Marlin Stutzman

04/14/2026 | Press release | Distributed by Public on 04/14/2026 15:59

REP. STUTZMAN AND REP. FOSTER INTRODUCE THE FUTURES ACT

WASHINGTON, DC - Today, Congressman Marlin Stutzman (IN-03) and Congressman Bill Foster (IL-11) introduced the Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision (FUTURES) Act. The legislation aims to modernize technology systems within federal agencies responsible for regulating banks and credit unions, enhancing their capacity for effective supervision and oversight.
The FUTURES Act will enhance the ability of regulatory agencies to conduct thorough supervision and ensure the safety and soundness of the financial system. The legislation will address the critical need for modernization by requiring:
  • Comprehensive Technology Assessments: The bill requires federal regulatory agencies, including the Federal Reserve System, FDIC, OCC, CFPB, FHFA, NCUA, and FinCEN, to conduct thorough assessments of their technology systems. These assessments will identify current deficiencies and areas for improvement, including technology plans, procurement practices, workforce impacts, and information intake and analysis.
  • Advanced Reporting Requirements: Within 18 months of completing the assessments, and for every 5 years thereafter, regulatory agencies must submit reports to the House Financial Services Committee and the Senate Banking Committee. These reports will include findings, evaluations, and plans for upgrading technology systems and addressing anticipated challenges.
"To perform the necessary oversight of financial systems our constituents demand, modernization of the regulation technology used is essential," said Rep. Stutzman. "New threats to our financial institutions arise daily, and Congress must be proactive in our approach to stopping them. I am happy to stand with Rep. Foster in offering a common-sense solution that has previously received support in the House."
"The sudden collapse of Silicon Valley Bank demonstrated that threats to our financial system can move much faster than previously understood," said Rep. Foster. "Today, artificial intelligence is accelerating those risks even further and raising the likelihood of AI-driven bank runs. Combined with social media, agentic communication and 24-hour banking, these technologies can amplify panic and destabilize institutions in minutes instead of hours or days. This bill is an important step to ensure our financial regulators have the tools they need to monitor, anticipate, and respond to these emerging, technology-driven threats."
KEY BACKGROUND:
  • Similar legislation was introduced in the 118th Congress by Rep. Erin Houchin (IN-09) and was advanced by the House Committee on Financial Services by voice vote on April 17, 2024.
Contact: Ron Kovach - [email protected]
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