GENIUS Act of 2025

General issues around legislation related to stablecoins; including H.R. 2392 - STABLE Act of 2025 and S.919 - GENIUS Act of 2025.

Client expense: Not reported · Firm income: $120,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 3633 Digital Asset Market Clarity Act, all provisions. S 3660 Credit Card Fairness Act, all provisions. Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. S 3623 Credit Card Competition Act of 2026, all provisions. Issues pertaining to the SNAP program. S 4784 An original bill to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes / HR 8800 National Defense Authorization Act for Fiscal Year 2027, all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations.

Client expense: Not reported · Firm income: $30,000

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE

Issues related to stablecoin legislation implementation; S. 919 - Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, Issues related to AML requirements: H.R. 2824 - Financial Technology Protection Act of 2025; Issues related to market structure: H.R.3633 - Digital Asset Market Clarity Act, Responsible Financial Innovation Act of 2025; Senate Banking's market structure legislation (Markup of H.R.3633), Senate Agriculture's Digital Commodity Intermediaries Act (S. 3755), Blockchain Regulatory Certainty Act (H.R. 3533, S. 3611); H.R.8957 - American Reserve Modernization Act of 2026; H.R.2978 - GUARD Act

Client expense: $300,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to crypto & digital assets including 1) digital assets market structure initiatives such as H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act and Senate companion drafts such as S. 4356, the Responsible Financial Innovation Act (RFIA) and S. 3755, the Digital Commodity Intermediaries Act and 2) Stablecoins legislation clarification including S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act) Issues related to including digital assets in registered investment companies and the taxation of digital assets, including H.R. 9175, the Tax Clarity for Mining and Staking Act Increases in the stock buyback excise tax included in FY27 National Defense Authorization Act (NDAA) - H.R. 8800 and S. 4784 Various reconciliation issues in H.R.1, the One Big Beautiful Bill Act, including section 899 and implementation of Trump accounts Treasury meetings about Trump accounts. Protecting closed-end funds from activist investors and enhancing retail investor access to alternative investments & private markets - H.R. 3383, the Increasing Investor Opportunities Act Capital formation initiatives included in H.R. 3383, the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act (note same bill number as the CEF bill - two bills combined) and possible Senate companion legislation, the Empowering Main Street in America Act (EMSAA) Promoting inclusion of alternative investments in retirement plans, including H.R. 2544 & S. 1222, the Financial Freedom Act and H.R. 5748, the Retirement Investment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Professional Experts Act Clarifications about restrictions on outbound investments to China included in the National Defense Authorization Act (NDAA) S. 1071 including the COINS Act, the Comprehensive Outbound Investment National Security Act of 2025 Business Development Company issues including H.R. 2225 & S. 1808 - the Access to Small Business Investor Capital Act E-delivery initiatives including H.R. 2441 & S 1877, the Improving Disclosure for Investors Act Retirement security initiatives, including S. 424 and H.R. 1013, the Retirement Fairness for Charities and Educational Institutions Retirement savings initiatives including promoting tax deferral for individuals participating in voluntary, employer provided retirement plans and IRAs and H.R. 2696 and S. 1526, the Retirement Savings for Americans Act (RSAA) that would create a federal retirement system ERISA litigation reform efforts such as H. R. 6084, the ERISA Litigation Reform Act Congressional oversight of ESG investing including proxy voting by asset managers and various legislative initiatives H.R. 3682 and S. 3578, the FSOC Improvement Act which reforms the Financial Stability Oversight Councils non-bank Systematically Important Financial Institution (SIFI) designation process.

Client expense: $270,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Issues related to banking and credit unions; issues related to cannabis banking; issues related to deposit insurance; issues related to interchange; issues related to payment networks; issues related to consumer protection rules and regulations; issues related to rules and legislation affecting credit unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; S. 2999; S. 3017; S. 3355; S. 3684; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R. 1652; H.R 1791; H.R. 1799; H.R. 2392; H.R. 3633; H.R. 5900; H.R. 6644; H.R. 6936; H.R. 6955; H.R. 7056; H.R. 7148; H.R. 7548; H.R. 7647; H.R. 8087 H.R. 4167; S.J. Res. 18; H.J. Res. 50; H.J. Res. 59.

Client expense: $80,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to banking and credit unions; issues related to cannabis banking; issues related to deposit insurance; issues related to interchange; issues related to payment networks; issues related to consumer protection rules and regulations; issues related to rules and legislation affecting credit unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; S. 2999; S. 3017; S. 3355; S. 3684; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R. 1652; H.R 1791; H.R. 1799; H.R. 2392; H.R. 3633; H.R. 5900; H.R. 6644; H.R. 6936; H.R. 6955; H.R. 7056; H.R. 7148; H.R. 7548; H.R. 7647; H.R. 8087 H.R. 4167; S.J. Res. 18; H.J. Res. 50; H.J. Res. 59.

