IV 
118TH CONGRESS 
2D SESSION 
H. RES. 1600 
Expressing the sense of the House of Representatives with respect to the 
use of artificial intelligence in the financial services and housing industries. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 26, 2024 
Mr. MCHENRY (for himself and Ms. WATERS) submitted the following 
resolution; which was referred to the Committee on Financial Services 
RESOLUTION 
Expressing the sense of the House of Representatives with 
respect to the use of artificial intelligence in the financial 
services and housing industries. 
Whereas generative artificial intelligence (‘‘AI’’) has the po-
tential to provide significant opportunities as well as risks 
across the financial services and housing industries; 
Whereas AI is playing a significant role in the financial serv-
ices and housing industries and continues to be adopted 
in various forms; 
Whereas the United States capital markets market partici-
pants are leveraging AI to enhance research capabilities, 
market surveillance, and trading and execution; 
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Whereas the United States housing market participants are 
using AI to enhance underwriting, mortgage servicing, 
and tenant screening; 
Whereas United States financial institutions are exploring the 
use of AI to enhance customer service capabilities, ex-
pand the pool of loan applicants, increase repayment 
rates, and decrease fraudulent payments; 
Whereas United States financial firms are leveraging AI to 
streamline compliance with the Bank Secrecy Act and 
sanctions laws as well as enhance cybersecurity oper-
ations from evolving threats; 
Whereas the use of generative AI is enhancing both employee 
productivity and consumer experiences across the finan-
cial services and housing industries; 
Whereas financial institutions’ growing use of AI may create 
financial stability risks through increased herding behav-
ior and market correlation; 
Whereas 
the 
increasing 
use 
of 
AI 
may 
introduce 
vulnerabilities that could be exploited by malicious actors; 
Whereas the use of AI in automated decision-making may 
lead to biased and discriminatory outcomes, and face 
explainability issues due to the complexity and opacity of 
certain AI models; 
Whereas small community financial institutions such as rural 
depository institutions, minority depository institutions, 
and community development financial institutions may 
lack the resources to develop, train, and deploy AI models 
compared to larger institutions; and 
Whereas financial institutions’ use of AI may increase their 
direct and indirect reliance on third-party services: Now, 
therefore, be it 
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Resolved, That it is the sense of the House of Rep-
resentatives that— 
(1) given the critical role of the financial and 
housing markets, the Committee on Financial Serv-
ices of the House of Representatives should play a 
leading role in overseeing the adoption of artificial 
intelligence (‘‘AI’’) in the financial services and 
housing industries; 
(2) the Committee on Financial Services must 
ensure regulators apply and enforce existing laws, 
including anti-discrimination laws, and assess regu-
latory gaps as market participants adopt AI; 
(3) the Committee on Financial Services should 
ensure the financial regulators have the appropriate 
focus and tools to oversee new products and services; 
(4) the Committee on Financial Services should 
continue to consider how to reform data privacy laws 
given the importance of data, especially consumer 
data, to AI; 
(5) the Committee on Financial Services should 
work with financial regulators to understand AI’s 
impact on the workforce; and 
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