U.S. House Financial Services Committee advances 10 bills, reauthorizes monetary policy task force

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House advances 10 bills and task force

Highlights

House Financial Services Committee approves 10 bills, including H.R. 9329 to streamline SEC structure and H.R. 1483 to limit investor data collection.
Consumer and fraud-focused legislation passes, with H.R. 9331 granting banks more flexibility on suspected payment fraud and H.R. 9330 regulating earned wage access services.
Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity reauthorized to continue oversight and examination of key financial stability policies.

Committee package targets regulatory and market reforms

The House Committee on Financial Services says the measures reflect its broader push to support economic growth, protect market integrity, strengthen confidence in the financial system and reinforce regulatory frameworks.

Among the measures, H.R. 1483, the Protecting Investors’ Personally Identifiable Information Act, passes 27-21 and seeks to limit unnecessary collection and disclosure of sensitive investor data to the consolidated audit trail. H.R. 9329, the SEC Reform and Restructuring Act, passes 28-23 and aims to streamline the Securities and Exchange Commission’s structure, improve rulemaking and increase accountability.

The committee also advances H.R. 7187, the Clarity for Compensation Act, by a 51-0 vote to provide greater legal clarity for compensation arrangements by professional service entities. H.R. 5775, the FCRA Liability Harmonization Act, passes 27-23 and would revise civil liability standards under the Fair Credit Reporting Act while preserving consumers’ ability to recover actual damages.

H.R. 8141, the Fair Credit Reporting Reseller Accuracy Act, passes by voice vote and clarifies responsibilities for credit report resellers under the FCRA. H.R. 5402, the Credit Access and Inclusion Act of 2025, passes 28-23 and would allow certain recurring payment data, including rent and utility payments, to be reported to consumer reporting agencies.

Consumer finance and fraud measures move forward

Other bills in the package focus on payment fraud, fintech oversight and property rights. H.R. 9331, the Strengthening Transaction Oversight and Preventing Payments Fraud Act of 2026, passes 51-0 and would give financial institutions more flexibility to place holds on transactions when fraud is suspected, including on wire transfers.

H.R. 9330, the Earned Wage Access Consumer Protection Act, passes 29-22 and would establish a federal regulatory framework for earned wage access services alongside consumer protections. H.R. 1640, the HEIRS Act of 2025, passes 51-0 and would allow HUD to create a program supporting states and localities that adopt heirs property best-practices laws, including grants to help owners document property rights and cover legal costs.

The committee also approves a resolution reauthorizing the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity. The bipartisan group, chaired by Rep. Frank Lucas, continues examining monetary policy, Treasury market resilience and policies intended to promote long-term economic prosperity.

Our earlier coverage of the U.S. Treasury’s OFAC action against a PCC-linked money-laundering network explained how sanctions were imposed on two Brazilian nationals and several associated companies, with U.S.-linked assets blocked and most transactions prohibited without authorization. We also noted that the move raises compliance risks for banks and counterparties, as foreign financial institutions that facilitate significant transactions for designated persons may face secondary sanctions.

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