Client expense: $80,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 478/S. 113, Promoting New Bank Formation Act S. 875/H.R. 2702, Financial Integrity and Regulation Management (FIRM) Act H.R. 1919/S. 1124, the Anti-CBDC Surveillance State Act H.R. 976/S. 557, the 1071 Repeal to Protect Small Business Lending Act H.R. 2392, the Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 (STABLE Act) S. 394/ S.919, Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) S.3623/H.R.7035, Credit Card Competition Act of 2026 H.R. 1944/S. 381, the 10 Percent Credit Card Interest Rate Cap Act H.R. 654, the Taking Account of Bureaucrats Spending (TABS) Act of 2025 H.R. 987/S. 401, the Fair Access to Banking Act H.R. 1652, the Rectifying UDAAP Act H.R. 3445, the Bureau of Consumer Financial Protection Commission Act H.R. 1653, the CID Reform Act Business of Insurance Regulatory Reform Act H.R. 2513, CFPB-IG Reform Act H.R. 2183, the CFPB Dual Mandate and Economic Analysis Act H.R. 2331, the Transparency in CFPB Cost-Benefit Analysis Act H.R. 1606, the Making the CFPB Accountable to Small Business Act Cybersecurity Information Sharing Act Community Development Financial Institutions (CDFI) Fund Secure and Fair Enforcement (SAFE) Banking Act Regulatory Tailoring Community Reinvestment Act Deposit Insurance Reform S.4198/H.R.8087, the Main Street Depositor Protection Act National Bank Preemption H.R. 306, the Ending Scam Credit Repair Act Bank On Certification Program Central Bank Digital Currency Cryptocurrency Stablecoin Digital Assets Bank Capital Requirements/Basel Capital Proposal UDAAP Supervisory Policies and Adjudication Procedures Applying Community Reinvestment Act to credit unions Merchant Category Codes H.R. 1181, Protecting Privacy in Purchases Act H.R.1602, Financial Privacy Act of 2025 Foreign Affiliate Sharing Pilot Program Extension Act Financial Innovation and Technology for the 21st Century Act H.R.2885, Bank Loan Privacy Act H.R. 941, Small Lender Act Regulation II: Debit Card Interchange Fees and Routing Implementation of Dodd-Frank Act Section 1033: Final Rule on Personal Financial Data Rights Merger and Acquisition Policy Artificial Intelligence Risk Management, Regulation, and Innovation CDFI Certification & Funding Federal Reserve Discount Window and Emergency Lending Authority Tokenization of Assets Fraud Issues Peer-To-Peer Payment Fraud Financial Data Transparency Act Rulemaking FDIC Brokered Deposit Proposal H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act of 2025 H.R.1900 - Bank Failure Prevention Act of 2025 H.R.3230 - Financial Institution Regulatory Tailoring Enhancement Act H.R.8287 - Stress Testing Accountability and Transparency Act H.R. 2835, the Small Bank Holding Company Relief Act H.R. 3709, the Advancing the Mentor-Protege Program for Small Financial Institutions Act H.R. 3716, the Systemic Risk Authority Transparency Act H.R. 940, the Fair Audits and Inspections for Regulators' (FAIR) Exams Act H.R. 3379, the Halting Uncertain Methods and Practices in Supervision (HUMPS) Act of 2025 H.R. 3380, the Taking Account of Institutions with Low Operation Risk (TAILOR) Act of 2025 S.2019 - Task Force for Recognizing and Averting Payments Scams (TRAPS) Act H.R. 3390, the Bringing the Discount Window into the 21st Century Act H.R. 4460, the Stop Agency Fiat Enforcement of Guidance (SAFE Guidance) Act H.R. 3446, the FDIC Board Accountability Act H.R. 4544, The American Access to Banking Act H.R. 4478, the Tailored Regulatory Updates for Supervisory Testing Act of 2025 (TRUST Act) H.R. 4437, the Supervisory Modifications for Appropriate Risk-Based Testing Act of 2025 (SMART Act) H.R. 5270, the Stress Testing Accountability and Transparency Act H.R. 5276, the Community Bank Leverage Improvement and Flexibility for Transparency (Community Bank LIFT) Act H.R. 5291, the Merchant Banking Modernization Act H.R. 5262, the Bank Competition Modernization Act Legislation to support Minority Depository Institutions H.R. 6553, the Tailoring and Indexing Enhanced Regulations (TIER) Act H.R. 6554, the Community Bank Representation Act H.R. 6536, Rural Depositories Revitalization Study Act H.R. 6551, the New Bank Application Numbers Knowledge Act (New BANK) Act H.R. 6546, Merger Process Review Act H.R. 6570, the Merger Agreement Approvals Clarity and Predictability Act H.R. 6544, The Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow (REVIEW) Act H.R. 6550, the American Financial Institution Regulatory Sovereignty and Transparency (American FIRST) Act H.R. 6555, the Enhancing Bank Resolution Participation Act Ensuring Fair Access to Banking Act H.R. 6955, the Main Street Capital Access Act H.R. 7056, the Community Bank Regulatory Tailoring Act S.3940, the Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act S. 3017, the STREAMLINE Act H.R. 1799, the Financial Reporting Threshold Modernization Act H.R. 8278, Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision (FUTURES) Act H.R. 9331, the Strengthening Transaction Oversight Preventing (STOP) Payments Fraud Act H.R. 9471/S. 4942, the Secure and Fair Enforcement Banking Act (SAFE Banking Act) of 2026 H.R. 8395, the Payments Access and Consumer Efficiency (PACE) Act

Client expense: $3,510,000 · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

General education around digital assets and decentralized AI To require the Secretary of the Treasury to develop a public-private partnership program with decentralized protocol developers and specialized auditing firms to examine embedded supervision and regulation of decentralized protocols, and for other purposes. H.R. 148, Keep Your Coins Act of 2025 S. 919, GENIUS Act H.R. 2392, STABLE Act H.R. 2384, Financial Technology Protection Act H.R.216, Securities Enforcement Clarity Act of 2025 H.R. 2365, Securities Clarity Act H.R.2032, BITCOIN Act H.Res.248, Resolution emphasizing the importance and power of distributed ledger technologies (DLT) to support democratic governance, human rights, internet freedom, and transparency. H.R. 1919, Anti-CBDC Surveillance State Act Legislation related to digital asset market structure legislation - HR 3633 (CLARITY Act) and the Responsible Financial Innovation Act of 2025. HR 1 (One Big Beautiful Bill Act) Issues related to the tax treatment of digital assets H.R.8149 - To amend the Internal Revenue Code of 1986 to clarify the tax treatment of digital asset rewards.

Client expense: $410,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office

Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. S 3623 Credit Card Competition Act of 2026, all provisions. Issues pertaining to the SNAP program. S 4784 An original bill to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes / HR 8800 National Defense Authorization Act for Fiscal Year 2027, all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations. S 2296 National Defense Authorization Act for Fiscal Year 2026, all provisions and amendments relating to electronic payments or interchange.

Client expense: Not reported · Firm income: $30,000

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE

General issues around legislation related to stablecoins; including H.R. 2392 - STABLE Act of 2025 and S.919 - GENIUS Act of 2025.

