Cmte Financial Services (R) RSS Articles

Chairman Hill Statement on Bipartisan Amendment to the 21st Century ROAD to Housing Act

Thu, 14 May 2026 04:00:00 GMT

House Committee on Financial Services Chairman French Hill (AR-02) issued the following statement on the House amendment to the 21^st Century ROAD to Housing Act, which passed the Senate.

“I share in President Trump’s commitment to delivering a housing bill that puts American families first, expands access to home ownership, and enhances affordability. Over the last couple of months, we’ve heard clear concerns from hundreds of members and stakeholders, and this bipartisan amendment reflects that feedback. It cuts unnecessary barriers to new home construction, modernizes HUD programs, and allows banks to more freely deploy funding into their communities. We must get this right – and I am committed to working hard to do that.”

Chairmen Hill, Thompson Statement on Senate Banking Committee Advancing the CLARITY Act

Thu, 14 May 2026 04:00:00 GMT

House Committee on Financial Services Chairman French Hill (AR-02) and House Committee on Agriculture Chairman Glenn “GT” Thompson (PA-15) issued the following statement after the U.S. Senate Banking Committee advanced the CLARITY Act out of committee.

“Last July, the House sent a strong bipartisan message when 78 Democrats joined 216 Republicans to pass the CLARITY Act. On January 29, 2026, Senate Agriculture Committee Chairman John Boozman (R-AR) took the first step and advanced digital asset market structure legislation. We commend Chairman Tim Scott (R-SC) and the Senate Banking Committee for continuing that momentum and moving this bill forward.

“This landmark bill brings long-overdue certainty to the digital asset ecosystem and solidifies the United States as the global leader in the future of blockchain use in financial services. A clear framework will protect consumers, encourage responsible innovation, and keep investment and technological development here in the United States.

“We look forward to continuing to work with our Senate colleagues as the Banking and Agriculture Committees finalize the CLARITY Act and advance this historic legislation to the Senate floor. We must get a strong, durable framework that reflects the priorities of both Chambers across the finish line and to President Trump’s desk.”

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Financial Services Advances 6 Bills

Thu, 14 May 2026 04:00:00 GMT

The House Committee on Financial Services, led by Chairman French Hill (AR-02), successfully reported 6 bills to the House of Representatives.

“Yesterday, we advanced legislation that reflects the Committee's core mission of promoting financial innovation, strengthening consumer protections, and ensuring our regulatory framework keeps pace with a rapidly evolving financial landscape,” said Chairman Hill.

H.R. 5396, the Price Stability Act of 2025, sponsored by Chairman Hill, Rep. Byron Donalds (FL-19), and Rep. Marlin Stutzman (IN-03), passed 30-21 on a bipartisan basis. This bill replaces the Federal Reserve’s dual mandate with a single price stability mandate to ensure that the Federal Reserve remains focused on fighting and preventing inflation.

Watch Chairman Hill’s remarks here.
Watch Rep. Stutzman’s remarks here.

H.R. 2978, the Guarding Unprotected Aging Retirees from Deception (GUARD) Act, sponsored by Rep. Zach Nunn (IA-03), Rep. Scott Fitzgerald (WI-05), and Rep. Josh Gottheimer (NJ-05), passed 52-0. This bill targets financial fraud and exploitation risks for elderly Americans by strengthening protections, improving detection tools, and enhancing enforcement against scams affecting retirees.

Watch Rep. Nunn’s remarks here.
Watch Subcommittee on National Security, Illicit Finance, and International Financial Institutions Chairman Warren Davidson’s (OH-08) remarks here.

H.R. 2152, the Artificial Intelligence Practices, Logistics, Actions, and Necessities (AI PLAN) Act, sponsored by Rep. Nunn and Rep. Jim Himes (CT-04), passed 52-0. This bill directs federal agencies to jointly assess the national and economic security risks posed by the use of AI in financial crimes. The bill also requires recommendations for legislative action, agency resource needs, and public- and private-sector best practices to mitigate these emerging threats.

