June 07, 2026 to June 13, 2026

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. Also consider subscribing to our Finance - Ottawa edition covering critical GR news north of the border.

📋 In This Week's Newsletter

• 🇺🇸 Federal Government News
• 📜 Legislative Updates
• 📚 What We're Reading This Week

Federal Government News

OCC Proposes New Reporting Forms for Stablecoin Issuers

The Office of the Comptroller of the Currency issued a notice requesting comment on proposed weekly and quarterly reporting forms for permitted payment stablecoin issuers, as required under the GENIUS Act. The forms include schedules covering largest holders, exchanges, trading volumes, and reserve asset composition, with details on U.S. Treasury securities, money market funds, reverse repurchase agreements, and other instruments. The OCC expects to require XML or similar formats for data submission and has provided initial burden estimates: 2,864 hours for initial setup and 3,444 hours for ongoing compliance. Public comment is sought on the forms, submission format, and reporting criteria by August 11, 2026.

Sources: www.federalregister.gov

CFPB Issues Statement on Lending and Immigration Status

The Consumer Financial Protection Bureau provided guidance clarifying that creditors must assess a consumer’s ability to repay loans under the Truth in Lending Act and Regulation Z. Immigration status may be considered in evaluating repayment risk, especially if it affects the likelihood of income disruption due to removal from the country. The statement, reviewed by the Office of Management and Budget, affirms that these provisions under Regulation B and ECOA permit this analysis but does not require additional information collection under the Paperwork Reduction Act.

Sources: www.federalregister.gov

OCC Seeks Comment on Revised Bank Licensing Manual Forms

The Comptroller of the Currency has requested public feedback on revisions to its Licensing Manual forms affecting national bank formation, mergers, capital increases, and operational changes. The update clarifies requirements and adds new forms (e.g. Mutual Capital Certificate Application), while removing outdated items such as IRS Tax Check Authorization. The manual aims to simplify applications with minimal impact on applicant information requirements, with an estimated annual reporting burden of 10,574 hours across 2,994 respondents. Comments are open until August 11, 2026.

Sources: www.federalregister.gov

SEC Approves Expansion of Eligible Collateral at LCH SA

The Securities and Exchange Commission approved a rule change from LCH SA extending eligible margin collateral to include U.S. Treasury Notes, Bonds, Floating Rate Notes, and Treasury Inflation-Protected Securities. Existing haircuts for T-bills will apply to Notes, Bonds, and FRNs; TIPS will receive separate haircuts based on maturity. The clearinghouse is lowering per-ISIN concentration limits for U.S. bonds from 25% to 20% and updating risk management documents to support these changes. LCH SA also introduced a relative concentration limit for U.S. Treasury collateral, initially set at 100%. Adjustments to collateral and risk parameters are documented in its Collateral Risk Framework.

Sources: www.federalregister.gov

Nomination for Director of the Bureau of Consumer Financial Protection

President Donald J. Trump nominated Brian Johnson of Ohio to serve as Director of the Bureau of Consumer Financial Protection for a five-year term, with the nomination transmitted to the Senate on June 10, 2026.

Sources: www.whitehouse.gov

Legislative Updates

Stopping Fraudulent Payments Act

Bill 8464, the Stopping Fraudulent Payments Act, was received in the Senate. The bill addresses government operations and politics, focusing on procedural reforms to prevent fraudulent payments.

Sources: www.congress.gov

Pre-Payment Fraud Prevention and Treasury Data Access Act

Bill 8463, titled the Pre-Payment Fraud Prevention and Treasury Data Access Act, was also received in the Senate. It proposes establishing expanded fraud prevention and treasury data access capabilities.

Sources: www.congress.gov

To amend the Bank Secrecy Act: Registration of Digital Asset Kiosk Operators

Bill 9268 was referred to the House Committee on Financial Services. This bill would amend the Bank Secrecy Act by mandating registration and compliance standards for digital asset kiosk operators, including anti-money laundering and anti-fraud requirements.

Sources: www.congress.gov

Truth in Lending Act Amendment: Buy Now, Pay Later

Bill 9275, introduced June 11, proposes amending the Truth in Lending Act to classify buy now, pay later loans as credit cards and their issuers as credit issuers. The bill was referred to the House Committee on Financial Services.

Sources: www.congress.gov

Fraud Prevention and Accountability Act

Bill 8312, the Fraud Prevention and Accountability Act, has been received in the Senate. The legislation seeks to bolster government operations by adding measures to ensure program integrity and accountability.

Sources: www.congress.gov

What We're Reading This Week

• Move Over, Student Debt. Medical Bills Threaten to Derail Young Adults’ Finances.: Rising medical debts emerge as a leading financial concern for young adults in the U.S.
• ING bets on subscription model to lift fees amid growing digital-banking competition: ING launches a subscription approach to fee revenue as digital banking competition accelerates.
• Zimbabwe moves to regulate cryptocurrency sector: Zimbabwe begins regulatory measures for digital assets and cryptocurrency providers.
• AI, oil worries have 'over-punished' India, masked long-term investment case, Blackrock says: Blackrock notes Indian equities face short-term pressures but retain long-term investment appeal.
• Private credit dividends look less secure as cash coverage thins: Reduced cash coverage is creating uncertainties for private credit dividend stability.
• U.S. Precious Metals Industry Coalition Urges Congress to Advance SILVER Act to Address Critical Infrastructure Concentration and National Security Risks: The U.S. precious metals sector calls for Congressional action on the SILVER Act for infrastructure and security.
• Debt Collectors Know They Are Reviled. They Have Bills to Pay, Too.: U.S. debt collectors face widespread public scrutiny and professional challenges.

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