Definitions

(1) AI test project The term AI test project means a financial product or service that— (A) falls under the jurisdiction of a financial regulatory agency; (B) makes substantial use of artificial intelligence; and (C) is, or may be, subject to a Federal regulation or Federal statute. (2) Appropriate financial regulatory agency The term appropriate financial regulatory agency means— (A) the appropriate Federal banking agency, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813), with respect to an institution described in subsection (q) of that section; (B) the Securities and Exchange Commission, with respect to an institution not described in subparagraph (A) that is— (i) any broker or dealer that is registered with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (ii) any investment company that is registered with the Commission under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.); (iii) any investment adviser that is registered with the Commission under the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.); (iv) any clearing agency registered with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (v) any nationally recognized statistical rating organization registered with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (vi) any transfer agent registered with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (vii) any exchange registered as a national securities exchange with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (viii) any national securities association registered with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (ix) any securities information processor registered with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (x) the Municipal Securities Rulemaking Board established under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (xi) the Public Company Accounting Oversight Board established under the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7211 et seq.); (xii) the Securities Investor Protection Corporation established under the Securities Investor Protection Act of 1970 (15 U.S.C. 78aaa et seq.); and (xiii) any security-based swap execution facility, security-based swap data repository, security-based swap dealer, or major security-based swap participant registered with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), with respect to the security-based swap activities of the person that require such person to be registered under such Act; (C) the Bureau of Consumer Financial Protection, with respect to a covered person, as defined in section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5481), that does not have an appropriate financial regulatory agency under subparagraph (A), (B), (D), or (E) of this paragraph; (D) the National Credit Union Administration, with respect to an insured credit union, as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752); and (E) the Federal Housing Finance Agency, with respect to— (i) a Federal Home Loan Bank; (ii) the Federal Home Loan Bank System; (iii) the Federal National Mortgage Association; and (iv) the Federal Home Loan Mortgage Corporation. (3) Artificial intelligence; ai The terms artificial intelligence and AI have the meaning given the term artificial intelligence in section 5002 of the National Artificial Intelligence Initiative Act of 2020 (15 U.S.C. 9401). (4) Commission The term Commission means the Securities and Exchange Commission. (5) Federal securities laws The term Federal securities laws means— (A) the Securities Act of 1933 (15 U.S.C. 77a et seq.); (B) the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); (C) the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7201 et seq.); (D) the Trust Indenture Act of 1939 (15 U.S.C. 77aaa et seq.); (E) the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.); (F) the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.); (G) the Jumpstart Our Business Startup Act (Public Law 112–106; 126 Stat. 306); and (H) the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111–203; 124 Stat. 1376). (6) Financial product or service The term financial product or service — (A) has the meaning given the term in section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5481); (B) includes— (i) activities that are financial in nature, as defined in section 4(k)(4) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)(4)); (ii) any financial product or service provided by a person regulated by the Commission, as defined in section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5481); and (iii) includes the offer or sale of any security subject to the Federal securities laws; and (C) does not include the business of insurance. (7) Financial regulatory agency The term financial regulatory agency means— (A) the Board of Governors of the Federal Reserve System; (B) the Federal Deposit Insurance Corporation; (C) the Office of the Comptroller of the Currency; (D) the Securities and Exchange Commission; (E) the Bureau of Consumer Financial Protection; (F) the National Credit Union Administration; and (G) the Federal Housing Finance Agency. (8) Regulated entity The term regulated entity means an entity regulated by any financial regulatory agency.