# 119-hr-10230: Strengthening Oversight for the Financial Sector Act of 2026 119-hr-10230, Strengthening Oversight for the Financial Sector Act of 2026, is a 119th Congress bill sponsored by Rep. Foster, Bill [D-IL-11] (D-IL); status introduced; PRIA reads it as touching household money (as of 2026-09-12). - Canonical: https://policyrisk.com/legislation/119-hr-10230 - As of: 2026-09-12 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: 119-hr-10230 - Congress: 119 - Title: Strengthening Oversight for the Financial Sector Act of 2026 - Status: introduced - Introduced: 2026-09-02 - Sponsor: Rep. Foster, Bill [D-IL-11] (D-IL) - Cosponsors: 0 - Policy area: Finance and Financial Sector - Touches household money: yes - Last recorded action: 2026-09-12 ## Summary **Expands federal oversight of third-party service relationships at credit unions and housing finance entities.** The bill would change how credit unions notify the Board and give the Federal Housing Finance Agency Director clear authority to regulate and examine services performed for regulated entities as if done on their own premises. - Credit unions and their vendors would face a new notification rule that requires telling the Board in a manner the Board prescribes, and the bill removes subsection (f) of Section 206A of the Federal Credit Union Act. - Entities supervised by the Federal Housing Finance Agency and the Office of Finance would have third-party activities treated as if performed by the entity itself, and must notify the FHFA Director within 30 days after a service contract is made or the activity is first performed. - States keep their existing power to regulate these entities and their service providers, so federal oversight is applied without stripping State authority. ## Provisions PRIA read - FHFA oversight of service providers: benefit, medium. If enacted, FHFA-regulated entities and the Office of Finance would have to tell the FHFA Director about a service relationship within 30 days. The 30-day clock would start after a service contract is made or after services begin, whichever happens first. Activities done for those entities by contr… - New notice rules for credit unions: cost, low. If enacted, entities that must notify the National Credit Union Administration Board under Section 206A would have to send that notice "in a manner and method prescribed by the Board." The change would take effect upon enactment and mainly affects federal credit unions and others who file those not… - Repeal of a credit union rule: mixed, low. If enacted, the bill would remove subsection (f) of Section 206A of the Federal Credit Union Act. The repeal would take effect upon enactment and apply to entities governed by that section. The text provided does not say what subsection (f) currently required, so the change could either reduce regu… ## Related bills - 119-hr-7977: Energy Bills Relief Act - 119-hr-7973: Momnibus Act - 119-hr-2725: Affordable Housing Credit Improvement Act of 2025 - 119-hr-7853: PrEP Access and Coverage Act of 2026 - 119-hr-5862: American Energy Independence and Affordability Act - 119-hr-5361: George Floyd Justice in Policing Act of 2025 ## Sources - [119-hr-10230 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/10230) ## Related - [119-hr-7977: Energy Bills Relief Act](https://policyrisk.com/legislation/119-hr-7977) - [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973) - [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725) - [119-hr-7853: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-hr-7853) - [119-hr-5862: American Energy Independence and Affordability Act](https://policyrisk.com/legislation/119-hr-5862) - [119-hr-5361: George Floyd Justice in Policing Act of 2025](https://policyrisk.com/legislation/119-hr-5361) - [All bills in Congress](https://policyrisk.com/legislation) Source: PRIA, https://policyrisk.com/legislation/119-hr-10230 (as of 2026-09-12).