Bill Foster (D-IL)
Strengthening Oversight for the Financial Sector Act of 2026
A Democratic bill with no cosponsors
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The Strengthening Oversight for the Financial Sector Act of 2026 modifies how credit union organizations and their service providers are regulated and examined. It also gives the Director of the Federal Housing Finance Agency the power to regulate and examine service providers working for the Office of Finance and other regulated entities. These service providers must be subject to the same regulation as if the activity were performed on the entity's own premises. Additionally, regulated entities must notify the Director of these service relationships within thirty days.
Yes· 3 of 4
- Scored +3
Does this give the federal government more power?
The bill expands the regulatory and examination authority of the Federal Housing Finance Agency director over service providers.
- Scored +3
Does this make what the government does easier for the public to see?
Requires mandatory notification of service relationships within thirty days, increasing transparency of financial operations.
- Scored +2
Does this make the government pay for what it commits to?
Increased oversight of financial service providers improves systemic stability and fiscal risk management.
The opposite
- Scored -3
Would business owners be better off under this?
Service providers in the financial sector face increased regulatory burdens and more frequent examinations.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Oversight: By allowing the Director to regulate and examine service providers to the same extent as the regulated entities themselves, it ensures that outsourced activities are still monitored (Section 3).
-
Transparency: Regulated entities are required to notify the Director of service relationships within thirty days, which provides a record of who is performing these financial activities (Section 3).
Potential Negative Impacts for People
- Increased Regulatory Burden: Service providers may face more strict regulation and examinations by the Director, which could create additional burdens for those companies (Section 3).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — Requires mandatory notification of service relationships within thirty days, increasing transparency of financial operations. Does this give the federal government more power? — The bill expands the regulatory and examination authority of the Federal Housing Finance Agency director over service providers.
- Economy And Finance
- Does this give people more protection from unfair business practices? — Stronger regulation of outsourced financial services can lead to better protections for consumers of those services. Does this make the government pay for what it commits to? — Increased oversight of financial service providers improves systemic stability and fiscal risk management.
- Demographic And Interest Groups
- Would business owners be better off under this? — Service providers in the financial sector face increased regulatory burdens and more frequent examinations.
- 9/2/2026
- Referred to the House Committee on Financial Services.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.