Bill would let people borrow money to buy risky stocks faster.
H.R. 10553 — Margin Eligibility Modernization Act · Filed by Andrew Garbarino (R-NY) · 1 cosponsor · Introduced Sep 24, 2026 · Referred to committee
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What it does
The bill tells the Federal Reserve to expand margin loans. People could use over-the-counter stocks as collateral. The Fed has 90 days to make this rule. If the Fed does not act, the rule happens anyway. The Fed must report back in 5 years about credit risks.
Who it affects
Retail investors could borrow more easily to buy over-the-counter stocks. Broker-dealers and margin lenders would make more loans. Over-the-counter stocks are less regulated and more volatile than big exchange stocks.
One thing to notice
If the Fed does not write the rule in 90 days, it takes effect automatically. The 5-year report cannot stop or change the rule if problems happen.
From the analysis of the bill text, linked under Primary records below.
Where it stands
1 cosponsor: 1 Republicans.
- Sep 24, 2026 — Introduced · Congress.gov: “Introduced in House”
- Sep 24, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- collateral — Something you own that you promise to give up if you cannot pay back a loan.
- over-the-counter stocks — Stocks traded between dealers, not on a big exchange.
- Federal Reserve — The central bank of the United States that makes rules about money and credit.
- retail investors — Regular people who buy and sell stocks for themselves.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (1,507 characters) on Sep 28, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-10-20.
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