Federal Legislation
Congress Enacts REVIEW Act for Financial Regulators
February 25, 2026
Congress has enacted the Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow (REVIEW) Act of 2025, mandating federal financial regulatory agencies to conduct more frequent and comprehensive reviews of their regulations. The review cycle is shortened from every 10 years to every 7 years, requiring agencies such as the Federal Reserve Board, FDIC, OCC, and NCUA to assess the cumulative impact of regulations on consumers, firms, credit availability, and the financial system. This legislation aims to streamline regulatory frameworks and reduce unnecessary burdens, potentially affecting regulatory compliance requirements and oversight processes for financial institutions and contractors supporting these agencies.
- Why this matters: Procurement professionals supporting federal financial regulators should anticipate increased regulatory review activities and potential updates to compliance requirements that may impact contract scopes and deliverables.
- Agencies involved include the Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), National Credit Union Administration (NCUA), and the Federal Financial Institutions Examination Council (FFIEC).
- Contractors providing regulatory compliance, consulting, or IT services to these agencies may see new opportunities to assist with enhanced workflow implementations and regulatory impact assessments.
- Organizations should prepare for more frequent engagement cycles and potential adjustments in contract terms reflecting the accelerated regulatory review timeline.
This bill would require agencies to publish their findings, and given that courts have acted to increasingly restrain what Federal regulators can do, this analysis could be used by industry in suing to block the implementation of the agency's rulemakings.
— Minority Views by Maxine Waters et al.
Agencies
Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, National Credit Union Administration, Federal Financial Institutions Examination Council