October 18, 2026 to October 24, 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
• 📚 What We're Reading This Week

Federal Government News

White House Executive Order to Decrease Housing Costs

On October 22, 2026, President Donald J. Trump signed an executive order aimed at reducing housing costs and expanding access to homeownership. The order directs the Federal Housing Finance Agency (FHFA) to launch a pilot program for proactive cancellation of mortgage insurance for qualifying borrowers, utilizing automated valuation models. Measures include creating a Task Force on Manufactured Housing Innovation to promote factory-built housing, expanding a title acceptance program to reduce refinancing title insurance expenses, and instructing the Departments of Agriculture and Veterans Affairs to lower single-family home mortgage rates. The administration also calls for regulatory efficiencies and compliance with federal law in the execution of the initiatives.

Sources: www.whitehouse.gov

OCC Finalizes Application Process for Payment Stablecoin Issuers Under GENIUS Act

The Office of the Comptroller of the Currency (OCC) is establishing a new information collection for entities seeking to issue payment stablecoins in the United States, as mandated by the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), effective January 18, 2026. This process details application requirements for prospective permitted payment stablecoin issuers and registration procedures for foreign issuers, focusing on applicant financial condition, management qualifications, and policies for redemption, reserves, and risk management. The final rule distinguishes between insured and non-insured institution applicants and allows for multiple stablecoin brands under a single application. Estimated annual burden for applicants is 4,915 hours across 40 expected respondents. Public comments are being accepted through November 23, 2026.

Sources: www.federalregister.gov

Securities and Exchange Commission Extends Collection for Rule 17g-1 Fidelity Bond Requirements

The SEC has submitted for extension the information collection requirements under Rule 17g-1, concerning fidelity bonds for officers and employees of registered management investment companies. The rule prescribes annual board approvals of the bond amount, specifies minimum coverage based on asset size, and outlines notification requirements for bond modifications and claims. Annually, approximately 2,078 funds submit 2,437 filings, with an estimated annual compliance burden of 4,874 hours and $31.58 million in internal costs. Comments are due by November 23, 2026.

Sources: www.federalregister.gov

National Credit Union Administration Proposes to Eliminate Nonconforming Investment Special Reserve Requirement

The National Credit Union Administration Board has proposed rescinding the requirement for federally insured state-chartered credit unions to maintain a special reserve for investments exceeding those permitted for federal credit unions. The NCUA notes that changes to generally accepted accounting principles (GAAP) have minimized the rule's impact, with only seven state-chartered institutions reporting such reserves. The proposed rule also amends related references in parts 702, 703, and 741 of NCUA regulations, streamlining compliance without reducing the protection of the share insurance fund. Public comments are requested by December 21, 2026.

Sources: www.federalregister.gov

Treasury Updates Burden Estimates for Information Returns and Related Forms

The U.S. Department of the Treasury announced revised burden estimates for information return reporting, including all Forms 1098, 1099, and related schedules. Using its updated RAAS Taxpayer Burden Model, the new aggregate estimate for the 2026 reporting year is 140,987,248 hours—representing a decrease of over 2.4 billion hours compared with prior estimates. Total monetized burden is calculated at $13.96 billion for 79.5 million respondents. These new estimates reflect changes in taxpayer reporting practice and compliance tracking, with the aim of informing future public comment and review processes.

Sources: www.federalregister.gov

What We're Reading This Week

• Trump says fraud investigations make 'very big dent' in overseas scams: President Trump claims new federal fraud probes are disrupting international crypto scams.
• Irish central bank fines Coinbase unit €3.25 million: Ireland's central bank penalizes Coinbase’s local subsidiary over compliance breaches.
• A MAGA Bank’s Financial Woes Entangle Vivek Ramaswamy and Rick Jackson: GloriFi bankruptcy case links financial difficulties to prominent political and business figures.
• How Worried Should We Be About the Economy? Let’s Look at 2008.: A comparison is drawn between current economic uncertainty and the 2008 financial crisis.
• A Simple Way to Benefit From Rising Rates: Buy Money Market Funds: Analysis suggests money market funds as a straightforward option amid higher interest rates.
• India's Shriram Finance joins peers in flagging stress in gold loans: Shriram Finance in India reports rising gold loan delinquencies alongside peers.
• Bank of Italy calls for digital asset investments by banks despite uncertainty: Italian central bank encourages banks to continue digital asset investments amid market ambiguity.

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