North America: Government, Public Sector

On May 18, the Supreme Court denied all six petitions for certiorari filed by drug manufacturers challenging the IRA’s Medicare Drug Price Negotiation Program, bringing much of the first wave of constitutional challenges to a close.

The Department of Homeland Security is poised to eliminate "duration of status" admissions for F, J, and I visa holders, replacing them with fixed expiration dates that would fundamentally alter how international students, exchange visitors, and foreign media representatives maintain lawful presence in the United States.

California's coastal development landscape is undergoing significant transformation as the California Coastal Commission faces new legislative and regulatory pressures to ease housing production barriers. Meanwhile, local governments across the state are implementing major zoning reforms, from Los Angeles County's affordable housing overhaul to San Francisco's transit corridor upzoning exemptions, as cities navigate the complex intersection of state housing mandates and local control.

After a record 76-day shutdown, the House unexpectedly passed the Department of Homeland Security funding measure, ending the longest funding standoff in the department's history.

On May 4, 2026, the Department of Finance released updated draft legislation expanding the audit powers of the Canada Revenue Agency (CRA) in the income tax context.

Fiat-backed stablecoins are rapidly emerging as viable payment alternatives, but without a clear Canadian regulatory framework, domestic digital payments risk being overshadowed by foreign-issued stablecoins. This discussion explores the regulatory, economic, and policy considerations necessary for Canada to establish a competitive blockchain-based payment system that maintains domestic control while harnessing the full potential of digital currency innovation.

The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address Canadian provincial financial services legislative and regulatory developments. In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered.

FY27 Moves Forward. Congress continues to march forward in its efforts to work through as many of the twelve appropriations bills as possible before the August recess.

The U.S. Department of Homeland Security (DHS) has issued an interim final rule that changes how U.S. Citizenship and Immigration Services (USCIS) handles immigration applications with invalid signatures.

On May 14, 2026, the Government of Canada announced Powering Canada Strong (the Strategy), a national strategy aimed at expanding Canada’s electricity system. The Strategy responds to growing electricity demand and outlines proposed measures intended to support economic growth, energy security and climate goals.

Advancement through regulatory processes in Canada often requires engaging proximate Indigenous communities who may be impacted by a proposed project.

On répète que « la crise du logement » est la grande histoire canadienne du moment. Dans de nombreuses communautés autochtones, c’est plutôt une vieille...