Senate Committee on Banking, Housing, and Urban Affairs

Digital Asset Market Clarity Act

Digital Asset Market Clarity Act of 2025 or the CLARITY Act of 2025 This bill establishes a regulatory framework for digital commodities, defined by the bill as digital assets that rely upon a blockchain for their value. The Commodity Futures Trading Commission must generally regulate digital commodities transactions, including digital commodity exchanges, brokers, and dealers. To qualify for trade on an exchange (1) a digital commodity’s blockchain must be mature, or on a blockchain system that has achieved decentralized control as defined by the bill; or (2) the issuer of the digital commodity must file certain reports. The bill establishes requirements for trade monitoring, recordkeeping, and the commingling of customer assets. The bill exempts digital commodities on mature blockchains (and digital commodities on blockchains expected to mature within certain timeframes) from Securities and Exchange Commission (SEC) registration requirements if annual sales fall under a certain amount and other requirements are met. The bill provides the SEC with jurisdiction over digital commodity activities and transactions engaged in by certain brokers and dealers on alternative trading systems and by national securities exchanges. Digital commodity exchanges, brokers, and dealers are subject to the Bank Secrecy Act for anti-money laundering and related purposes. The bill also sets forth requirements for alternative trading systems, previously issued digital commodities, and provisional registration until the bill is implemented. For more information on this bill, see CRS Insight IN12583, Crypto Legislation: An Overview of H.R. 3633, the CLARITY Act .

Community Bank Deposit Access Act of 2025

Community Bank Deposit Access Act of 2025 This bill changes the treatment of certain types of deposits so they are no longer classified as brokered deposits. Brokered deposits are funds placed by a broker on behalf of a client in a depository institution to maximize interest rates and for depository insurance purposes. Currently, institutions that accept brokered deposits may be subject to additional oversight. In particular, under the bill, custodial deposits at insured depository institutions with less than $10 billion in total assets shall not be treated as brokered deposits if the deposits do not exceed 20% of the institution’s liabilities. The institution must be well-capitalized and have a specified minimum soundness rating, or be in possession of a waiver from the Federal Deposit Insurance Corporation. The bill also generally applies existing interest rate limits applicable to institutions that are not well-capitalized to similar institutions that accept custodial deposits.

A bill to prohibit the provision of Federal funds to State and local governments and school districts for payment of obligations, to prohibit the Federal Reserve banks, the Department of the Treasury, and other Federal agencies from financially assisting State and local governments and school districts that have defaulted on their obligations, and for other purposes.

The bill would prevent the federal government from giving money to states, cities, and school districts that fail to pay their debts, and would block the Federal Reserve and Treasury Department from providing financial assistance to these governments if they default on their obligations. This would affect state and local governments, school districts, and potentially the services they provide to residents if they face financial crises. The measure aims to enforce financial responsibility by cutting off federal aid to governments that don't meet their payment obligations.

Stop Stealing our Chips Act

Stop Stealing our Chips Act This bill creates a whistleblower incentive program and establishes whistleblower protections for individuals who provide information to the Department of Commerce's Bureau of Industry and Security (BIS) related to violations of U.S. export control laws. Currently, BIS administers and enforces controls on the export of dual-use goods (e.g., items with both civilian and military uses) and certain military parts and components. These export controls are implemented primarily under the Export Control Reform Act of 2018 (ECRA) through the Export Administration Regulations. Under the bill, BIS must establish a whistleblower incentive program to reward individuals who voluntarily report original information that results in BIS imposing fines under ECRA on persons that violate, attempt to violate, conspire to violate, or cause a violation of ECRA or any related regulation, order, license, or authorization. Additionally, BIS must establish a secure online portal for whistleblowers to report violations of ECRA. The bill outlines requirements for BIS to review, investigate, and provide status updates related to these reports. The bill authorizes BIS to pay an award to any whistleblower who voluntarily reported original information that led to the imposition of a fine under ECRA. The bill establishes the Export Compliance Accountability Fund for paying these awards and funding related activities. The bill also sets forth whistleblower protections by (1) prohibiting retaliation against individuals who act as whistleblowers, and (2) establishing confidentiality requirements.

American Access to Banking Act

American Access to Banking Act This bill requires federal financial regulators to review and streamline the application process for the formation of de novo, or new, depository institutions or credit unions. Regulators must (1) review the application process; (2) to the extent practicable, collect necessary information from other agencies in order to minimize requests for applicant information; and (3) review how de novo financial intuitions raise capital while maintaining investor protections, including the impact of restrictions on raising capital. At the request of an applicant, regulators must (1) designate an employee as a caseworker to assist in the application process, and (2) provide a list of similar institutions interested in serving as a mentor. Each regulator must also develop a state and stakeholder engagement plan to assist interested parties with understanding the relevant regulatory processes.

A bill to strengthen transparency over efforts by the Department of the Treasury to use the Exchange Stabilization Fund to aid foreign countries without prior notification to Congress.

The Treasury Department currently has broad authority to use a special fund called the Exchange Stabilization Fund to provide financial assistance to foreign countries, sometimes without telling Congress first. This bill would require the Treasury Department to notify Congress before using this fund to help other nations, making the process more transparent and giving lawmakers a chance to review these decisions. The change would affect how the federal government conducts international financial assistance and ensure Congress has oversight over these spending decisions.

