Sen. David McCormick

Maddy summaryThe TRUST Act of 2026 modifies the Federal Deposit Insurance Act to increase the asset threshold for well-managed financial institutions subject to routine examinations. It raises the current $3 billion threshold to $6 billion for determining which institutions qualify for less frequent supervisory examinations. This change directly affects larger, well-managed banks and credit unions by potentially reducing the frequency of federal regulatory reviews they undergo. The bill focuses solely on adjusting these examination thresholds without altering other regulatory requirements.

Maddy summaryThis bill requires the U.S. State Department, working with the FCC and Treasury, to submit a report to Congress within 120 days of enactment. The report must update previous assessments and specifically analyze: (1) using direct-to-cell wireless technology to expand internet access in Iran, (2) how drone-based systems and signal jamming might affect that technology, and (3) the ownership and foreign involvement of telecom providers operating in Iran. The report will assess the feasibility, security, and implications for communications freedom. It does not change U.S. law or policy but mandates a detailed study on internet access opportunities in Iran.

Maddy summaryThe Strategic Subsea Cables Act of 2026 aims to protect critical subsea fiber-optic cables that form the backbone of global internet infrastructure. It requires the U.S. government to increase engagement in international bodies like the International Cable Protection Committee, establish an interagency committee for coordination, and impose sanctions on foreign entities damaging cables. The bill mandates annual reports on Chinese and Russian cable activities, strengthens information sharing between government and private cable owners, and creates new reporting requirements for U.S. agencies. These provisions directly affect U.S. government agencies, private cable companies, and foreign entities that might threaten cable security. The act focuses on enhancing the security, resilience, and protection of subsea cable networks that are vital for global communications.

Maddy summaryThe SHADOW Fleet Sanctions Act of 2026 imposes sanctions on vessels and foreign entities supporting Russia's shadow fleet - vessels used to circumvent sanctions on Russian oil exports. It targets foreign vessels engaging in unsafe maritime behavior, lacking proper insurance, or evading the crude oil price cap, as well as foreign persons facilitating such activities through ship-to-ship transfers, insurance, or port services. The bill requires sanctions on port terminals in China or India accepting oil from sanctioned vessels and establishes a public database of vessels suspected of sabotage activities. It also creates reporting requirements and a strategy to counter China's role in evading sanctions on Russian energy products.

Maddy summaryThis bill establishes the Taiwan Undersea Cable Resilience Initiative to protect undersea communication cables critical to Taiwan's security and economy. It directs the State Department to coordinate with defense and maritime agencies to create real-time monitoring systems, rapid repair protocols, enhanced surveillance of suspicious vessels near Taiwan, and international partnerships for cable protection. The bill also authorizes U.S. sanctions - including property blocking and visa bans - against individuals or entities from China found responsible for sabotaging cables near Taiwan. It requires semiannual reports to Congress detailing cable incidents and U.S. responses.

Maddy summaryS 1369, the Protecting Global Fisheries Act of 2026, authorizes the U.S. government to impose sanctions on foreign vessels and entities involved in illegal, unreported, or unregulated (IUU) fishing or the illegal trade of endangered species. The bill targets foreign persons or vessels responsible for IUU fishing or illegal wildlife trade, including those acting on behalf of governments like China’s, with sanctions such as asset blocking, travel bans, port access denial, and financial restrictions. It requires the President to submit annual reports to Congress on sanctions implementation and mandates a detailed assessment of China’s IUU fishing activities and global enforcement efforts. The law includes exceptions for humanitarian aid, safety-related vessel provisions, and compliance with international agreements.

Fighting Trade Cheats Act of 2026 This bill increases penalties for, and establishes additional enforcement mechanisms related to, fraudulent and grossly negligent violations of U.S. customs laws. Specifically, the bill increases the maximum civil penalty for a fraudulent violation to three times the domestic value of the merchandise. (Currently, the maximum penalty is the domestic value of the merchandise.) It prohibits a person who commits a fraudulent violation from importing merchandise into the United States for a five-year period. Additionally, the bill increases the maximum civil penalty for a grossly negligent violation to the lesser of (1) 3 times the domestic value of the merchandise; or (2) 10 times the lawful duties, taxes, and fees. (Currently, the maximum penalty is the lesser of the domestic value of the merchandise or four times the lawful duties, taxes, and fees.) It prohibits a person who commits a grossly negligent violation from importing merchandise into the United States for a two-year period. Further, the bill applies these importation bans to an affiliated person (e.g., a family member or employee) of the person who committed the fraudulent or grossly negligent violation. The bill establishes a private right of action for an interested party (e.g., a manufacturer) affected by customs fraud or grossly negligent violations. The bill prohibits any person (or an affiliated person) who commits a fraudulent or grossly negligent violation from participating in the U.S. Customs and Border Protection's Importer of Record program, and further requires revocation of their importer of record numbers.

Maddy summaryThe Drone Espionage Act (S 1809) amends existing law to explicitly include video recordings alongside photographs in the prohibition against taking or transmitting defense information. This technical update to Title 18, U.S. Code, Section 793 clarifies that video footage of defense-related information - such as from drones or other devices - falls under espionage laws, just like photographic images. The bill directly affects individuals or entities recording defense information via video, expanding the scope of prohibited activities under current espionage statutes. It does not create new penalties but ensures modern recording methods are covered by existing legal protections.

Maddy summaryThe ePermit Act requires federal agencies to adopt standardized digital systems for environmental reviews and authorizations, creating a unified online portal for project sponsors to submit documents, track progress, and access real-time data. It mandates data standards for consistent information sharing, automated tools for screening projects and managing public comments, and a deadline for full implementation by December 2027. The bill directly affects federal agencies (like the EPA and Army Corps of Engineers), project developers seeking permits, and the public by replacing fragmented paper-based processes with a transparent, digital platform. Key provisions include requiring agencies to report on current systems within 90 days, implement minimum functional tools within 180 days, and prioritize vendor-neutral interoperability to reduce delays and redundancy.

Maddy summaryThe SCAM Act requires online platforms that accept payment for advertisements to verify advertiser identities (including government ID and business documentation) and implement systems to detect and remove scam ads within 72 hours of reporting. It mandates platforms to conduct investigations, remove verified fraudulent ads within 24 hours, and maintain active impersonation detection programs. The law directly affects major social media and digital advertising platforms by imposing new verification and monitoring obligations to prevent deceptive ads targeting consumers. Enforcement falls to the Federal Trade Commission, treating violations as unfair or deceptive practices under existing law.