Foster Proposes the Real-Time Regulatory Study Act
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AI-assisted source synthesis · not an independent investigation.
On November 7, 2026, U.S. Representative Bill Foster released a discussion draft of the *Real-Time Regulatory Study Act of 2026*, which seeks to promote the Federal Reserve’s testing of open-source demonstration software for financial regulation. The draft plans to assess whether regulators can obtain real-time information on the condition of banks and other financial institutions while reducing the cost of regulatory reporting. The software is intended to provide standardized regulatory data formats, as well as data management and transmission tools, to help small financial institutions, community banks, and credit unions reduce manual reporting work. The proposal is currently still at the discussion-draft stage.
AI-written from reports · updated 3 hours ago
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- PYMNTSBill Foster Releases Discussion Draft of the Real-Time Regulatory Study Act of 2026 to Advance Federal Reserve Testing of AI Financial Regulatory Tools
U.S. Representative Bill Foster released a discussion draft of the Real-Time Regulatory Study Act of 2026, which would require the Federal Reserve to test open-source demonstration software for financial regulation. The project would assess whether regulators can monitor the condition of banks and other financial institutions in real time while reducing the cost of regulatory reporting. The software would provide standardized regulatory data formats and tools for managing and transmitting data, helping smaller institutions, community banks, and credit unions reduce manual reporting work.
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