August 02, 2026 to August 08, 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

Federal Reserve Proposes Overhaul of Regulation O

The Federal Reserve Board issued for public comment proposed amendments to Regulation O, governing loans by member banks to insiders and their affiliates. The amendments would update and revise numerous provisions, including raising reporting and approval thresholds to reflect inflation and economic growth, and introduce automatic indexing of these thresholds. The proposal also addresses situations where large asset management companies, through passive investment funds, are deemed to control banks and, consequently, a wide network of portfolio companies. The rule seeks to clarify the application of lending limits to such fund complexes, introduce additional definitions, and modernize outdated sections. The rulemaking also codifies interpretations regarding transition loans to new insiders and provides technical updates and streamlined language throughout Regulation O. Comments on the proposal are due by October 5, 2026.

Sources: www.federalregister.gov

Federal Reserve Proposes Modernization for Mutual Holding Companies

The Federal Reserve published a notice of proposed rulemaking that would amend Regulation MM, modernizing the regulatory framework for mutual holding companies (MHCs). The proposed rule would eliminate certain dividend waiver procedural requirements, amend capital rules to clarify eligible mutual capital instruments, update model charters and bylaws, and revise requirements for conversion from mutual to stock form. The changes are designed to reduce compliance and operational burdens, encourage mutual capital formation, and clarify application procedures and approval standards. The Board invites comments on a broad set of technical and policy questions, with comments due by October 5, 2026.

Sources: www.federalregister.gov

NCUA Finalizes Amendments to Insurance Regulations for Credit Unions

The National Credit Union Administration Board finalized a rule amending its regulations for obtaining and maintaining federal share insurance. Effective September 8, 2026, the rule eliminates redundant disclosure requirements for federally insured state-chartered credit unions regarding nonmember accounts not covered by federal share insurance. The Board determined existing contractual requirements are sufficient, and the change will reduce compliance burdens for credit unions. The rule also affirms that essential consumer protections remain through the terms of insured account agreements.

Sources: www.federalregister.gov

NCUA Eases Collateral Rules for Suretyship and Guaranty Agreements

NCUA has issued a final rule eliminating prescriptive segregated deposit and collateral requirements for suretyship and guaranty agreements undertaken by federally insured credit unions (FICUs). The amendment, effective September 8, 2026, grants FICUs greater latitude in structuring such agreements while keeping limits on the obligations' terms and amounts. The rule maintains that all activities remain subject to safety and soundness standards and applicable state lending regulations. Comments reflected broad support for the update due to greater operational flexibility and reduced complexity.

Sources: www.federalregister.gov

SEC Notices: Investment Company Act and Exchange Act Information Collections

Throughout the past week, the Securities and Exchange Commission issued several information collection notices and proposed extensions affecting investment companies, broker-dealers, business development companies, and unit investment trusts. These include proposals related to Form N-54C, Rule 31a-1, Rule 0-2 under the Investment Company Act, Rule 15g-2 for penny stock disclosures, Rule 35d-1 for fund names, and Form S-6 for unit investment trusts. The notices detail current recordkeeping and disclosure burdens as well as updated cost estimates, with public comment deadlines ranging through September and October 2026.

Sources: www.federalregister.gov, www.federalregister.gov, www.federalregister.gov, www.federalregister.gov, www.federalregister.gov

Legislative Updates

Bankruptcy Threshold Adjustment Act of 2026

S. 3977, the Bankruptcy Threshold Adjustment Act of 2026, has cleared the Senate without amendment by Unanimous Consent. The measure addresses bankruptcy filing thresholds for small businesses, and Senate proceedings for final passage occurred on August 3, 2026 (CR S4412).

Sources: www.congress.gov

Emergency Savings Enhancement Act of 2025

S. 3333, Emergency Savings Enhancement Act of 2025, remains pending on the Senate Legislative Calendar under General Orders (Calendar No. 544) as of August 5, 2026. This bill proposes to facilitate emergency savings accounts within retirement plans.

Sources: www.congress.gov

First-Time Home Buyer Empowerment Act

S. 5227, First-Time Home Buyer Empowerment Act, was introduced and referred to the Senate Finance Committee on August 4, 2026. The legislation aims to enhance mortgage access for first-time buyers.

