Fostering the Use of Technology to Uphold Regulatory Effectiveness...
To require certain supervisory agencies to assess their technological capabilities, and for other purposes.
This bill aims to enhance the technological capabilities of certain supervisory agencies, ensuring they can effectively monitor and regulate their respective sectors. It requires these agencies to evaluate their current technology use and identify areas for improvement. The bill is expected to benefit regulatory agencies, the organizations they oversee, and ultimately, the public by promoting more efficient and effective oversight.
The bill has recently passed the House and is now in the Senate. It was introduced on April 14, 2026, and has gone through several stages including committee review and report passing. As of September 16, 2026, it was received in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs for further consideration. The bill has strong bipartisan support, with sponsors from both Democratic and Republican parties.
Recent actions include the bill being reported (amended) by the House Committee on Financial Services and placed on the Union Calendar. The House has debated and passed the bill, and it awaits further action in the Senate. This bill reflects a commitment to modernizing regulatory practices through technology.