Keeping Deposits Local Act

This bill increases the amount insured depository institutions may accept as reciprocal deposits. (Reciprocal deposits are used by institutions to increase the availability of deposit insurance by splitting large deposits using a reciprocal network of institutions.) The bill creates a tiered system so that the allowable amount is based on the institution's total liabilities. Additionally, the bill changes certain qualifications insured depository institutions may be required to have to accept reciprocal deposits. Under current law, institutions may qualify by having a composite rating of outstanding or good, among other requirements. The bill allows institutions with a 1, 2, or 3 rating under the CAMELS scale to qualify. (The Uniform Financial Institutions Rating System uses the characteristics of capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk (i.e., CAMELS ratings) to rate the health of financial institutions, with a 1 indicating the highest rating and least degree of supervisory concern and a 5 indicating the lowest rating and highest degree of supervisory concern.)

PATCH Act

Medical debt would no longer appear on credit reports that lenders and other companies use to decide whether to give people loans or credit. This change would prevent unpaid medical bills from damaging someone's credit score, which currently can make it harder to get a mortgage, car loan, or credit card. The proposal affects consumers who have medical debt and the credit reporting agencies that compile financial information about borrowers.

CCP Sanctions Shot Clock Act

The bill would expand a government list that identifies Chinese companies with military connections, requiring certain foreign individuals and entities associated with these companies to be included on the Non-SDN Chinese Military-Industrial Complex Companies List. This list is used to restrict U.S. investment and business dealings with these organizations as a national security measure. The change would affect American investors, companies doing business with China, and financial institutions that need to comply with these restrictions.

Discount Window Preparedness Act

The Federal Reserve would be required to regularly test its discount window—the emergency lending system that banks use during financial crises—to ensure it works properly when needed. This testing requirement would help identify and fix any problems in the system before a real emergency occurs, protecting banks and the broader financial system from unexpected failures. The bill is currently under review by the Senate Banking Committee.

Chinese CBDC Prohibition Act of 2026

Money services businesses like payment processors and money transfer companies would be banned from handling transactions involving China's digital currency, which is a government-controlled electronic form of money. The law aims to prevent U.S. financial companies from facilitating the use of this Chinese digital currency within American commerce. This would affect banks, payment apps, and other financial service providers that currently process international transactions.

Advancing the Mentor-Protégé Program for Small Financial Institutions Act

Advancing the Mentor-Protégé Program for Small Financial Institutions Act This bill establishes the Financial Agent Mentor-Protégé Program within the Department of the Treasury. The program provides participating minority and rural depository institutions and small financial institutions with mentorship from large financial institutions or from financial agents designated by Treasury. This mentorship prepares protégé institutions to improve service capacity or to perform as financial agents for the federal government.

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Debt Collection Practices (Regulation F); Deceptive and Unfair Collection of Medical Debt".

Congress is considering blocking a decision by the Consumer Financial Protection Bureau to withdraw its protections against deceptive debt collection practices for medical bills. If approved, this resolution would force the agency to keep its rules in place that limit how aggressive debt collectors can be when pursuing people for unpaid medical debts. This affects millions of Americans who struggle with medical debt and the debt collection companies that pursue them.

Let Kids Play Act

The legislation would prevent investment firms known as "vulture investors" from buying stakes in youth sports organizations and leagues. These types of investors typically purchase struggling companies or assets at steep discounts with the goal of making quick profits, often by cutting costs or restructuring operations in ways that can harm the organizations they acquire. The bill aims to protect youth sports programs from this investment approach to preserve their community-focused missions.

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports".

Congress is trying to block a decision by the Consumer Financial Protection Bureau to withdraw a rule that regulated how credit reporting companies can share and use consumer credit information. If approved, this would force the agency to keep the original rule in place, which sets limits on who can access your credit report and for what purposes. This affects anyone with a credit history and the financial companies that use credit reports to make lending decisions.

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Fair Credit Reporting; Background Screening".

Congress is considering blocking a recent decision by the Consumer Financial Protection Bureau to withdraw its rules protecting people's credit information when used for background screening by employers and landlords. If approved, this would force the agency to keep those protections in place, preventing companies from using credit reports for background checks without following strict fairness requirements. The resolution targets workers and renters who could be denied jobs or housing based on their credit history.

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans".

Congress is considering blocking a decision by the Consumer Financial Protection Bureau to withdraw a rule that would have required "buy now, pay later" companies to disclose loan terms clearly to borrowers through digital accounts. If approved, this resolution would force the agency to keep the disclosure rule in place, ensuring consumers get transparent information about the costs and terms when they use services that let them split purchases into installments. The resolution targets a specific regulatory action rather than creating new law, and would primarily affect buy now, pay later lenders and their customers.

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Statement of Policy Regarding Prohibition on Abusive Acts or Practices".

Congress is considering blocking a decision by the Consumer Financial Protection Bureau to withdraw its policy against abusive financial practices by banks and lenders. If approved, this would force the agency to keep its protections in place that prevent financial companies from treating consumers unfairly. The resolution would affect millions of Americans who use banking and financial services by maintaining existing consumer safeguards.

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to withdrawal of the rule relating to "Consumer Financial Protection Circular 2024-05: Improper Overdraft Opt-In Practices".

Congress is considering blocking a Consumer Financial Protection Bureau decision to withdraw its guidance against banks using misleading tactics to get customers to opt into overdraft fees. If approved, this would keep the bureau's protections in place that aim to prevent banks from tricking people into paying overdraft charges they didn't knowingly agree to. The measure affects banks and their customers who use checking accounts.

Rural Depositories Revitalization Study Act

Federal banking regulators would be required to study why rural banks are closing and what could help bring banking services back to communities that have lost them. The study would examine the challenges rural banks face and recommend solutions to help revitalize banking in these areas. This would affect rural communities, small banks, and federal banking agencies like the Federal Reserve and the FDIC.