Unleashing AI Innovation in Financial Services Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4951 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4951 To provide for regulatory sandboxes that permit certain persons to experiment with artificial intelligence without expectation of enforcement actions. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES August 1, 2024 Mr. Rounds (for himself and Mr. Heinrich) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To provide for regulatory sandboxes that permit certain persons to experiment with artificial intelligence without expectation of enforcement actions. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Unleashing AI Innovation in Financial Services Act''. SEC. 2. USE OF ARTIFICIAL INTELLIGENCE BY REGULATED FINANCIAL ENTITIES. (a) Definitions.--In this section: (1) AI test project.--The term ``AI test p…