effect.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on June 18, 2025. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does S. 2117 do?
- S. 2117, the Preventing Deep Fake Scams Act, would establish a federal Task Force on Artificial Intelligence in the Financial Services Sector. The task force would include the Secretary of the Treasury (as chair), the Comptroller of the Currency, the Chair of the Federal Reserve, the FDIC Chair, the Director of the Consumer Financial Protection Bureau, the Chair of the National Credit Union Administration, and the Director of the Financial Crimes Enforcement Network, or their designees. Within one year of enactment, the task force would report to Congress on how banks and credit unions use AI to prevent fraud, standard definitions for AI-related terms, risks posed by AI-enabled fraud such as deep fakes, best practices for protecting consumers, and legislative or regulatory recommendations. Before writing the report, the task force would be required to seek public feedback and consult banks, credit unions, third-party AI vendors, and AI experts. The task force would dissolve 90 days after submitting its final report. The bill primarily affects federal financial regulators, who would take on new task-force duties, and indirectly affects banks, credit unions, technology vendors, and consumers, whose input would be solicited and whose interests in fraud prevention are the focus of the study. It does not itself create new rules or penalties; it directs research and recommendations for possible future action. The bill was introduced in the Senate on June 18, 2025, by Senator Jon Husted with Senator Raphael Warnock as a cosponsor, and referred to the Senate Committee on Banking, Housing, and Urban Affairs. It has not yet received committee action, and would need to pass the Senate, the House, and be signed by the President before taking effect.
- Has S. 2117 become law?
- Not yet. As of 18 Jun 2025, S. 2117 is introduced.
- Who sponsored S. 2117?
- S. 2117 was sponsored by Sen. Jon Husted [R-OH] (Republican-OH), with 1 cosponsor.
- What's the latest action on S. 2117?
- Introduced (18 Jun 2025).
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