Banking Regulators Would Review Their Technology to Improve Oversight
Federal agencies that oversee banks and other financial institutions would be required to assess their current technology and how they buy new systems. This bill aims to help these agencies better monitor the financial system and protect consumers by ensuring they have up-to-date tools and processes.
Today, federal financial agencies often rely on outdated technology, making it hard to get real-time information to supervise banks and other financial companies effectively. If this bill passes, these agencies would be required to assess their current technology and how they buy new systems within 180 days. They would then jointly report their findings and future upgrade plans to Congress, with an initial report due 18 months after assessments are complete, and then every five years thereafter, aiming for more effective and sustainable oversight.
HR 8278 · 119th Congress · April 14, 2026 · AI Summary by gemini-2.5-flash · 10/10
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