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H. Rept. 119-704 1 (2026-06-18)

handle is hein.congrecreports/crptxaijs0001 and id is 1 raw text is: AUTHENTICATED r U.S. GOVERNMENT INFORMATION 4 119TH CONGRESS REPORT 2d Session J HOUSE OF REPRESENTATIVES 119-704 BANK FRAUD TECHNOLOGY ADVANCEMENT ACT OF 2026 JUNE 18, 2026.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HILL of Arkansas, from the Committee on Financial Services, submitted the following REPORT [To accompany H.R. 8671] The Committee on Financial Services, to whom was referred the bill (H.R. 8671) to require the Federal banking agencies to conduct a study on the use of advanced technologies in fraud detection and prevention, with particular attention to community financial insti- tutions, and for other purposes, having considered the same, re- ports favorably thereon with an amendment and recommends that the bill as amended do pass. CONTENTS Page Purpose and Sum m ary ............................................................................................ 4 Background and Need for Legislation .................................................................... 4 Com m ittee Consideration ........................................................................................ 5 R elated H earings ..................................................................................................... 5 C om m ittee V otes ..................................................................................................... 6 Com m ittee Oversight Findings ............................................................................... 8 Perform ance Goals and Objectives ......................................................................... 8 Com m ittee Cost Estim ate ....................................................................................... 8 New Budget Authority and CBO Cost Estimate ................................................... 8 Unfunded M andates Statem ent .............................................................................. 8 E arm ark Statem ent ................................................................................................. 8 Federal Advisory Committee Act Statement ......................................................... 9 Applicability to the Legislative Branch ................................................................. 9 Duplication of Federal Program s ............................................................................ 9 Section-by-Section Analysis of the Legislation ...................................................... 9 Changes in Existing Law Made by the Bill, as Reported ................. 9 Documents Included by Unanimous Consent ........................................................ 10 The amendment is as follows: Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the Bank Fraud Technology Advancement Act of 2026. 69-006