Watch Rep. Nunn’s remarks here.

H.R. 4801, the Unleashing AI Innovation in Financial Services Act, sponsored by Chairman Hill, Rep. Richie Torres (NY-15), Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil (WI-01), and Rep. Gottheimer, passed 33-19 on a bipartisan basis. This bill requires financial regulators to establish AI Innovation Labs that allow regulated entities to test AI applications within regulatory sandboxes. These sandboxes would permit firms to pilot financial products and services under tailored regulatory relief, subject to agency approval, conditions, and alternative compliance safeguards.

Watch Chairman Hill’s remarks here.
Watch Rep. Steil's remarks here.

H.R. 8278, the Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision (FUTURES) Act , sponsored by Rep. Stutzman and Rep. Bill Foster (IL-11), passed 52-0. This bill requires financial regulators to assess whether their technology systems, supervisory tools, and data infrastructure are sufficient to support real-time oversight of regulated firms. The bill also directs agencies to review procurement practices and report to Congress on their technology capabilities, workforce, data-sharing processes, and modernization needs.

Watch Rep. Stutzman’s remarks here.

H.R. 8671, the Bank Fraud Technology Advancement Act of 2026, sponsored by Subcommittee on Housing and Insurance Chairman Mike Flood (NE-01) and Rep. Brittany Pettersen (CO-07), passed 52-1. This bill enhances fraud detection and prevention in the banking system by directing financial regulators to assess how AI and other advanced technologies are being used to combat financial fraud, identify barriers facing community banks and credit unions, and expand access to fraud-fighting technology through a voluntary pilot program.

Watch Rep. Flood’s remarks here.
Watch Rep. Steil’s remarks here.

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House Passes Four Financial Services Bills

Wed, 13 May 2026 04:00:00 GMT

Yesterday, the House of Representatives passed four bills from the House Committee on Financial Services.

H.R. 2071- Save Our Shrimpers Act, sponsored by Rep. Troy Nehls (TX-22), passed the House by a recorded vote of 391-18-1. H.R. 2071 requires the United States to oppose financing for foreign shrimp farming through the international financial institutions, supporting American shrimp producers facing unfair foreign competition.

Watch Chairman French Hill (AR-02) speak in support of the bill here.
Watch Rep. Nehls speak in support of the bill here.

H.R. 4437- Supervisory Modifications for Appropriate Risk-Based Testing (SMART) Act of 2025, sponsored by Rep. William Timmons (SC-04), unanimously passed the House by voice vote. H.R. 4437 tailors supervisory requirements for smaller institutions that are well managed and well capitalized, allowing community financial institutions to focus more resources on serving customers and local economies.

Watch Chairman Hill speak in support of the bill here.
Watch Rep. Timmons speak in support of the bill here.

H.R. 3709- Advancing the Mentor-Protege Program for Small Financial Institutions Act, sponsored by Rep. Joyce Beatty (OH-03), unanimously passed the House by voice vote. H.R. 3709 codifies the mentor-protege program at the Department of Treasury, which pairs rural and small financial institutions with larger institutions to strengthen their capacity to partner with the federal government and expand access to responsible financial services.

Watch Chairman Hill speak in support of the bill here.

H.R. 4478- the Tailored Regulatory Updates for Supervisory Testing (TRUST) Act of 2025, sponsored by Rep. Tim Moore (NC-14), unanimously passed the House by voice vote. H.R. 4478 allows smaller banks that are well managed and well capitalized to be examined less frequently, which reduces unnecessary compliance costs, increases their time serving customers, and maintains strong oversight and financial stability.

Watch Chairman Hill speak in support of the bill here.
Watch Rep. Moore speak in support of the bill here.

