The U.S. House Committee on Financial Services voted to report six bills and one resolution to the full House of Representatives, advancing proposals on terrorism risk insurance, bank and financial institution regulatory thresholds, illicit finance tied to cyber crime and digital assets, public company engagement at the Securities and Exchange Commission, and selected disclosure and reporting requirements. The Committee approved the TRIA Program Reauthorization Act of 2026 (H.R. 7128) by 51–2 to reauthorize the Terrorism Risk Insurance Act framework for terrorism risk coverage. It also adopted a resolution on the use of artificial intelligence in the financial services and housing industries (H.Res. 1007) by 54–0, emphasizing oversight, enforcement of existing laws, and consumer protections alongside a pro-innovation approach. Other measures reported include the Community Bank Regulatory Tailoring Act of 2026 (H.R. 7056), passed 33–21, which indexes various asset-based regulatory thresholds to nominal GDP for community banks and small credit unions, and the Combatting Money Laundering in Cyber Crime Act of 2026 (H.R. 5877), passed 54–0, directing improved coordination, information sharing, and investigative tools for illicit activity linked to digital assets. The Financial Reporting Threshold Modernization Act (H.R. 1799), passed 30–24, would update financial reporting thresholds to reflect inflation while preserving reporting intended to combat illicit finance. The Public Company Advisory Committee Act of 2025 (H.R. 6967), passed 39–15, would establish a Public Company Advisory Committee at the SEC to provide structured input and surface technical or implementation issues with regulations. A separate bill (H.R. 7085), passed 30–24, would repeal certain conflict minerals-related disclosure requirements under the Securities Exchange Act of 1934. The bills and resolution now proceed to the House of Representatives for further consideration.

Original source View in tracker