The U.S. House Committee on Financial Services announced that the House of Representatives passed six bipartisan bills covering HUD oversight, capital formation and venture capital exemptions, WKSI eligibility and reporting, U.S. policy on World Bank financing for Burma, and transparency requirements when the Federal Deposit Insurance Corporation invokes the systemic risk exception. The package includes the HUD Transparency Act (H.R. 225), requiring the HUD Inspector General to provide annual testimony by October 1 to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs; the DEAL Act of 2025 (H.R. 4429), amending the “venture capital fund” definition so an investment in another venture capital fund can count as a “qualifying investment”; and the Expanding WKSI Eligibility Act (H.R. 4430), lowering the public float threshold for Well-Known Seasoned Issuer status to USD 400 million from USD 700 million and directing the Securities and Exchange Commission to publish totals for WKSI waiver applications and withdrawals. The ICAN Act of 2025 (H.R. 4431) raises the Qualifying Venture Capital Fund Exemption cap on aggregate capital contributions and uncalled capital commitments to USD 50 million from USD 10 million and increases allowable beneficial owners to 500 from 250, with a study and report to Congress required five years after enactment and potential SEC threshold adjustments. The No New Burma Funds Act (H.R. 4423) would require the U.S. to use its voice and vote to continue the World Bank’s pause on disbursements and new financing commitments to Burma’s government, and the Systemic Risk Authority Transparency Act (H.R. 3716) would require the Government Accountability Office and relevant federal banking regulators to issue reports within specified timeframes when the FDIC uses the systemic risk exception, covering failure causes, regulatory actions, and management or supervisory shortcomings.
U.S. Financial Services Committee 2025-12-01
U.S. House Committee on Financial Services bills pass the House on HUD transparency capital formation and systemic risk exception reporting
The U.S. House Committee on Financial Services passed six bipartisan bills on HUD oversight, capital formation, WKSI eligibility, World Bank financing for Burma, and FDIC transparency. Key measures include the HUD Transparency Act requiring annual HUD Inspector General testimony, the DEAL Act amending venture capital fund definitions, and the Expanding WKSI Eligibility Act lowering the public float threshold. The ICAN Act raises the cap on venture capital fund exemptions, while the No New Burma Funds Act and the Systemic Risk Authority Transparency Act address World Bank financing and FDIC systemic risk exception transparency.