Banking regulators must report on outdated tech holding back supervision

What it does

This bill requires six federal banking regulators (the Federal Reserve, CFPB, FDIC, Treasury/OCC, FHFA, and NCUA) to assess their technological capabilities and procurement practices within 180 days, then report jointly to Congress every 5 years on their hardware, software, staffing, data-sharing, and plans to modernize their supervisory systems. The bill aims to ensure regulators have real-time information and modern tools to monitor banks, detect risks, and enforce consumer protection and anti-money-laundering rules.

Why we flagged it

The bill's core mechanism is a mandatory assessment and reporting requirement designed to improve regulatory effectiveness through technology modernization. It is a transparency and accountability measure, not a deregulation or industry carve-out.

What the text implies

• The bill does not mandate specific technology upgrades or timelines—it only requires assessment and reporting. Actual modernization depends on future appropriations and agency discretion, creating a gap between transparency and action.
• Reporting every 5 years may allow significant technology drift between assessments, particularly in fast-moving areas like AI and cybersecurity.
• The bill requires agencies to estimate costs for supervised entities to modify systems for data-sharing, but does not authorize funding or impose limits on those costs, potentially shifting modernization burdens to banks and ultimately consumers.
• Agencies retain discretion to withhold sensitive information from Congress on grounds of 'integrity or security,' potentially limiting congressional oversight of the very modernization efforts the bill aims to illuminate.

Section numbers refer to the bill text the analysis read — linked under Primary records below.

Who it affects

The bill strengthens regulatory transparency and accountability by requiring agencies to assess and report on their supervisory technology, enabling Congress and the public to understand whether regulators have adequate tools to detect bank failures, fraud, and illicit activity. Modernized supervisory technology directly benefits citizens by improving the safety and soundness of the banking system and consumer protection.

Who stands to gain

• technology vendors and contractors hired by federal banking regulators
• consulting firms advising on procurement and technology modernization

Named in the bill

Board of Governors of the Federal Reserve System, Bureau of Consumer Financial Protection (CFPB), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), Financial Crimes Enforcement Network (FinCEN), Federal Housing Finance Agency (FHFA), National Credit Union Administration (NCUA), House Committee on Financial Services, Senate Committee on Banking, Housing, and Urban Affairs

Where it stands

1 cosponsor: 1 Democrats.

• Apr 14, 2026 — Introduced · Congress.gov: “Introduced in House”
• Apr 14, 2026 — Referred to House Committee on Financial Services and Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Referred to the House Committee on Financial Services”
• May 13, 2026 — Markup held in committee · Congress.gov: “Committee Consideration and Mark-up Session Held”
• May 13, 2026 — Reported out of committee · Congress.gov: “Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0”
• Sep 14, 2026 — Floor vote scheduled · Congress.gov: “Ms. De La Cruz moved to suspend the rules and pass the bill, as amended”
• Sep 15, 2026 — Passed the House · Congress.gov: “On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required)…”

Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.

Money around this bill

4 lobbying clients named this bill on 4 disclosure filings across 1 quarter, Jun 2026 to Jun 2026. Those filings disclosed $5,800,000 in lobbying spend. A filing names 36 bills on average, so that figure is what each filing reported, not a share belonging to this bill.

More lobbying clients named this bill than 72% of bills with at least one filing.

Marlin Stutzman, the sponsor, reported $354,905 in PAC receipts in the 2026 cycle. $1,000 of that came from 1 PAC tied to these lobbying clients.

• National Multifamily Housing Council Inc — $2,330,000 on 1 filing
• Independent Community Bankers of America — $2,170,000 on 1 filing
• Jpmorgan Chase Holdings LLC — $1,190,000 on 1 filing
• American Fintech Council — $110,000 on 1 filing

Lobbying Disclosure Act filings through Jul 20, 2026. A filing shows who paid to lobby on a bill it names, not what changed.