Sources: www.congress.gov

Fair Debt Collection Practices for Servicemembers Act

H.R. 10018, the Fair Debt Collection Practices for Servicemembers Act, was referred to the House Financial Services Committee on August 3, 2026. The bill seeks to strengthen debt collection protections for military personnel.

Sources: www.congress.gov

Permanent CBDC Ban Act

H.R. 10017, titled the Permanent CBDC Ban Act, was referred to the House Financial Services Committee on August 3, 2026. This measure would prohibit issuance of a U.S. central bank digital currency.

Sources: www.congress.gov

MOVE Act

H.R. 10028, the MOVE Act, was assigned to the House Financial Services Committee on August 3, 2026. The bill's summary and specific provisions are yet to be detailed.

Sources: www.congress.gov

To amend the Internal Revenue Code of 1986 to exempt individual account plans from certain prohibited transaction rules.

H.R. 10039 would amend tax law to exempt individual account retirement plans from specific prohibited transaction restrictions. The legislation is under review in the House Ways and Means Committee.

Sources: www.congress.gov

Great American Healthcare Act

H.R. 10015, the Great American Healthcare Act, was referred to multiple House committees, including Financial Services, for jurisdiction over relevant provisions. It covers a broad set of reforms concerning insurance and healthcare markets.

Sources: www.congress.gov

Cleaner Transportation Access for All Act

S. 5215, the Cleaner Transportation Access for All Act, was referred to the Senate Finance Committee on August 3, 2026. The bill addresses policy areas including finance and transit funding.

Sources: www.congress.gov

A bill to identify and take action against international trade practices of high income countries that unfairly exploit innovation by deviating from market-based policies and unfairly exploit United States innovation, and for other purposes.

S. 5265 was read twice and referred to the Senate Committee on Finance on August 5, 2026. The bill targets unfair international trade practices related to innovation.

Sources: www.congress.gov

State-Based Education Loan Awareness Act

S. 4097, State-Based Education Loan Awareness Act, was placed on the Senate Legislative Calendar under General Orders (Calendar No. 539) as of August 4, 2026. The measure focuses on education loan information initiatives by states.

Sources: www.congress.gov

A bill to recover unclaimed pandemic-era unemployment compensation funds held by financial institutions or escheated to State unclaimed property administrators, and for other purposes.

S. 5272 was read twice and referred to the Senate Finance Committee on August 5, 2026. The legislation seeks to recover unclaimed pandemic-era unemployment funds residing at financial institutions or with state unclaimed property authorities.

Sources: www.congress.gov

A bill to amend title 18, United States Code, to enhance penalties for certain cases of gift card fraud, and for other purposes.

S. 5229 was referred to the Senate Judiciary Committee on August 4, 2026. The bill proposes increased penalties for specific types of gift card fraud offenses.

Sources: www.congress.gov

What We're Reading This Week

• Morgan Stanley hires BofA's Kweskin to cover diversified industries: Morgan Stanley has brought in BofA’s Alan Kweskin as part of its diversified sectors group.
• Jefferies sees brighter India outlook as credit, capital flows ramp up; removes HDFC Bank in portfolio revamp: Jefferies upgraded its view on India’s financial sector, adjusting its model portfolio to reflect anticipated credit expansion.
• The Morning Risk Report: How Trump’s Financial Windfall Stiffened Opposition to Landmark Crypto Bill: Political financial developments have shaped opposition to key crypto legislation before Congress.
• Tanzania eases FX rules to allow all foreigners to buy government debt: The Tanzanian government has revised foreign exchange rules, permitting all foreign investors to purchase its sovereign debt instruments.
• India paves way for return of merchant fees on digital payments: The Indian payments regulator is set to allow merchant fees on digital platforms after several years of fee-free transactions.
• Opinion | Defending the Senate’s Clarity Act for Crypto: The Wall Street Journal column addresses arguments backing new regulatory clarity legislation for crypto assets.
• Opinion | The Crypto Lobby Objects on the Clarity Act: Industry groups are pushing back against the Senate crypto regulatory bill, citing competitive concerns.

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