Legislation· Sep 2026Sponsored by Marlin A. Stutzman (R)
Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act
Requires federal financial regulators to assess their technology and procurement practices every five years.
Tradeoff
Mandates reports on banking regulators' tech capabilities and procurement rules. No budget impact or cost stated in the bill.
What's in it
Increases the deficit by $2 million over 10 years (2026–2036).
The $2 million federal deficit increase is just the cost for regulators to conduct technology assessments and file reports; the bill's real impact falls on financial regulators' procurement processes and potentially on the banks and financial companies they supervise that must participate in technology testing.
Passed the House 417-7 on September 15, 2026 — sitting in the Senate.
House
Introduced
(Apr 14, 2026)
House
Committee on Financial Services(Apr 14, 2026)
House
The Committee on Financial Services voted to send it to the floor
Reported 52 - 0(May 13, 2026)
Committee report H. Rept. 119-711.
House
On Motion to and Pass, as Amended
Passed(Roll #302 · Sep 15, 2026)
417 yeanay 7Senate
Received from the House
on Banking, Housing, and Urban Affairs(Sep 16, 2026)
- Bill Foster (D-IL)
Passage votes so far· Sep 15, 2026· 119th Congress · 2025–2027