A bill to require reports on artificial intelligence regulation in the financial services industry.

This bill (S 4870) requires five federal financial regulators - the Federal Reserve, FDIC, OCC, NCUA, and CFPB - to submit a detailed report to Congress within 90 days of enactment. The report must analyze how AI is used in regulated financial institutions, current AI governance standards, potential regulatory gaps, inter-agency coordination issues, and the agencies' future AI plans and resource needs. It focuses on identifying knowledge gaps and resource requirements for overseeing AI in finance, not on creating new regulations. The bill aims to inform Congress about the regulatory landscape surrounding AI in banking and consumer financial services.