At a House Financial Services Committee hearing on proposed AI legislation, lawmakers considered whether a unified federal framework was needed to preempt conflicting state laws, and deliberated over proposed legislation to create AI "regulatory sandboxes".

The American Bankers Association submitted a statement for the record to the House Financial Services Committee asserting that banks already operate under extensive compliance regimes covering artificial intelligence risks and that the financial services sector serves as a model for responsible AI deployment.

Senate Banking Committee Ranking Member Elizabeth Warren questioned UBS Group AG Chairman Colm Kelleher and Treasury Secretary Scott Bessent about reports they discussed moving the bank's headquarters to the U.S. to avoid stricter capital requirements in Switzerland.

The SEC Division of Trading and Markets issued updated guidance on daily customer and broker-dealer reserve computation requirements.

The North American Securities Administrators Association urged Congress to vote against a bill, the "Increasing Investor Opportunities Act." NASAA claimed the legislation would weaken public market disclosure requirements without providing essential investor protections.