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Chairman Hill: We Cannot Fight a 21st-Century Threat with 20th-Century Tools

Wed, 13 May 2026 04:00:00 GMT

Today, the House Financial Services Committee, led by Chairman French Hill (AR-02), is holding a markup of various bills that reflect the Committee's long-standing efforts to strengthen our financial system, promote innovation, and protect the American people.

Read Chairman Hill's remarks as prepared for delivery:

"Good morning.

"Before us today is an opportunity to advance legislation that reflects the Committee's core mission of promoting financial innovation, strengthening consumer protections, and ensuring our regulatory framework keeps pace with a rapidly evolving financial landscape.

"I’m grateful to the members who have worked across the aisle to bring them forward.

"The measures we’ll be discussing today represent important steps in addressing the growing threat posed by increasingly sophisticated fraud schemes that use artificial intelligence and other emerging technologies to exploit victims and evade detection.

"AI is transforming nearly every sector of our economy, and the financial services industry is no exception.

"The same tools that help banks detect fraud and serve customers more efficiently can also be weaponized by bad actors to carry out scams at unprecedented scale and speed.

"Without a clear national strategy, we risk falling behind.

"The United States must have a coordinated approach to detect, prevent, and respond to AI-enabled financial crime.

"This is what the bills before us today accomplish.

"The AI Plan Act, led by Representatives Nunn and Himes, directs the executive branch to develop a comprehensive plan to safeguard our financial system and sensitive data against the misuse of AI technologies.

"The truth is, we cannot fight a 21st-century threat with 20th-century tools.

"That is why we must use proven, commonsense tools that allow regulators and innovators to learn together and adapt to rapidly evolving technology.

"The Unleashing AI Innovation in Financial Services Act, which I introduced alongside Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chairman Bryan Steil and Reps. Gottheimer and Torres, embrace that approach by promoting the responsible use of AI in financial services through regulatory sandboxes that allow federal agencies to test and evaluate emerging technologies safely.

"Representative Flood's Bank Fraud Technology Advancement Act complements that effort by directing federal regulators to study how institutions use advanced fraud detection technologies and establish a voluntary pilot program to help smaller banks and credit unions access these tools.

"As bad actors increasingly leverage new technologies to target vulnerable individuals, it is more important than ever that law enforcement has the tools necessary to respond effectively.

"The GUARD Act, led by Representatives Nunn, Gottheimer, and Fitzgerald, strengthens law enforcement's ability to investigate and combat financial scams targeting seniors.

"The bill ensures state, local, and Tribal agencies can access federal grant funding for these investigations, while improving coordination with federal agencies and expanding access to blockchain tracing tools used to combat illicit activity.

"Elder financial fraud is one of the most devastating crimes we see in this country. Seniors lose billions of dollars every year to scammers, and far too often, those losses are never recovered.

"The GUARD Act gives law enforcement the resources and coordination they need to pursue these criminals and deliver justice for victims.

"In addition, Representatives Stutzman and Foster's FUTURES Act works to modernize the technological capabilities of our federal financial regulators by requiring them to assess their current capabilities and identify where gaps may exist. This legislation will also help to combat fraud.

"It is vital that our federal financial agencies are equipped to oversee increasingly complex and fast-moving markets.

"Lastly, we are also considering legislation aimed at strengthening the broader foundation of our economy and promoting long-term economic stability.

"My bill, the Price Stability Act of 2025, seeks to refocus the Federal Reserve on its core mission of maintaining price stability, an essential component of long-term economic growth.

"The bill will keep the central bank focused on managing inflation.

"Together, the bills we are marking up today reflect the Committee's long-standing bipartisan efforts to strengthen our financial system, promote innovation, and protect the American people.

"I thank all my colleagues who worked on these measures for their dedication and hard work.

"I look forward to today's discussion, and I yield back."

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Chairman Hill Welcomes Kevin Warsh as New Federal Reserve Chairman

Wed, 13 May 2026 04:00:00 GMT

House Committee on Financial Services Chairman French Hill (AR-02) issued the following statement after the U.S. Senate confirmed Kevin Warsh to serve as Chairman of the Federal Reserve Board of Governors:

"I want to congratulate Kevin Warsh on his confirmation as the next Chairman of the Federal Reserve. With his prior service on the Federal Reserve Board of Governors and his decades of experience in academia and the financial markets, he is a highly qualified individual who understands the Fed’s responsibilities, challenges, and potential.

"Chairman Warsh has repeatedly emphasized the importance of placing affordability and price stability at the center of our economic agenda. I look forward to working with Chairman Warsh as we continue the fight against inflation, making life more affordable for the American people, and refocusing the Federal Reserve on its core mission. His commitment to disciplined monetary policy will help restore confidence in our economy and support long-term prosperity.”

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Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity Reviews Derivatives’ Role in the Treasury Market

Thu, 30 Apr 2026 04:00:00 GMT

Yesterday, the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, led by Chairman Frank Lucas (OK-03), held a hearing entitled, “Examining Derivatives’ Role in the Treasury Market.” Members reviewed how derivatives, such as futures and swaps, interact with the Treasury markets and increase market liquidity.

On Treasury Market Resilience:

Task Force Chairman Lucas said, “It’s important that Congress continues to support the resilience of the Treasury derivatives markets as these instruments are so closely linked to the bedrock of the global financial system. We must especially pay attention now as the industry undergoes a fundamental market structure shift with the looming deadlines for central clearing of Treasury cash and repo in December and next June, respectively.”

Full Committee Chairman French Hill (AR-02) said, "The strength of the U.S. Treasury market depends not just on its size, but on its depth, liquidity, and resilience. Today we will examine how derivatives markets support that foundation. These instruments play a critical role in price discovery, risk management, and overall market functioning—and when used effectively, derivatives certainly can enhance liquidity in Treasury markets, ensuring greater stability.”

On the Importance of Derivatives:

Full Committee Vice Chairman Bill Huizenga (MI-04) questioned witnesses on how companies can hedge risk efficiently using derivatives, to which Mr. Kevin McPartland, Head of Research, Market Structure and Technology, Crisil Coalition Greenwich, responded, “What we want corporations to focus on is building those products and services and making them accessible and as affordable as they can, giving the input costs. So, what derivatives allows them to do is focus on that right to focus on the product and the consumer and growing without as much having to worry about fluctuations in whether it be financial markets or agriculture or energy markets. This is arguably or maybe not arguably why the derivatives market was created.”

Housing and Insurance Subcommittee Chairman Rep. Mike Flood (NE-01) questioned witnesses on what a well-functioning futures market would mean for American farmers, to which Mr. Terrence A. Duffy, Chairman and Chief Executive Officer, CME Group, said, “I think it's critically important that the commercials and producers have the characteristics of the futures contract. Futures contracts were never designed for speculators. Speculators are embraced in futures markets, but they're not made for speculators. They're made for the commercials and producers. And that's a critical component. And I think we've lost a little bit of our sight going forward on that part. So, I'm a big proponent of speculation in markets, because I think it helps create liquidity for the market, because of a commercial wanting this price and a producer wanting that price. We need somebody to fill that in. I think for the great people in Nebraska and for the people of this world that need food, which comes out of Nebraska and other great midwestern states, we need to make sure it's efficient, and we need the ecosystem to work properly. So, I would hope that this congress would recognize the importance of all the ecosystems that go into allowing people to risk manage that, the food that we consume in this country, and that we ship across the world.”

On the Previous Basel III Proposal:

Financial Institutions Subcommittee Chairman Andy Barr (KY-06) questioned witnesses on how the previous Basel III Endgame proposal disadvantaged central clearing, to which Mr. McPartland responded, “Thankfully, we've seen an uptick in bank holdings of U.S. Treasuries. That's a great advancement and that's what we want. That is what those primary dealers are there for. But the previous or existing rules, in some ways, penalized banks for those holdings. They didn't recognize the true risk, right? So offsetting the derivatives with the bonds, right? Really that neutralizes a lot of that risk.”

Rep. Troy Downing (MT-02) questioned witnesses on how the Basel III reproposal alleviates issues caused by the 2023 proposal in regard to banks use of derivatives, to which Mr. Jeff Cranston, Head of Corporate Strategy, Optiver, replied, “I would first just want to highlight again that the Basel reproposal is a significant step forward for central clearing for the ability for, FCMs and prime brokers to be able to support that increased demand, as well as continue to support the entire derivatives landscape. So, I think significant progress has been made on that and look forward to continued process of prudential rulemaking. I think an additional area that could have further benefit for derivatives is recognizing the cross-product netting within derivatives, as well as the cross-margining aspect, and ensuring that those risk reducing attributes are reflected properly in risk-based capital measures.”

Witnesses Echoed the Work of the Committee:

Mr. McPartland said, “The transparency of this critical market has also seen tremendous growth. We have transitioned from weekly volume reports in 2020 that included only primary dealer activity to the current reporting regime that provides public access to daily trading activity by market segment, and the details of nearly every on-the-run U.S. Treasury coupon bond traded each day. This has brought the Treasury market more closely in line with other U.S. securities and listed derivatives markets, ensuring that investors and market participants of all types and sizes have the information they need to make informed decisions.”

Mr. Duffy said, “Derivatives are foundational to the price discovery, liquidity, and functionality of the U.S. Treasury markets. Highly liquid Treasury futures allow market participants to secure risk management hedges in customizable sizes without having to source the individual Treasury securities. … By providing a highly liquid and transparent, on-going, auction system, Treasury futures provide a forum for markets to quickly price in new and emerging information, assess the risk participants are seeking to hedge, evaluate market predictions, and achieve a clearer understanding of the future price of Treasury securities. The cash-futures basis trade serves as a link that brings market efficiency and forces prices to converge at settlement.”

Mr. Cranston said, “The U.S. Treasury market is one of the most important financial markets in the world. It provides the primary mechanism through which the federal government funds itself. Treasury securities serve as a primary benchmark of safe and liquid assets for banks, money market funds, pension plans, and central banks, enabling them to manage liquidity, secure financing, and store value. Maintaining a resilient and liquid Treasury market is critical to economic stability and to preserving the U.S. dollar’s role as the world’s reserve currency. Derivatives play a central role in supporting liquidity, enabling the transfer of risk, and promoting efficient price discovery and more orderly price movements in the Treasury market.”

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Hill, Barr on CFPB’s Final 1071 Rule

Thu, 30 Apr 2026 04:00:00 GMT

House Committee on Financial Services Chairman French Hill (AR-02) and Financial Institutions Subcommittee Chairman Andy Barr (KY-06) issued the following statement on the Consumer Financial Protection Bureau’s (CFPB) final rule on Section 1071:

“We commend the CFPB’s final rule on small business lending data collection. While the previous administration’s flawed regulation would have risked cutting off credit to the small businesses that need it most, this revised approach will reduce complexity for lenders, strengthen privacy protections, provide more workable compliance timelines, and better reflect the realities of relationship-based small business lending.

“At the same time, Congress has an important role to play to codify these changes and make additional statutory reforms. Financial Services Committee Republicans support a repeal of Section 1071 of the Dodd-Frank Act but have advocated for reforms like those in the Small LENDER Act, which would exempt smaller institutions, extend compliance dates, and ensure the regulation is voluntary.

“This final rule is a step in the right direction and will help ensure a strong, competitive lending market that delivers access to credit for small businesses across Arkansas, Kentucky, and the country.”

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Full Committee Reviews Updated Basel III and Capital Framework Proposals

Wed, 29 Apr 2026 04:00:00 GMT

Yesterday, the House Committee on Financial Services held a hearing examining how the Trump Administration’s revised capital proposals, including Basel III, are appropriately right-sized to strike the proper balance between safety and soundness and economic growth.

On 2026 Proposals Compared to 2023 Basel III Proposal:

Subcommittee on Financial Institutions Subcommittee Chairman Andy Barr (KY-06) said, “Last Congress, this Committee devoted significant time encouraging our banking regulators to get bank capital right. We called for a careful assessment of both the costs and benefits of Basel III finalization and a recognition that banks today hold substantially more – and higher-quality – capital than they did two decades ago. We were clear that the original 2023 proposal lacked sufficient economic analysis, failed to account for overlapping requirements, and risked unnecessary disruptions to essential bank lending and capital markets activities. It is encouraging to see our banking regulators under the Trump Administration address many of these bipartisan concerns and move to a more pro-growth, tailored, and evidence-based approach in their recently released capital proposals. These proposals reduce unnecessary complexity and gold-plating that put U.S. banks at a competitive disadvantage."

On Supporting Market Stability and Economic Growth:

Full Committee Vice Chairman Bill Huizenga (MI-04) said, “American capital markets are the broadest and deepest in the world, and it is important that bank capital requirements promote their proper functioning. The prior administration’s overly punitive proposal would have had significant consequences for banks’ securities underwriting, derivative hedging, securitization, and equity investments in funds. The revised proposal does more to ensure that banks continue their crucial work as intermediaries and that risks flow to those most able to manage them.”

Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil (WI-01) questioned witnesses on how the revised capital proposal framework improves on the flawed 2023 version for Americans looking to own a home, to which Mr. Robert D. Broeksmit, President & Chief Executive Officer, Mortgage Bankers Association said, "Well, one of the main improvements as it relates to mortgages in this newer proposal, for which we commend the regulators, is to get rid of this gold plating. The previous proposal had as much as a 40% increase in how much capital a bank would have to hold to keep a loan on its balance sheet. And that's done away with in this proposal. This proposal has also made the capital that you need to retain lower if the borrower has more equity, which makes common sense — if you have a failure, you're not going to have a loss."

Subcommittee on Financial Institutions Chairman Andy Barr (KY-06) asked Mr. Greg Baer, President & Chief Executive Officer, Bank Policy Institute, to outline why the higher capital requirements under the Biden Administration’s Basel III proposal were counterintuitive and constrain banks’ ability to lend, to which Mr. Baer replied, "There is a cost and the most expensive way for a bank or any other company for that matter, to fund itself is through equity. And that is why most companies try to diminish the amount of equity that they have to hold. Again, as someone who's worked inside a bank, you, the CFO, the corporate folks, they know how much equity costs, they know their cost of capital. And they monitor it and they meet it out to the lines of business that can earn the highest return on that equity. They do not ignore the cost of equity. And of course, if you read any analyst's report, talk to any investor — they're all very focused on this proposal. Under that analysis, they would be completely indifferent because the increase in costs for equity would be matched by a decrease in costs for debt. But everybody operating in the markets, all people who invest in banks, know that's not the case."

Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity Chairman Frank Lucas (OK-03) said, “The Basel re-proposal we're discussing today is a dramatic improvement from the 2023 proposal, and I laud Vice Chair Bowman's hard work to release it less than a year after assuming a role... This proposal ensures capital requirements do not reduce our lending capacity, market liquidity, or other market making activity that banks provide to support the economy. The previous Basel proposal received a record volume of comments expressing concerns over the negative impact it would have had on lending capacity in our banking systems.”