Client expense: Not reported · Firm income: $120,000

Government targets: SENATE

Issues related to crypto & digital assets including 1) digital assets market structure initiatives such as H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act and Senate companion drafts such as S. 4356, the Responsible Financial Innovation Act (RFIA) and S. 3755, the Digital Commodity Intermediaries Act and 2) Stablecoins legislation clarification including S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act) Issues related to including digital assets in registered investment companies and the taxation of digital assets, including H.R. 9175, the Tax Clarity for Mining and Staking Act Increases in the stock buyback excise tax included in FY27 National Defense Authorization Act (NDAA) - H.R. 8800 and S. 4784 Various reconciliation issues in H.R.1, the One Big Beautiful Bill Act, including section 899 and implementation of Trump accounts Treasury meetings about Trump accounts. Protecting closed-end funds from activist investors and enhancing retail investor access to alternative investments & private markets - H.R. 3383, the Increasing Investor Opportunities Act Capital formation initiatives included in H.R. 3383, the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act (note same bill number as the CEF bill - two bills combined) and possible Senate companion legislation, the Empowering Main Street in America Act (EMSAA) Promoting inclusion of alternative investments in retirement plans, including H.R. 2544 & S. 1222, the Financial Freedom Act and H.R. 5748, the Retirement Investment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Professional Experts Act Clarifications about restrictions on outbound investments to China included in the National Defense Authorization Act (NDAA) S. 1071 including the COINS Act, the Comprehensive Outbound Investment National Security Act of 2025 Business Development Company issues including H.R. 2225 & S. 1808 - the Access to Small Business Investor Capital Act E-delivery initiatives including H.R. 2441 & S 1877, the Improving Disclosure for Investors Act Retirement security initiatives, including S. 424 and H.R. 1013, the Retirement Fairness for Charities and Educational Institutions Retirement savings initiatives including promoting tax deferral for individuals participating in voluntary, employer provided retirement plans and IRAs and H.R. 2696 and S. 1526, the Retirement Savings for Americans Act (RSAA) that would create a federal retirement system ERISA litigation reform efforts such as H. R. 6084, the ERISA Litigation Reform Act Congressional oversight of ESG investing including proxy voting by asset managers and various legislative initiatives H.R. 3682 and S. 3578, the FSOC Improvement Act which reforms the Financial Stability Oversight Councils non-bank Systematically Important Financial Institution (SIFI) designation process.

Client expense: $270,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. Issues pertaining to the Credit Card Competition Act (no bill number), all provisions. Issues pertaining to the Fiscal Year 2026 National Defense Authorization Act (no bill number), all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to MDL-1720 multi-district antitrust litigation. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to Buy Now Pay Later Programs. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations. Issues pertaining to the implementation of PL 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act, all provisions relating to the provisions in Title X-Bureau of Consumer Financial Protection relating to interchange. Issues pertaining to antitrust legislation relating to interchange. Issues pertaining to payment card interchange fee and merchant discount anti-trust litigation. Issues pertaining to Real Time Payments.

Client expense: Not reported · Firm income: $110,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 142 - Regulations from the Executive in Need of Scrutiny Act of 2025 H.J. Res. 151 / S.J. Res. 109 - Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Land Management relating to Grand Staircase-Escalante National Monument Record of Decision and Approved Resource Management Plan H.R. 178 - To require the Secretary of Agriculture to carry out activities to suppress wildfires, and for other purposes. H.R.184 - Action Versus No Action Act H.R. 471/ S. 1462 - Fix Our Forests Act H.R. 556/S. 537 - Protecting Access for Hunters and Anglers Act of 2025 H.R. 582 - Community Protection and Wildfire Resilience Act H.R. 598 - Forest Information Reform Act H.R. 717 - Wildlife Movement Through Partnerships Act H.R. 1206/S. 530 - WEST Act of 2025 H.R. 1555 - Bureau of Land Management Mineral Spacing Act H.R. 1705/ S. 919 - A. Donald McEachin Environmental Justice for All Act H.R. 1897 - ESA Amendments Act of 2025 H.R. 2235 - Habitat Connectivity on Working Lands Act of 2025 H.R. 2673 - The Florida Coastal Protection Act H.R. 2709 - Save Our Sequoias Act H.R. 2820 - The California Clean Coast Act H.R. 2848 / S. 1445 - Stop Arctic Ocean Drilling Act H.R. 2849 / S.1432- West Coast Ocean Protection Act H.R. 2862 - Southern California Coast and Ocean Protection Act H.R. 2865 / S. 1472 (related but not identical)- New England Coastal Protection Act H.R. 2881 / S.1486 - COAST Anti-drilling Act H.R. 2882 - Central Coast of California Conservation Act H.R. 2886 - Defend Our Coast Act H.R. 3067/S. 1519 - Arctic Refuge Protection Act H.R. 3329 - Wildlife Corridors and USDA Conservation Programs Act H.R. 3930/ S. 2042 - Roadless Area Conservation Act H.R. 4038/ S. 902 - the Wildfire Response and Preparedness Act H.R. 4503 - ePermit Act H.R. 4776 - SPEED Act H.R. 5587- Harnessing Energy At Thermal Sources Act or the HEATS Act H.R. 6078 - Wildlife Road Crossings Program Reauthorization Act H.R. 6268 - LEAD Act of 2025 H.R. 6300 / S. 2787 - Grasslands Grazing Act of 2025 H.R. 6747 - Clean Electricity and Transmission Acceleration Act H.R. 7147 - FY 2026 Homeland Security Further Additional Cont. Approps. Act (through 5/22/2026) H.R. 7567 - Farm, Food, and National Security Act of 2026 (House Farm Bill) H.R.7695 - To provide that the final rule titled "Special Areas; Roadless Area Conservation" and issued on January 12, 2001 (66 Fed. Reg. 3244) shall have no force or effect and require the Secretary of Agriculture to construct certain roads on National Forest System lands, and for other purposes. H.R. 7951 - Long-Term Good Neighbor Authority Act H.R. 7979 - Public Lands Access Restoration Act H.R. 8259 - Federal Water Projects Consultation and Infrastructure Act H.R. 8438 - Wildlife Corridors and Habitat Connectivity Conservation Act H.R. 8646/Senate no bill number - FY 2027 Agriculture Appropriations - USDA Wildlife Services Nonlethal Conflict Reduction Initiative H.R. 8682 - Accelerating Forest Management Act H.R. 8688 - Forest Health and Wildfire Risk Reduction Act H.R. 8800 - FY 2027 National Defense Authorization Act H.R. 8845/Senate no bill number - FY 2027 CJS Appropriation bills - North Atlantic right whale, vessel speed rule, Marine Mammal Protection Act issues, Rices whale, ESA funding H.R. 8870 - Build America 250 Act H.R. 8919 - Protect Gulf Life Act H.R. 9017 - Restore Florida Water Independence Act H.R. 9035 - Ending Fossil Fuel Bailouts Act of 2026 H.R. 9138 - To require the Secretary of the Interior to transfer to the Secretary of the Navy administrative jurisdiction of certain land located on Adak Island, Alaska H. R. 9171/Senate no bill number - FY 2027 Interior Appropriations - ESA and wildlife related riders, ESA funding, National Wildlife Refuge System, BLM and FS T&E, Migratory Bird Management Program funding, BLM Plant Conservation and Restoration Program, FS Research and Development Program, Marine Minerals Administration H.R. 9184 - Local Data for Better Conservation Act H.R. 9188 - the Military Readiness Permitting Efficiency Act of 2026 H.R. 9250/ S. 1547 - Great American Outdoors Act/ America the Beautiful Act Coexistence / Nonlethal Initiative Draft Bill (no bill number) House No Bill Number - Create Expedited Reviews to Transform American Infrastructure Now Act, CERTAIN Act, and related language House no bill number - legislation to rescind waiver authority under REAL ID Act House No Bill Number - MMPA Reauthorization Discussion Draft House no bill number - Oil and Gas bankruptcy clean-up costs House no bill number - Oil and Gas penalty, royalty relief, and transportation allowance reform House no bill number - the LOCAL Act House no bill number / Senate no bill number - legislation to transfer Dungeness National Wildlife Refuge and Protection Island National Wildlife Refuge House/Senate No Bill Number - Mature and old growth forest protections, wildfire, and performance metrics legislation S. 2 - Secure America Act, amendments pertaining to public lands and wildfire S. 90 / H.R. 376 - Historic Roadways Protection Act S. 140 - Wildfire Prevention Act of 2025 S. 211 - Resiliency for Ranching and Natural Conservation Health Act S. 446 - To prohibit Big Cypress National Preserve from being designated as wilderness S. Res. 782 - A resolution recognizing the importance of pollinators to ecosystem health and agriculture in the United States by designating June 22 through June 28, 2026, as National Pollinator Week S. 1449 - RESTART Act S. 2015 - National Prescribed Fire Act S. 2016 - Chugach Alaska Land Exchange Oil Spill Recovery Act of 2025 S. 2554/ H.R. 41 - Unrecognized Southeast Alaska Native Communities Recognition and Compensation Act S. 2967 - Border Lands Conservation Act S. 2968 / H.R. 9221 - Outdoor Americans with Disabilities Act S. 2969 - Establishes that state law shall apply to the use of motor vehicles on roads within NPS units S. 2970 - Establishes that state law shall apply to the use of motor vehicles on covered roads in Capitol Reef National Park S. 3503 - Wildlife Road Crossings Program Reauthorization Act S. 3947 - REWIRE Act S. 4146 - Local Data for Better Conservation Act S. 4412 - No FED in West Texas Act S. 4455 / H.R. 9167 - Public Lands Integrity Act S. 4462/H.R. 8640 - A bill to provide for the establishment of a National Interagency Seed and Restoration Center, and for other purposes. S. 4475 - Unlock American Energy and Jobs Act of 2026 S. 4753 - Energy Permitting and Reform Act of 2024 S. 6380 / H.R. 3715 - Chiricahua National Park Act Senate Farm Bill (No Bill number) Senate No Bill Number - Discussion Draft To require the reorganization of the Forest Service under the Department of the Interior, and for other purposes. Senate no bill number - draft bill on ESA

