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: 2026-03-08 to 2026-03-14

📋 In This Week's Newsletter

• 🏛️ This Week's Congressional Calendar
• 🇺🇸 Federal Government News
• 📚 What We're Reading This Week

This Week's Congressional Calendar

• House Financial Services Committee Hearing: Updating America’s Financial Privacy Framework: The House Financial Services Committee will hold a hearing on March 17, titled 'Updating America’s Financial Privacy Framework for the 21st Century.' Scheduled witnesses include Nathan Taylor (Morrison Foster), Clara Kim (Bank Policy Institute), Steve Boms (Financial Data and Technology Association), Jordan Crenshaw (U.S. Chamber of Commerce), and Laura MacCleery (UnidosUS).
• House Financial Services Subcommittee Hearing: Oversight of the Export-Import Bank: On March 18, the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions will examine Export-Import Bank oversight. President and Chairman John Jovanovic will testify.
• Monetary Policy and Treasury Market Resilience Task Force Hearing: The House Financial Services Committee convenes a hearing March 18 on monetary policy, Treasury market resilience, and economic prosperity, featuring Jeffrey Lacker and Thomas Hoenig (Mercatus Center), Jeffrey Huther (Georgetown), and William English (Yale School of Management).

Federal Government News

Trump Administration Issues Executive Order to Promote Access to Mortgage Credit

On March 13, President Trump signed an Executive Order targeting regulatory barriers in the mortgage sector, with the stated objective of reducing costs and expanding credit access. The Consumer Financial Protection Bureau has been directed to modernize mortgage rules under the Home Mortgage Disclosure Act, simplify documentation, and reduce compliance requirements. Banking regulators are instructed to revise supervisory guidance, support construction lending, reform capital and liquidity standards, and modernize appraisal regulations. The administration also is promoting digital mortgage processes, including e-signatures and remote notarization. The order is designed to restore competition in the mortgage market by addressing prior regulatory changes from the Dodd-Frank Act, preventing institutional investors from acquiring single-family homes, and directing Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities. Recent tax cuts and deregulatory measures are described as supporting affordability and growth.

Sources: www.whitehouse.gov

President Trump Removes Regulatory Barriers to Affordable Home Construction

President Trump signed an Executive Order seeking to eliminate regulatory obstacles that delay housing projects and increase construction costs. The directive instructs federal agencies to update water permitting rules, expedite approvals, reform energy and housing mandates, and simplify environmental and historic preservation reviews. Partnerships with state and local governments are encouraged to adopt streamlined codes and innovative construction methods. The order aligns Opportunity Zone and New Markets Tax Credit incentives with single-family home development. Additional measures include limiting institutional investor purchases of single-family homes and bolstering government support for mortgage-backed securities. The administration expects these actions to enhance housing affordability.

Sources: www.whitehouse.gov

FinCEN Issues Geographic Targeting Order for Money Services Businesses Along Southwest Border

The Financial Crimes Enforcement Network issued a Geographic Targeting Order requiring certain money services businesses (MSBs) in selected counties of Arizona, Texas, New Mexico, and California to report currency transactions between $1,000 and $10,000, effective March 7 through September 2, 2026. Newly covered MSBs must comply by April 6. The order mandates identity verification and record retention for five years, while excluding transactions with commercial banks and certain MSBs under court injunctions. Noncompliance may result in civil or criminal penalties. The GTO does not change other Bank Secrecy Act obligations, and FinCEN encourages voluntary Suspicious Activity Reports for potentially evasive transactions.

Sources: www.federalregister.gov

SEC Approves FICC Rule Change on Bond Haircut Correlation Calculation

The Securities and Exchange Commission approved a Fixed Income Clearing Corporation rule change to improve correlation calculations within its bond haircut models, specifically addressing short-term bonds and bonds lacking vendor-supplied sensitivity analytics. FICC will use an alternate vendor's data for affected maturity buckets, improving risk management and margin accuracy. Impact analysis showed an increase in aggregate Value-at-Risk (VaR) charges and member margin portfolios, with the change expected to improve alignment with actual risk exposures. The SEC found this rule consistent with Exchange Act requirements, supporting efficient settlement and sufficient financial resources.

Sources: www.federalregister.gov

FICC Files Advance Notice to Establish Commercial Paper Program for Default Liquidity

The Fixed Income Clearing Corporation submitted an advance notice to the SEC proposing a Commercial Paper Program, which would raise up to $10 billion in prefunded default liquidity. Under the proposal, short-term unsecured notes would be issued to qualified institutional buyers and accredited investors, supplementing existing liquidity resources including cash deposits and the Capped Contingency Liquidity Facility. The commercial paper maturities would be up to 397 days, with staggering to mitigate concentration risk. Proceeds would be held at the Federal Reserve Bank of New York or other creditworthy institutions. The SEC is soliciting comments and may approve the program within 60 days.

Sources: www.federalregister.gov

What We're Reading This Week

• Private Equity’s Private Credit Problem: The New York Times assesses challenges facing the private credit market as private equity firms confront financing and risk pressures.
• Are the wheels coming off the Private Credit sector?: Substack article investigates structural risks and liquidity issues emerging in private credit funds.
• Exclusive | First Brands Creditors Shift to Finance Litigation After Restructuring Talks Fail: WSJ reports creditors of First Brands are turning to litigation finance due to failed restructuring discussions.
• Managing your money when geopolitical risk and volatility are high: CNN summarizes strategies for navigating heightened geopolitical uncertainty and financial market volatility.
• How Much Do You Know About Minimizing Taxes on Your Investments? Try Our Quiz: WSJ offers a survey on knowledge relating to tax-efficient investing.
• We Need to Talk About Your Retirement ‘Spending’: AP News explores consumer approaches to managing income and expenses in retirement.
• Protecting Trillions in Energy Assets: How Molecular Traceability is Helping Safeguard Global Oil and Gas Investments: USA Today covers new traceability technologies in global oil and gas investment security.

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