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: 2026-03-01 to 2026-03-07

📋 In This Week's Newsletter

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

Federal Government News

Executive Order Issued to Combat Cybercrime, Financial Fraud and Predatory Schemes

President Donald J. Trump signed an Executive Order on March 6 mandating a comprehensive review of frameworks to address transnational criminal organizations engaged in cyber-enabled crimes, including ransomware, financial fraud, and phishing schemes. The order requires a 120-day action plan to identify and dismantle TCOs, establish an operational cell within the National Coordination Center, and prioritize prosecution of cyber-enabled fraud. It introduces a Victim Restoration Program to return seized funds, and directs the Department of Homeland Security to support state and local resilience. International engagement includes sanctions and trade penalties on nations tolerating predatory activity. In 2024, Americans reported $12.5 billion in losses to cyber-enabled fraud. The order is designed to reinforce law enforcement, digital system protection, and support for vulnerable populations.

Sources: www.whitehouse.gov, www.whitehouse.gov

Nomination Sent to Senate for Federal Reserve Chair

Kevin Warsh has been nominated for Chairman of the Board of Governors of the Federal Reserve System (four-year term) and as a Member of the Board of Governors for a fourteen-year term beginning February 1, 2026. The nominations were formally sent by the White House for Senate consideration.

Sources: www.whitehouse.gov

Proposal of Special Measure Regarding MBaer Merchant Bank AG: Primary Money Laundering Concern

FinCEN issued a notice of proposed rulemaking on March 2 that finds MBaer Merchant Bank AG of Switzerland to be of primary money laundering concern under Section 311 of the USA PATRIOT Act. The proposed rule would prohibit U.S. financial institutions from opening or maintaining correspondent accounts for MBaer, require reasonable steps to prevent processing transactions involving MBaer, and mandate special due diligence for foreign correspondent accounts. FinCEN cited MBaer’s facilitation of illicit transactions linked to Venezuelan, Russian, and Iranian actors. Comments must be submitted by April 1, 2026.

Sources: www.federalregister.gov

Office of the Comptroller of the Currency Finalizes Community Bank Licensing Amendments

The OCC published a final rule amending licensing requirements for national banks and Federal savings associations with assets below $30 billion, effective April 3, 2026. The rule expands expedited and reduced filing procedures for eligible institutions, clarifies standards for significant adverse comments, and retains the asset threshold without inflation adjustment. The amendments are aimed at reducing regulatory burdens while maintaining oversight. Public comments regarding alternative definitions and fair lending were addressed. The OCC determined the rule would not have a significant impact on small entities.

Sources: www.federalregister.gov

OCC Rescinds Fair Housing Home Loan Data System Regulation

The Office of the Comptroller of the Currency issued a final rule rescinding its Fair Housing Home Loan Data System regulation (12 CFR Part 27), effective April 3, 2026. The regulation, established in 1979, required national banks to maintain home loan data for fair housing monitoring. The OCC determined it was obsolete and duplicative, as Home Mortgage Disclosure Act and Equal Credit Opportunity Act data are relied upon for supervision. The rescission is expected to reduce regulatory burdens, particularly for smaller non-HMDA reporters, without impacting fair housing supervisory capacity.

Sources: www.federalregister.gov

Legislative Updates

INCREASE Housing Affordability Act Advances in House

Bill H.R. 537, the INCREASE Housing Affordability Act, received procedural action in the House as Representative Magaziner was granted first sponsorship status for purposes of adding cosponsors and requesting reprinting, following clause 7 of rule XII. The bill, originally introduced by Representative Sherrill, relates to taxation policies impacting housing affordability.

Sources: www.congress.gov

What We're Reading This Week

• Regulators Need to Play Catch-Up on Private-Credit Risk, Canada Central Banker Says: Canada's central bank official called for greater regulatory attention to private credit risk.
• The Fed’s Forgotten Purpose: Commentary examines Federal Reserve's role and evolving mandate.
• Jefferies faces scrutiny over lending to collapsed MFS and First Brands: Jefferies is under review for its lending practices following collapses of MFS and First Brands.
• MrBeast Is Getting Into Financial Services. Parents Should Pay Attention.: YouTube personality MrBeast is launching financial services, raising questions for families.

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