Client expense: $270,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), SENATE

Issues related to stablecoin legislation implementation; S. 919 - Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, Issues related to AML requirements: H.R. 2824 - Financial Technology Protection Act of 2025; Issues related to market structure: H.R.3633 - Digital Asset Market Clarity Act, Responsible Financial Innovation Act of 2025; Senate Banking's market structure legilsation (Markup of H.R.3633), Senate Agriculture's Digital Commodity Intermediaries Act (S. 3755), Blockchain Regulatory Certainty Act (H.R. 3533, S. 3611)

Client expense: $310,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to banking and credit unions; issues related to cannabis banking; issues related to deposit insurance; issues related to interchange; issues related to payment networks; issues related to consumer protection rules and regulations; issues related to rules and legislation affecting credit unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; S. 2999; S. 3017; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R. 1652; H.R 1791; H.R. 1799; H.R. 2392; H.R. 3633; H.R. 6644; H.R. 6936; H.R. 6955; H.R. 7056; H.R. 7148; H.R. 7548; H.R. 7647; H.R. 8087 H.R. 4167; S.J. Res. 18; H.J. Res. 50; H.J. Res. 59.

Client expense: $90,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to banking and credit unions; issues related to cannabis banking; issues related to deposit insurance; issues related to interchange; issues related to payment networks; issues related to consumer protection rules and regulations; issues related to rules and legislation affecting credit unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; S. 2999; S. 3017; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R. 1652; H.R 1791; H.R. 1799; H.R. 2392; H.R. 3633; H.R. 6644; H.R. 6936; H.R. 6955; H.R. 7056; H.R. 7148; H.R. 7548; H.R. 7647; H.R. 8087 H.R. 4167; S.J. Res. 18; H.J. Res. 50; H.J. Res. 59.

Client expense: $90,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. Issues pertaining to the Credit Card Competition Act (no bill number), all provisions. Issues pertaining to the Fiscal Year 2026 National Defense Authorization Act (no bill number), all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to MDL-1720 multi-district antitrust litigation. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to Buy Now Pay Later Programs. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations. Issues pertaining to the implementation of PL 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act, all provisions relating to the provisions in Title X-Bureau of Consumer Financial Protection relating to interchange. Issues pertaining to antitrust legislation relating to interchange. Issues pertaining to payment card interchange fee and merchant discount anti-trust litigation. Issues pertaining to Real Time Payments. S 2296 National Defense Authorization Act for Fiscal Year 2026, all provisions and amendments relating to electronic payments or interchange.

