PACE Act of 2026
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, PACE Act of 2026, changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Transportation, Technology.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H5EC99C076F9B470DB19D4C4797EBE0ED: 1. Short title This Act may be cited as the Payments Access and Consumer Efficiency Act of 2026 or the PACE Act of 2026.
- Section H951C4FCF0FA2417ABFEC877B2B4772AC: 2. Definitions In this Act: The term Board of Governors means the Board of Governors of the Federal Reserve System. The term Comptroller means the Comptroller...
- Section H3A792D61D89A4CEAA8DDD0E27474E896: 3. Federal registration of eligible state payment service providers A covered provider may submit an application to register with the Comptroller to become a...
- Section H475D6E1321F34613977B2ABB02FA960C: 4. Customer protection standards A registered covered provider shall maintain identifiable reserves backing outstanding payment obligations on at least a 1 to...
- Section HDEA3A7AC54224CCA9A8017B956D707D4: 5. Risk management standards and fair access The Comptroller shall ensure that a registered covered provider shall be subject to the capital, liquidity, and...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, PACE Act of 2026, changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Transportation, Technology
Primary Purpose
This bill, PACE Act of 2026, changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Young Kim
R-CA | Primary Sponsor
Legislative Progress
In CommitteeReferred to the House Committee on Financial Services.
Introduced in House
Mrs. Kim (for herself and Mr. Liccardo) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
Key Definitions
Terms defined in this bill
a person that provides payment services and— holds at least 40 active money transmitter licenses issued in accordance with the laws of each applicable State in which the applicant seeks to offer such payment services
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology