This bill strengthens federal oversight of the financial sector by expanding regulatory authority in two main areas. First, it modifies the Federal Credit Union Act to give regulators clearer procedures for examining credit unions and their service providers, including requirements for how credit unions must notify regulators about certain activities. Second, it grants the Director of the Federal Housing Finance Agency new authority to regulate and examine service providers that work on behalf of government-sponsored enterprises like Fannie Mae and Freddie Mac, treating these outside service providers the same as if they were internal operations. The bill requires financial institutions to notify federal regulators within thirty days when they contract with service providers to perform activities on their behalf. The legislation does not appear to include specific funding allocations or implementation timelines beyond the thirty-day notification requirement.