Client expense: Not reported · Firm income: $110,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 478/S. 113, Promoting New Bank Formation Act S. 875/H.R. 2702, Financial Integrity and Regulation Management (FIRM) Act H.R. 1919/S. 1124, the Anti-CBDC Surveillance State Act H.R. 976/S. 557, the 1071 Repeal to Protect Small Business Lending Act H.R. 2392, the Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 (STABLE Act) S. 394/ S.919, Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) S.3623/H.R.7035, Credit Card Competition Act of 2026 H.R. 1944/S. 381, the 10 Percent Credit Card Interest Rate Cap Act H.R. 654, the Taking Account of Bureaucrats Spending (TABS) Act of 2025 H.R. 987/S. 401, the Fair Access to Banking Act H.R. 1652, the Rectifying UDAAP Act H.R. 3445, the Bureau of Consumer Financial Protection Commission Act H.R. 1653, the CID Reform Act Business of Insurance Regulatory Reform Act H.R. 2513, CFPB-IG Reform Act H.R. 2183, the CFPB Dual Mandate and Economic Analysis Act H.R. 2331, the Transparency in CFPB Cost-Benefit Analysis Act H.R. 1606, the Making the CFPB Accountable to Small Business Act Cybersecurity Information Sharing Act Community Development Financial Institutions (CDFI) Fund Secure and Fair Enforcement (SAFE) Banking Act Regulatory Tailoring Community Reinvestment Act Deposit Insurance Reform S.4198/H.R.8087, the Main Street Depositor Protection Act National Bank Preemption H.R. 306, the Ending Scam Credit Repair Act Bank On Certification Program Central Bank Digital Currency Cryptocurrency Stablecoin Digital Assets Bank Capital Requirements/Basel Capital Proposal UDAAP Supervisory Policies and Adjudication Procedures Applying Community Reinvestment Act to credit unions Merchant Category Codes H.R. 1181, Protecting Privacy in Purchases Act H.R.1602, Financial Privacy Act of 2025 Foreign Affiliate Sharing Pilot Program Extension Act Financial Innovation and Technology for the 21st Century Act H.R.2885, Bank Loan Privacy Act H.R. 941, Small Lender Act Regulation II: Debit Card Interchange Fees and Routing Implementation of Dodd-Frank Act Section 1033: Final Rule on Personal Financial Data Rights Merger and Acquisition Policy Artificial Intelligence Risk Management, Regulation, and Innovation CDFI Certification & Funding Federal Reserve Discount Window and Emergency Lending Authority Tokenization of Assets Fraud Issues Peer-To-Peer Payment Fraud Financial Data Transparency Act Rulemaking FDIC Brokered Deposit Proposal H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act of 2025 H.R.1900 - Bank Failure Prevention Act of 2025 H.R.3230 - Financial Institution Regulatory Tailoring Enhancement Act H.R.8287 - Stress Testing Accountability and Transparency Act H.R. 2835, the Small Bank Holding Company Relief Act H.R. 3709, the Advancing the Mentor-Protege Program for Small Financial Institutions Act H.R. 3716, the Systemic Risk Authority Transparency Act H.R. 940, the Fair Audits and Inspections for Regulators' (FAIR) Exams Act H.R. 3379, the Halting Uncertain Methods and Practices in Supervision (HUMPS) Act of 2025 H.R. 3380, the Taking Account of Institutions with Low Operation Risk (TAILOR) Act of 2025 S.2019 - Task Force for Recognizing and Averting Payments Scams (TRAPS) Act H.R. 3390, the Bringing the Discount Window into the 21st Century Act H.R. 4460, the Stop Agency Fiat Enforcement of Guidance (SAFE Guidance) Act H.R. 3446, the FDIC Board Accountability Act H.R. 4544, The American Access to Banking Act H.R. 4478, the Tailored Regulatory Updates for Supervisory Testing Act of 2025 (TRUST Act) H.R. 4437, the Supervisory Modifications for Appropriate Risk-Based Testing Act of 2025 (SMART Act) H.R. 5270, the Stress Testing Accountability and Transparency Act H.R. 5276, the Community Bank Leverage Improvement and Flexibility for Transparency (Community Bank LIFT) Act H.R. 5291, the Merchant Banking Modernization Act H.R. 5262, the Bank Competition Modernization Act Legislation to support Minority Depository Institutions H.R. 6553, the Tailoring and Indexing Enhanced Regulations (TIER) Act H.R. 6554, the Community Bank Representation Act H.R. 6536, Rural Depositories Revitalization Study Act H.R. 6551, the New Bank Application Numbers Knowledge Act (New BANK) Act H.R. 6546, Merger Process Review Act H.R. 6570, the Merger Agreement Approvals Clarity and Predictability Act H.R. 6544, The Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow (REVIEW) Act H.R. 6550, the American Financial Institution Regulatory Sovereignty and Transparency (American FIRST) Act H.R. 6555, the Enhancing Bank Resolution Participation Act Ensuring Fair Access to Banking Act H.R. 6955, the Main Street Capital Access Act H.R. 7056, the Community Bank Regulatory Tailoring Act S.3940, the Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act S. 3017, the STREAMLINE Act H.R. 1799, the Financial Reporting Threshold Modernization Act

Client expense: $3,140,000 · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

General education around digital assets and decentralized AI To require the Secretary of the Treasury to develop a public-private partnership program with decentralized protocol developers and specialized auditing firms to examine embedded supervision and regulation of decentralized protocols, and for other purposes. H.R. 148, Keep Your Coins Act of 2025 S. 919, GENIUS Act H.R. 2392, STABLE Act H.R. 2384, Financial Technology Protection Act H.R.216, Securities Enforcement Clarity Act of 2025 H.R. 2365, Securities Clarity Act H.R.2032, BITCOIN Act H.Res.248, Resolution emphasizing the importance and power of distributed ledger technologies (DLT) to support democratic governance, human rights, internet freedom, and transparency. H.R. 1919, Anti-CBDC Surveillance State Act Legislation related to digital asset market structure legislation - HR 3633 (CLARITY Act) and the Responsible Financial Innovation Act of 2025. HR 1 (One Big Beautiful Bill Act) Issues related to the tax treatment of digital assets H.R.8149 - To amend the Internal Revenue Code of 1986 to clarify the tax treatment of digital asset rewards.

Client expense: $380,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office

General issues around legislation related to stablecoins; including H.R. 2392 - STABLE Act of 2025 and S.919 - GENIUS Act of 2025.

Client expense: Not reported · Firm income: $120,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE, State, Dept of (DOS)

Issues related to crypto & digital assets including 1) digital assets market structure initiatives such as H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act and Senate companion drafts such as S. 4356, the Responsible Financial Innovation Act (RFIA) and S. 3755, the Digital Commodity Intermediaries Act and 2) Stablecoins legislation clarification including S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act) Various reconciliation issues in H.R.1, the One Big Beautiful Bill Act, including section 899 and implementation of Trump accounts. Treasury meetings (Feb & March 2026) about Trump accounts. Protecting closed end funds from activist investors and enhancing retail investor access to alternative investments & private markets - H.R. 3383, the Increasing Investor Opportunities Act. Capital formation initiatives included in H.R. 3383, the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act. Promoting inclusion of alternative investments in retirement plans, including H.R. 2544 & S. 1222, the Financial Freedom Act and H.R. 5748, the Retirement Investment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s. Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Professional Experts Act. Clarifications about restrictions on outbound investments to China included in the National Defense Authorization Act (NDAA) S. 1071 including the COINS Act, the Comprehensive Outbound Investment National Security Act of 2025 Business Development Company issues including H.R. 2225 - the Access to Small Business Investor Capital Act. E-delivery initiatives including H.R. 2441 & S 1877, the Improving Disclosure for Investors Act. Retirement security initiatives, including S. 424 and H.R. 1013, the Retirement Fairness for Charities and Educational Institutions. Retirement savings initiatives including promoting tax deferral for individuals participating in voluntary, employer provided retirement plans and IRAs and H.R. 2696 and S. 1526, the Retirement Savings for Americans Act (RSAA) that would create a federal retirement system. ERISA litigation reform efforts such as H. R. 6084, the ERISA Litigation Reform Act. Congressional oversight of ESG investing including proxy voting by asset managers and various legislative initiatives. H.R. 3682 and S. 3578, the Financial Stability Oversight Council (FSOC) Improvement Act which reforms the Financial Stability Oversight Councils non- bank Systematically Important Financial Institution (SIFI) designation process. Met with Treasury about FSOC reworking guidance and supporting congressional legislation such as the FSOC Improvement Act.

