Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act
Placed on the Union Calendar, Calendar No. 617.
Summary
The bill requires agencies that supervise banks and other financial institutions to evaluate the technology they currently use and the rules they follow when acquiring new systems. Within 180 days they must complete these assessments and then submit a comprehensive report to Congress, with follow‑up reports every five years. The aim is to improve real‑time oversight and reduce risks from outdated tools.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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