Financial Technology Protection Act of 2023
Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™The Financial Technology Protection Act of 2023 (H.R. 2969) is a bill introduced in the 118th Congress aimed at addressing issues related to financial technology. The bill was introduced in the House of Representatives and subsequently received in the Senate, where it was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs. The bill is categorized under the policy area of Finance and Financial Sector. However, there is no official summary or full text available for this bill, and it ultimately failed or expired without becoming law.
H.R. 2969 sought to address financial technology concerns but did not advance beyond committee referral and ultimately expired without enactment.
- The bill is titled the Financial Technology Protection Act of 2023 and was introduced in the House during the 118th Congress.
- It was referred to the Senate Committee on Banking, Housing, and Urban Affairs after being received in the Senate.
- The bill did not progress further and is recorded as failed or expired as of the latest update.
['Potential beneficiaries could include financial technology companies, consumers of financial technology services, regulatory agencies overseeing financial technology, and the broader financial sector, although specific beneficiaries cannot be identified due to lack of bill text.']
['Without the full text or summary, it is unclear what implementation challenges, costs, or oversight mechanisms the bill proposed.', 'The absence of detailed provisions limits understanding of authority changes or enforcement implications.', 'The failure or expiration of the bill suggests potential challenges in legislative support or prioritization.']
The bill was introduced during the 118th Congress and moved from the House to the Senate, where it was referred to a relevant committee. The lack of further action and its status as failed or expired indicates it did not gain sufficient traction to become law. The referral to the Committee on Banking, Housing, and Urban Affairs aligns with the bill's focus on financial technology within the financial sector.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['If enacted, the bill might have influenced regulatory frameworks or protections related to financial technology, potentially affecting innovation and consumer safeguards.', 'Its failure to pass leaves existing regulatory and market conditions unchanged, which could maintain current challenges or gaps in financial technology oversight.']
The absence of a bill summary and full text limits transparency and public accountability. The bill's failure to advance beyond committee referral and its expiration highlight the importance of tracking legislative progress and ensuring access to complete legislative documents for informed public and stakeholder engagement.
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