Strengthening Oversight for the Financial Sector Act of 2026
The source supplies the latest action, but no lifecycle stage.
Latest action (2 Sep 2026): Referred to the House Committee on Financial Services.
What this bill does
H.R. 10230, the "Strengthening Oversight for the Financial Sector Act of 2026," was introduced by Rep. Bill Foster on September 2, 2026, and referred to the House Committee on Financial Services. It would make two main changes to federal financial regulation law.
First, it amends the Federal Credit Union Act's provisions governing oversight of credit union service organizations. It adjusts language describing which entities fall under that oversight, requires that notifications to the National Credit Union Administration Board be made in a manner and method the Board prescribes, and removes an existing subsection of that law. Second, it adds a new section to the Federal Housing Enterprises Financial Safety and Soundness Act giving the Director of the Federal Housing Finance Agency (FHFA) authority to regulate and examine outside service providers used by government-sponsored enterprises (such as Fannie Mae and Freddie Mac) and the Federal Home Loan Banks, treating contracted-out activities the same as if performed in-house. Entities must notify the Director within 30 days of establishing such a service arrangement. The bill also clarifies that this does not limit states' existing regulatory powers.
The bill primarily affects credit unions and their service organizations, the government-sponsored housing enterprises, the Federal Home Loan Banks, and their third-party vendors, by expanding federal regulators' oversight reach over outsourced activities. As an introduced bill, it must be considered by the Financial Services Committee before any further House or Senate action; no committee or floor votes have yet occurred.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
2 Sep 2026
Referred to the House Committee on Financial Services.
Common questions
- What does H.R. 10230 do?
- H.R. 10230, the "Strengthening Oversight for the Financial Sector Act of 2026," was introduced by Rep. Bill Foster on September 2, 2026, and referred to the House Committee on Financial Services. It would make two main changes to federal financial regulation law. First, it amends the Federal Credit Union Act's provisions governing oversight of credit union service organizations. It adjusts language describing which entities fall under that oversight, requires that notifications to the National Credit Union Administration Board be made in a manner and method the Board prescribes, and removes an existing subsection of that law. Second, it adds a new section to the Federal Housing Enterprises Financial Safety and Soundness Act giving the Director of the Federal Housing Finance Agency (FHFA) authority to regulate and examine outside service providers used by government-sponsored enterprises (such as Fannie Mae and Freddie Mac) and the Federal Home Loan Banks, treating contracted-out activities the same as if performed in-house. Entities must notify the Director within 30 days of establishing such a service arrangement. The bill also clarifies that this does not limit states' existing regulatory powers. The bill primarily affects credit unions and their service organizations, the government-sponsored housing enterprises, the Federal Home Loan Banks, and their third-party vendors, by expanding federal regulators' oversight reach over outsourced activities. As an introduced bill, it must be considered by the Financial Services Committee before any further House or Senate action; no committee or floor votes have yet occurred.
- Has H.R. 10230 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 10230. Check the latest action and official source below.
- Who sponsored H.R. 10230?
- H.R. 10230 was sponsored by Rep. Foster, Bill [D-IL-11] (D-IL), with 0 cosponsors.
- What's the latest action on H.R. 10230?
- Referred to the House Committee on Financial Services. (2 Sep 2026).
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