Client expense: $250,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Issues related to payment regulation and federal payments charter; stablecoin legislation (S. 919, the GENIUS Act) and (HR 2392, the STABLE Act); Issues related to crypto market structure reform and Dodd-Frank Section 1033 reform regarding protection of consumer financial data.

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES

Issues related to payment regulation and federal payments charter; stablecoin legislation (S. 919, the GENIUS Act) and (HR 2392, the STABLE Act); Issues related to crypto market structure reform and Dodd-Frank Section 1033 reform regarding protection of consumer financial data.

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES

Issues related to payment regulation and federal payments charter; stablecoin legislation (S. 919, the GENIUS Act) and (HR 2392, the STABLE Act); Issues related to crypto market structure reform and Dodd-Frank Section 1033 reform regarding protection of consumer financial data.

Client expense: Not reported · Firm income: Not reported

Government targets: SENATE

Issues related to payment regulation and federal payments charter; stablecoin legislation (S. 919, the GENIUS Act) and (HR 2392, the STABLE Act); Issues related to crypto market structure reform and Dodd-Frank Section 1033 reform regarding protection of consumer financial data.

Client expense: Not reported · Firm income: Not reported

Government targets: SENATE

Issues related to stablecoin legislation (S. 919, the GENIUS Act and HR 2392, the STABLE Act of 2025) and crypto market structure reform legislation.

Client expense: Not reported · Firm income: Not reported

Government targets: SENATE

Issues related to stablecoin legislation (S. 919, the GENIUS Act and HR 2392, the STABLE Act of 2025) and crypto market structure reform legislation.

Client expense: Not reported · Firm income: $80,000

Government targets: SENATE

Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. Issues pertaining to the Credit Card Competition Act (no bill number), all provisions. Issues pertaining to the Fiscal Year 2026 National Defense Authorization Act (no bill number), all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to MDL-1720 multi-district antitrust litigation. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to Buy Now Pay Later Programs. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations. Issues pertaining to the implementation of PL 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act, all provisions relating to the provisions in Title X-Bureau of Consumer Financial Protection relating to interchange. Issues pertaining to antitrust legislation relating to interchange. Issues pertaining to payment card interchange fee and merchant discount anti-trust litigation. Issues pertaining to Real Time Payments. S 2296 National Defense Authorization Act for Fiscal Year 2026, all provisions and amendments relating to electronic payments or interchange.

Client expense: Not reported · Firm income: $150,000

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE

Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. Issues pertaining to the Credit Card Competition Act (no bill number), all provisions. Issues pertaining to the SNAP program. Issues pertaining to the Fiscal Year 2026 National Defense Authorization Act (no bill number), all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations. S 2296 National Defense Authorization Act for Fiscal Year 2026, all provisions and amendments relating to electronic payments or interchange.

Client expense: Not reported · Firm income: $30,000

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE

Issues related to digital asset market structure: (Not introduced) The Responsible Financial Innovation Act; S.3755/S.4064 - Digital Commodity Intermediaries Act; H.R.3633 - Digital Asset Market Clarity Act; H.R.1919 - Anti-CBDC Surveillance State Act; H.R.3533/S.3611 - The Blockchain Regulatory Certainty Act Issues related to combatting illicit finance: H.R. 2824 - Financial Technology Protection Act of 2025; S.3428 - SAFE Crypto Act Issues related to banking legislation: S.875 - Financial Integrity and Regulation Management Act Issues related to stablecoin legislation implementation; S. 919 - Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

Client expense: $300,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 3633, Digital Asset Market Clarity Act of 2025 S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (GENIUS Act of 2025) Issues related to digital assets Issues related to national security and illicit finance Issues related to crypto market structure Crypto tax issues

Client expense: $400,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues affecting large global banks including data security, data privacy, payments system integrity, digital assets, outbound investment and deposit insurance. Issues related to credit card competition. H.R.3655, Digital Market Clarity Act of 2025. S.919/S.1582, Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. S.2381/H.R.1944, the 10 Percent Credit Card Interest Rate Cap Act.

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to banking and credit unions; issues related to cannabis banking; issues related to deposit insurance; issues related to interchange; issues related to payment networks; issues related to consumer protection rules and regulations; issues related to rules and legislation affecting credit unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R. 1652; H.R 1791; H.R. 1799; H.R. 2392; H.R. 3633; H.R. 4167; S.J. Res. 18; H.J. Res. 50; H.J. Res. 59.

Client expense: $40,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to banking and credit unions; issues related to cannabis banking; issues related to deposit insurance; issues related to interchange; issues related to payment networks; issues related to consumer protection rules and regulations; issues related to rules and legislation affecting credit unions; issues related to lending programs and credit union operational flexibility; issues related to community development financial institutions; S. 303; S. 394; S. 401; S. 522; S. 919; S. 940; S. 1582; S. 1880; S. 2019; S. 2296; H.R. 654; H.R. 814; H.R. 975; H.R. 987; H.R. 1603; H.R. 1652; H.R 1791; H.R. 1799; H.R. 2392; H.R. 3633; H.R. 4167; S.J. Res. 18; H.J. Res. 50; H.J. Res. 59.

