This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions and other government-related news for professionals in the financial industry, banking, credit unions, insurance, payment processing, fintech, credit card issuing, asset management, venture capital, private equity, and crypto-currencies. Once a week, we break down the most important updates in this space in under five minutes.

Want to track other GR news in adjacent industries? Don’t miss this week’s updates in ICT & Cybersecurity.

Dates: 2026-01-05 to 2026-01-16

📋 In This Week's Newsletter

• 🏛️ This Week's Congressional Calendar
• 🇺🇸 Federal Government News
• 📚 What We're Reading This Week

This Week's Congressional Calendar

• Oversight of the Department of Housing and Urban Development and the Federal Housing Administration: The House Financial Services Committee is scheduled to hold a hearing on January 21, 2026, to review the oversight of the Department of Housing and Urban Development and the Federal Housing Administration. Secretary Scott Turner is slated to testify.
• Various Measures: The House Financial Services Committee will convene for a markup session on 'Various Measures' on January 22, 2026, at 3:00 PM ET.

Federal Government News

SEC Proposes Major Increase to Small Entity Asset Thresholds for Investment Advisers and Funds

The Securities and Exchange Commission issued a proposed rule to update the definitions of "small business" and "small organization" as applied to investment companies and investment advisers under the Regulatory Flexibility Act. The proposal would raise the small-entity net asset threshold for investment companies from $50 million to $10 billion and increase the regulatory assets under management (RAUM) threshold for investment advisers from $25 million to $1 billion, with new mechanisms for future inflation adjustment every ten years. The SEC also proposed conforming amendments to Form ADV and related electronic filing hardship exemptions, as well as changes to aggregation definitions using existing 'family of investment companies' reporting on Form N-CEN. The public comment period runs through March 13, 2026.

Sources: www.federalregister.gov

FDIC Proposes Nationwide Survey on AML/CFT Compliance Costs

The Federal Deposit Insurance Corporation released a proposed information collection under the Paperwork Reduction Act for a new survey on the direct costs of anti-money laundering (AML) and countering the financing of terrorism (CFT) compliance. The voluntary survey would solicit cost data—including for fraud monitoring and overlapping functions—from approximately 1,928 FDIC-supervised insured depository institutions, requiring about 6 hours and 20 minutes per respondent, with an estimated total burden of 12,211 hours. Responses will be treated as confidential supervisory information and will inform regulatory adjustment discussions. Comments are due by February 9, 2026.

Sources: www.federalregister.gov

CFPB Modifies System of Records for Nationwide Mortgage Licensing Registry

The Consumer Financial Protection Bureau issued a notice of proposed modifications to the Privacy Act system of records for the Nationwide Mortgage Licensing System and Registry (CFPB.019). The changes expand categories of covered individuals to include MLOs, primary contacts at regulated institutions, and regulatory agency personnel; clarify the collection and use of identity verification and background information; update records retention schedules; and introduce new disclosure provisions, including information sharing with the National Archives. Comments on the modifications are due by February 17, 2026, with the changes scheduled to become effective on the same date absent contrary determinations.

Sources: www.federalregister.gov

President Trump Directs Fannie Mae and Freddie Mac to Boost Mortgage-Backed Securities Purchases, Unveils Measures to Address Housing Affordability

President Trump announced initiatives to address housing affordability, including directing the federal housing enterprises Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities. The administration also imposed a ban on large institutional investors acquiring single-family homes. These steps are accompanied by recent data showing declining mortgage rates and the most affordable monthly payments in over two years. The White House cites national increases in median family incomes and improved affordability indices. Regulatory efforts to reduce obstacles to housing supply are underway alongside these market and administrative interventions.

Sources: www.whitehouse.gov

Executive Order Safeguards Venezuelan Oil Revenue in U.S. Treasury Accounts

On January 9, 2026, President Trump declared a national emergency to protect Venezuelan oil revenue held in U.S. Treasury accounts, barring judicial processes such as attachment or garnishment against these funds. The order designates the revenue as sovereign property of Venezuela to be used solely for public, governmental, or diplomatic purposes as determined by the Secretary of State and managed by the U.S. Treasury. The move aims to support U.S. foreign policy objectives including regional stabilization and countering illicit actors. The Secretary of the Treasury is authorized to manage compliance, assert sovereign immunity, and report implementation actions to Congress.

Sources: www.whitehouse.gov

What We're Reading This Week

• Deep Dive How payments will evolve: 6 industry trends to watch in 2026: Payments Dive examines major trends likely to shape U.S. payments in the year ahead.
• CFPB shifts on EWA policy, again: Banking Dive reports on new CFPB guidance clarifying that certain earned wage access products will not be categorized as loans.
• CFPB shifts on EWA policy, again: Payments Dive details the evolving stance of the CFPB regarding earned wage access products and regulatory classification.
• How the US can drive payments modernization: Payments Dive covers approaches and obstacles for advancing real-time payment infrastructure in the United States.

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