Strengthening Oversight for the Financial Sector Act of 2026

Bill Foster

Democrat · IL · Representative

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Referred to the House Committee on Financial Services.

2026-09-02

Source: Congress.gov

Plain-English summary pending. Introduced on 2026-09-02. Check back soon — summaries are generated as bills progress through Congress.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10230 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 10230 To amend the Federal Credit Union Act to modify requirements relating to the regulation and examination of credit union organizations and service providers, to provide the Director of the Federal Housing Finance Agency with the authority to regulate the provision of services provided to the Government-sponsored enterprises and Federal Home Loan Banks, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 2, 2026 Mr. Foster introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Federal Credit Union Act to modify requirements relating to the regulation and examination of credit union organizations and service providers, to provide the Director of the Federal Housing Finance Agency with the authority to regulate the provision of services provided to the Government-sponsored enterprises and Federal Home Loan Banks, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Strengthening Oversight for the Financial Sector Act of 2026''. SEC. 2. REGULATION AND EXAMINATION OF CREDIT UNION ORGANIZATIONS AND SERVICE PROVIDERS. Section 206A of the Federal Credit Union Act (12 U.S.C. 1786a) is amended-- (1) in subsection (a)(1), by striking ``that'' and inserting ``an''; (2) in subsection (c)(2), by inserting after ``shall notify the Board'' the following: ``, in a manner and method prescribed by the Board,''; and (3) by striking subsection (f). SEC. 3. REGULATION OF SERVICE PROVIDERS BY THE FEDERAL HOUSING FINANCE AGENCY. Subpart A of part 2 of subtitle A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4541 et seq.) is amended by adding at the end the following new section: ``SEC. 1329. REGULATION AND EXAMINATION OF CERTAIN SERVICE PROVIDERS. ``(a) In General.--Whenever a regulated entity or the Office of Finance causes to be performed for itself, by contract or otherwise, any activity that is permissible for the regulated entity or the Office of Finance, whether on or off its premises-- ``(1) such performance shall be subject to regulation and examination by the Director to the same extent as if such activity were being performed by such entity or Office itself on its own premises; and ``(2) the regulated entity or Office of Finance shall notify the Director of the existence of the service relationship within thirty days after the making of such service contract or the performance of the activity by the service provider, whichever occurs first. ``(b) Rule of Construction.--Nothing in this subpart may be construed as preventing a State from exercising any powers or jurisdiction of the State with respect to persons or entities subject to regulation and examination by the Director pursuant to this section.''. <all>

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