Client expense: $40,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Met with the House and Senate on preemption issues Met with the House and Senate on issues impacting large global banks Met with the House and Senate on digital assets Met with the House and Senate on sanctions legislation Met with the House and Senate on market regulations Met with the House and Senate on bank capital regulations Met with the House and Senate on credit card pricing Met with the House and Senate on AML regulations Met with the House and Senate on geopolitical issues impacting the global economy, including China Met with the House and Senate on proposals related to outbound investment Met with the House and Senate on artificial intelligence Met with the House and Senate on fair access to banking issues and legislative proposals Met with the House and Senate on cybersecurity issues Met with the House and Senate on interchange issues/previously introduced Credit Card Competition Act Met with the House and Senate on bank supervision issues Met with the House and Senate on proposals related to deposit insurance Met with the House and Senate on proposals to revalue and demonetize U.S. gold reserves Draft legislation - Banking Regulator Accountability Act - all provisions H.R.2392, Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 - all provisions H.R.2548/S.1241, Sanctions Russia Act of 2025 - all provisions H.R.3655, Digital Market Clarity Act of 2025 - all provisions S.401/H.R.987, Fair Access to Banking Act - all provisions S.875/H.R.2702, Financial Integrity and Regulation Management (FIRM) Act - all provisions S.919/S.1582, Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act - all provisions S.1053/H.R.2246, Foreign Investment Guardrails to Help Thwart (FIGHT) China Act of 2025 - all provisions S.1582, GENIUS Act - all provisions S.2381/H.R.1944, the 10 Percent Credit Card Interest Rate Cap Act - all provisions S.2999, the Main Street Depositors Protection Act - all provisions

Client expense: $1,270,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

General education around digital assets and decentralized AI To require the Secretary of the Treasury to develop a public-private partnership program with decentralized protocol developers and specialized auditing firms to examine embedded supervision and regulation of decentralized protocols, and for other purposes. H.R. 148, Keep Your Coins Act of 2025 S. 919, GENIUS Act H.R. 2392, STABLE Act H.R. 2384, Financial Technology Protection Act H.R.216, Securities Enforcement Clarity Act of 2025 H.R. 2365, Securities Clarity Act H.R.2032, BITCOIN Act H.Res.248, Resolution emphasizing the importance and power of distributed ledger technologies (DLT) to support democratic governance, human rights, internet freedom, and transparency. H.R. 1919, Anti-CBDC Surveillance State Act Legislation related to digital asset market structure legislation - HR 3633 (CLARITY Act) and the Responsible Financial Innovation Act of 2025. HR 1 (One Big Beautiful Bill Act) Issues related to the tax treatment of digital assets H.R.8149 - To amend the Internal Revenue Code of 1986 to clarify the tax treatment of digital asset rewards.

Client expense: $440,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office

Issues related to Kraken's U.S. business operations including our centralized exchange and bank, among other products and services; crypto legislation and draft crypto legislation, including: S. 1582 Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act) of 2025, H.R. 3633-Digital Asset Market Clarity Act of 2025 or the CLARITY Act of 2025, S.394 Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act) of 2025, S.919 Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act) of 2025, H.R.2392 Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE Act) of 2025, and all provisions related to centralized exchange functions and market structure affecting the treatment of digital assets.

Client expense: $465,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

Issues related to crypto & digital assets including 1) digital assets market structure initiatives such as H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act and Senate companion drafts such as S. 4356, the Responsible Financial Innovation Act (RFIA) and 2) Stablecoins legislation including S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act) Various reconciliation issues in H.R.1, the One Big Beautiful Bill Act, including section 899 and implementation of Trump accounts Retail investor access to alternative investments & private markets, including H.R. 3383, the Increasing Investor Opportunities Act Promoting inclusion of alternative investments in retirement plans, including H.R. 2544 & S. 1222, the Financial Freedom Act and H.R. 5748, the Retirement Investment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Professional Experts Act Restrictions on outbound investments to China included in the National Defense Authorization Act (NDAA) S. 2296 and H.R. 2246 & S.1053, the Foreign Investment Guardrails to Help Thwart (FIGHT) China Act Business Development Company issues including H.R. 2225 - the Access to Small Business Investor Capital Act E-delivery initiatives including H.R. 2441 & S 1877, the Improving Disclosure for Investors Act Retirement security initiatives, including S. 424 and H.R. 1013, the Retirement Fairness for Charities and Educational Institutions Retirement savings initiatives including promoting tax deferral for individuals participating in voluntary, employer provided retirement plans and IRAs and H.R. 2696 and S. 1526, the Retirement Savings for Americans Act (RSAA) that would create a federal retirement system ERISA litigation reform efforts such as H. R. 6084, the ERISA Litigation Reform Act Congressional oversight of ESG investing including proxy voting by asset managers and various legislative initiatives

Client expense: $320,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

General issues around legislation related to stablecoins; including H.R. 2392 - STABLE Act of 2025 and S.919 - GENIUS Act of 2025.

