The U.S. House Committee on Financial Services voted to report five bills to the House of Representatives, advancing measures spanning national security-related industrial authorities, community bank formation, securities-law exemptions for early-stage fundraising, secondary-market regulatory preemption, and U.S. positions at international financial institutions. The committee approved the DPA Modernization Act of 2026 (H.R. 7688) by 41-0 to modernize and reauthorize the Defense Production Act through 2031, including updates to authorities to prioritize contracts and mobilize domestic industry, strengthen critical supply chains, and support U.S. manufacturing capacity during emergencies. It also reported the Main Street Capital Access Act (H.R. 6955) by 26-16 to “revitalize local bank formation,” the Save Our Shrimpers Act (H.R. 2071) by 42-1 to require U.S. opposition to international financial institution projects involving foreign shrimp production, the SEED Act of 2025 (H.R. 4171) by 26-17 to create a Securities Act of 1933 exemption enabling small businesses and startups to raise limited early-stage capital without certain disclosure and filing requirements, and the Restoring the Secondary Trading Market Act (H.R. 7127) by 26-17 to preempt certain state blue sky rules for qualifying off-exchange secondary transactions. The bills now proceed to the full House for further consideration.
U.S. Financial Services Committee 2026-03-05
U.S. House Committee on Financial Services reports five bills on Defense Production Act reauthorization and capital access reforms
The U.S. House Committee on Financial Services advanced five bills to the House, focusing on national security, community bank formation, securities-law exemptions, secondary-market regulation, and U.S. roles in international finance. Key measures include the DPA Modernization Act of 2026, the Main Street Capital Access Act, and the SEED Act of 2025. The full House will now consider these bills.