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.

Dates: 2026-02-08 to 2026-02-14

📋 In This Week's Newsletter

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

Federal Government News

NCUA Proposes Regulation for Credit Union Subsidiary Stablecoin Issuers

The National Credit Union Administration (NCUA) proposed a comprehensive regulation to license, regulate, and supervise payment stablecoin issuers that are subsidiaries of federally insured credit unions, as mandated by the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The proposed rule details definitions, application and licensing procedures for permitted payment stablecoin issuers (PPSIs), requirements for written certification of anti-money laundering and economic sanctions compliance, and limitations on credit union investment in PPSIs. The NCUA sets a 120-day deadline for licensing decisions and proposes reporting obligations, business plan requirements, and supervisory procedures. Comments are due by April 13, 2026. The rule restricts credit unions to invest only in NCUA-approved PPSIs and provides protocols for changes in PPSI control.

Sources: www.federalregister.gov

SEC Approves FINRA Amendments to Capital Acquisition Broker Rules

The Securities and Exchange Commission approved FINRA’s amendments to the Capital Acquisition Broker (CAB) Rules, expanding the types of institutional investors CABs can serve. The rule now includes certain eligible employees and permits CABs to act as placement agents or finders for both issuers and institutional buyers in sales of new unregistered securities. Changes also clarify CABs’ role in change-of-control transactions, permit associated persons to participate in private securities transactions if compliant with FINRA Rule 3280, authorize equity securities as compensation, and update references around M&A broker exemptions. The rule streamlines industry access to institutional capital and aligns regulatory definitions to recent statutory updates.

Sources: www.federalregister.gov

OCC Initiates Renewal and Comment Period on Reporting for Proprietary Trading and Fund Exposure

The Office of the Comptroller of the Currency (OCC) published a notice soliciting comment on its continued information collection requirements associated with proprietary trading restrictions and exposure to covered funds, as stipulated under the Dodd-Frank Act's Volcker Rule provisions. Banks subject to these rules must maintain extensive reporting, recordkeeping, and documentation to demonstrate compliance, including regular CEO attestations and quarterly metrics submissions for entities with significant trading assets. The OCC estimates the burden at 20,410 hours for 39 respondents annually. Public comments on accuracy, utility, and potential burden reductions are requested by April 13, 2026.

Sources: www.federalregister.gov

SEC Requests Comment on Rule 10b5-1 Information Collection Extension

The Securities and Exchange Commission seeks public comment on the extension of its Rule 10b5-1 information collection, which pertains to the documentation required for insider trading affirmative defenses. Rule 10b5-1 plans must include officer and director certifications regarding the absence of nonpublic information at the time of plan adoption. The agency estimates an annual internal burden of 13,050 hours across 8,700 respondents and expects no external cost burden. Comments on the collection are due by March 16, 2026.

Sources: www.federalregister.gov

White House Discusses Economic and Regulatory Achievements

The White House published an overview asserting progress on the administration’s America First agenda, referencing economic indicators such as the Dow Jones surpassing 50,000, improved mortgage affordability, and falling prescription drug prices. The announcement references enforcement activity, including ICE arrests, and federal court decisions on immigration policy. It also notes stated declines in major crime rates and describes recent policy steps in healthcare and border management. No new financial sector policy measures were announced in this summary.

Sources: www.whitehouse.gov

Legislative Updates

No Tax Dollars for Terrorists Act Advances in Senate

The No Tax Dollars for Terrorists Act (Bill 260) addresses concerns in the international affairs policy area and has progressed to the Senate, where it was placed on the Legislative Calendar under General Orders (Calendar No. 330) on February 10, 2026.

Sources: www.congress.gov

What We're Reading This Week

• Fed’s Hammack: Monetary Policy Is in a Good Place to Stay on Hold: Federal Reserve Governor Hammack stated conditions support holding monetary policy steady as of February 10, 2026.
• Private Equity: Market coverage on private equity activity in transportation and logistics shows ongoing deal activity in the sector.
• US bank regulators move closer to proposing new 'Basel' rules for large banks: U.S. bank regulators are advancing toward proposing new large-bank requirements under Basel standards.
• Bipartisan Senate bill targets money laundering linked to drug trafficking, terrorism: Congressional lawmakers introduced bipartisan legislation seeking to toughen anti-money laundering frameworks tied to drug and terror activities.
• Spencer Jakab | Why Investing Pros Are Drawn to 100-Year Bonds: Institutional investors are showing increased interest in 100-year bonds for long-term yield opportunities.
• The U.S. Savings & Loans Crisis Part II: Band-Aids on a Dying Industry: The 1970s Presidents Who Kicked the S&L Ca…: Analysis revisits the policy responses to the U.S. S&L crisis and regulatory missteps.
• Monopoly Round-Up: The $2 Trillion Collapse of Bitcoin and Terrible Software Companies: A summary of recent events involving cryptocurrency and software sector failures.

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