Client expense: Not reported · Firm income: $20,000

H.R. 478/S. 113, Promoting New Bank Formation Act S. 875/H.R. 2702, Financial Integrity and Regulation Management (FIRM) Act H.R. 1919/S. 1124, the Anti-CBDC Surveillance State Act H.R. 976/S. 557, the 1071 Repeal to Protect Small Business Lending Act H.R. 2392, the Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 (STABLE Act) S. 394/ S.919, Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) Credit Card Competition Act H.R. 1944/S. 381, the 10 Percent Credit Card Interest Rate Cap Act H.R. 654, the Taking Account of Bureaucrats Spending (TABS) Act of 2025 H.R. 987/S. 401, the Fair Access to Banking Act H.R. 1652, the Rectifying UDAAP Act H.R. 3445, the Bureau of Consumer Financial Protection Commission Act H.R. 1653, the CID Reform Act Business of Insurance Regulatory Reform Act H.R. 2513, CFPB-IG Reform Act H.R. 2183, the CFPB Dual Mandate and Economic Analysis Act H.R. 2331, the Transparency in CFPB Cost-Benefit Analysis Act H.R. 1606, the Making the CFPB Accountable to Small Business Act Cybersecurity Information Sharing Act Community Development Financial Institutions (CDFI) Fund Secure and Fair Enforcement (SAFE) Banking Act Regulatory Tailoring Community Reinvestment Act Dodd-Frank Section 1033 Open Banking Rule Deposit Insurance Reform National Bank Preemption H.R. 306, the Ending Scam Credit Repair Act Bank On Certification Program Central Bank Digital Currency Cryptocurrency Stablecoin Digital Assets Bank Capital Requirements/Basel Capital Proposal UDAAP Supervisory Policies and Adjudication Procedures Applying Community Reinvestment Act to credit unions Merchant Category Codes H.R. 1181, Protecting Privacy in Purchases Act H.R.1602, Financial Privacy Act of 2025 Foreign Affiliate Sharing Pilot Program Extension Act Financial Innovation and Technology for the 21st Century Act H.R.1631, Safe Access to Cash Act of 2025 H.R.2885, Bank Loan Privacy Act H.R. 941, Small Lender Act Regulation II: Debit Card Interchange Fees and Routing Implementation of Dodd-Frank Act Section 1033: Final Rule on Personal Financial Data Rights Merger and Acquisition Policy Artificial Intelligence Risk Management, Regulation, and Innovation CDFI Certification & Funding Federal Reserve Discount Window and Emergency Lending Authority Tokenization of Assets Fraud Issues Peer-To-Peer Payment Fraud Financial Data Transparency Act Rulemaking FDIC Brokered Deposit Proposal H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act of 2025 H.R.1900 - Bank Failure Prevention Act of 2025 H.R.3230 - Financial Institution Regulatory Tailoring Enhancement Act H.R.8287 - Stress Testing Accountability and Transparency Act H.R. 2835, the Small Bank Holding Company Relief Act H.R. 3709, the Advancing the Mentor-Protege Program for Small Financial Institutions Act H.R. 3716, the Systemic Risk Authority Transparency Act H.R. 940, the Fair Audits and Inspections for Regulators' (FAIR) Exams Act H.R. 3379, the Halting Uncertain Methods and Practices in Supervision (HUMPS) Act of 2025 H.R. 3380, the Taking Account of Institutions with Low Operation Risk (TAILOR) Act of 2025 S.2019 - Task Force for Recognizing and Averting Payments Scams (TRAPS) Act H.R. 3390, the Bringing the Discount Window into the 21st Century Act H.R. 4460, the Stop Agency Fiat Enforcement of Guidance (SAFE Guidance) Act H.R. 3446, the FDIC Board Accountability Act H.R. 4544, The American Access to Banking Act H.R. 4478, the Tailored Regulatory Updates for Supervisory Testing Act of 2025 (TRUST Act) H.R. 4437, the Supervisory Modifications for Appropriate Risk-Based Testing Act of 2025 (SMART Act) H.R. 5270, the Stress Testing Accountability and Transparency Act H.R. 5276, the Community Bank Leverage Improvement and Flexibility for Transparency (Community Bank LIFT) Act H.R. 5291, the Merchant Banking Modernization Act H.R. 5262, the Bank Competition Modernization Act Legislation to support Minority Depository Institutions H.R. 6553, the Tailoring and Indexing Enhanced Regulations (TIER) Act H.R. 6554, the Community Bank Representation Act H.R. 6536, Rural Depositories Revitalization Study Act H.R. 6551, the New Bank Application Numbers Knowledge Act (New BANK) Act H.R. 6546, Merger Process Review Act H.R. 6570, the Merger Agreement Approvals Clarity and Predictability Act H.R. 6544, The Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow (REVIEW) Act H.R. 6550, the American Financial Institution Regulatory Sovereignty and Transparency (American FIRST) Act H.R. 6555, the Enhancing Bank Resolution Participation Act Ensuring Fair Access to Banking Act

Client expense: $1,700,000 · Firm income: Not reported

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. Issues pertaining to the Credit Card Competition Act (no bill number), all provisions. Issues pertaining to the Fiscal Year 2026 National Defense Authorization Act (no bill number), all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to MDL-1720 multi-district antitrust litigation. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to Buy Now Pay Later Programs. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations. Issues pertaining to the implementation of PL 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act, all provisions relating to the provisions in Title X-Bureau of Consumer Financial Protection relating to interchange. Issues pertaining to antitrust legislation relating to interchange. Issues pertaining to payment card interchange fee and merchant discount anti-trust litigation. Issues pertaining to Real Time Payments. S 2296 National Defense Authorization Act for Fiscal Year 2026, all provisions and amendments relating to electronic payments or interchange.

Client expense: Not reported · Firm income: $110,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

General issues around legislation related to stablecoins; including H.R. 2392 - STABLE Act of 2025 and S.919 - GENIUS Act of 2025.

Client expense: Not reported · Firm income: $120,000

Government targets: Executive Office of the President (EOP)

Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. Issues pertaining to the Credit Card Competition Act (no bill number), all provisions. Issues pertaining to the Fiscal Year 2026 National Defense Authorization Act (no bill number), all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to MDL-1720 multi-district antitrust litigation. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to Buy Now Pay Later Programs. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations. Issues pertaining to the implementation of PL 111-203 Dodd-Frank Wall Street Reform and Consumer Protection Act, all provisions relating to the provisions in Title X-Bureau of Consumer Financial Protection relating to interchange. Issues pertaining to antitrust legislation relating to interchange. Issues pertaining to payment card interchange fee and merchant discount anti-trust litigation. Issues pertaining to Real Time Payments. S 2296 National Defense Authorization Act for Fiscal Year 2026, all provisions and amendments relating to electronic payments or interchange.

Client expense: Not reported · Firm income: $150,000

Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE

Issues pertaining to the implementation of PL 119-4 FY 2025 Full-Year Continuing Appropriations and Extensions Act, Title VI Financial Services and General Government Appropriations, all provisions relating to credit card interchange. Issues pertaining to the implementation of PL 119-21 One Big Beautiful Bill Act, all provisions relating to the Credit Card Competition Act. S 381/HR 1944 10 Percent Credit Card Interest Rate Cap Act, all provisions. S 919 Guiding and Estimating National Innovation for US Stablecoins Act of 2025, all provisions relating to payments. Issues pertaining to the Credit Card Competition Act (no bill number), all provisions. Issues pertaining to the SNAP program. Issues pertaining to the Fiscal Year 2026 National Defense Authorization Act (no bill number), all provisions relating to electronic payments. Issues pertaining to interest rate caps, credit reporting, credit card interchange rates, routing and exclusivity, Honor All Cards, and regulation of electronic platforms. Issues pertaining to Federal Reserve Regulation II, all provisions relating to modifying debit and interchange fees and routing requirements. Issues pertaining to the implementation of PL 111-24 Credit Card Accountability Responsibility and Disclosure Act of 2009, all provisions and regulations. S 2296 National Defense Authorization Act for Fiscal Year 2026, all provisions and amendments relating to electronic payments or interchange.

Client expense: Not reported · Firm income: $30,000

Government targets: Consumer Financial Protection Bureau (CFPB), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE

Issues related to stablecoin legislation implementation; S. 919 - Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, Issues related to AML requirements: H.R. 2824 - Financial Technology Protection Act of 2025; Issues related to market structure: H.R. 2365 Securities Clarity Act, H.R.3633 - Digital Asset Market Clarity Act, Responsible Financial Innovation Act of 2025; Unintroduced Senate Banking Legislation to establish digital asset market structure. Unintroduced Senate Agriculture legislation to establish digital asset market structure.

Client expense: $300,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE