S. 1318 Foreign Intelligence Accountability Act Hearing Scheduled April 27

The House Rules Committee has posted a hearing notice for S. 1318, the Foreign Intelligence Accountability Act, a Senate bill being considered under a House Rules Committee Print. The hearing is scheduled for April 27, 2026 at 1:00 p.m. A proposed Republican amendment would prohibit the Federal Reserve from studying, developing, or issuing a central bank digital currency. Parties interested in the bill's treatment of foreign intelligence oversight or its implications for Federal Reserve monetary authority should monitor this hearing and consider submitting testimony or comments to the Committee.

For compliance and legal professionals, this hearing signals active legislative consideration of a bill that, if enacted, could affect how foreign intelligence activities are overseen and could restrict future Federal Reserve exploration of digital currency. The amendment targeting the Fed's CBDC authority adds a financial-services dimension to what is primarily a national security bill.