Rep. John Rose (TN-06) questioned witnesses on how increased bank capital requirements could threaten liquidity in agricultural futures markets and harm producers and end users, to which Mr. Reginald Griffith, Global Head of Regulatory Compliance, Louis Dreyfus Company, on behalf of the Commodity Markets Council said, "I think the biggest concern would be that the sector isn't able to fully manage its risks. That's number one. And as bank capital requirements go up, our access to clearing could potentially be limited. So that leads to not only higher prices, but it leads to more risk that's pushed down the food chain. Farmers — I know we don't want banks to go under, but we also don't want farmers to have to hold unnecessary risk. And if the bank capital is overly burdensome, they're going to have to hold a lot more risk than they do today. The other thing that is clear would happen is if costs go up — the large commercials may be able to absorb a little bit of that, but that's going to flow down to farmers. And the margins are already very thin in the farming community. The costs are only going to increase if we choose overly burdensome capital requirements on our banks. I think the 2026 proposal is a nice balance between the two. There are some additional safeguards, but I also think it would be a balance that wouldn't be burdensome on the agriculture community or on farmers."

On How the Revised Proposal Restores Access to Credit:

Subcommittee Chairman on Capital Markets Chairman Ann Wagner (MO-02) said, “The original 2023 Basel III proposal would have had drastic consequences on securitization, which plays a vital role in helping banks manage their balance sheets and making credit, most importantly, credit more affordable and available to constituents who need it to finance a home purchase or perhaps a business.”

Subcommittee on Oversight and Investigations Chairman Dan Meuser (PA-09) said, “A well calibrated capital framework is one of the most important tools we have in ensuring the growth of our nation's economy and protecting small business’ ability to access capital. Thanks to the terrific work of Fed Vice Chair Michelle Bowman, the newly proposed framework seeks to achieve that goal protecting our economy while avoiding overly stringent requirements, that, in the end, restrict lending and hinder growth. The revised Basel III proposal reduces burdensome capital requirements on regional community banks in support of a pro-economic growth framework that avoids the negative effects of the previous proposals that truly would have harmed access to capital for every American.”

Witnesses Echoed the Work of the Committee:

Mr. Baer said, “Contemporaneous finalization of these three proposals would remove almost a decade of uncertainty about Basel implementation in the United States and lift a veil of secrecy from the Federal Reserve’s stress test. Investors will be able to know what a bank’s capital requirement is and project with confidence what it will be in the future — just like investors in any other type of company. For their part, banks will be able to engage in more thoughtful capital and business planning. As a result, banks’ cost of capital will decrease, their ability to serve their customers efficiently will increase and the economy will benefit in an indirect but significant way.”

Mr. Broeksmit said, “I want to step back from the technical language of risk weights and instead briefly tell you what these capital rules mean to a family buying or renting a home. First, let me say clearly the agencies have listened. This new proposal is meaningfully better than the current bank capital framework, and the proposed revisions in 2023 that would have caused serious disruption to both residential and commercial real estate markets. Let me focus on three areas of the proposal where the details will have real consequences for real people. When a bank originates a mortgage and sells it into the secondary market, it often retains the right to collect payments. The mortgage servicing asset, or MSA, that servicing right has value, and it's a key component of how banks price new loans. In 2013, under the first phase of Basel III, regulators raised the risk weight on MSAs from 100% to 250%, with no empirical justification. In practical terms, this took the capital requirement on the value of mortgage servicing from $0.08 on the dollar to $0.20 on the dollar. The result was predictable. Banks looked at that capital cost and walked away from mortgage servicing with their share of single-family servicing falling from 88% in 2012 to 39% today. That's not a market trend. That's a regulatory outcome. Here's why that matters. For borrowers, the value of a servicing right is a direct input into mortgage pricing. When bankers are active and consistent buyers of servicing, that competition drives the value of the MSA, and every increase in servicing value translates directly into lower costs for the borrower. At origination, a 25 basis point increase in servicing value is a 25 basis point reduction in closing costs. That's $1,000 in savings on a $400,000 loan. It's not abstract. It goes right back into the borrower's pocket. MBA strongly supports reducing the MSA risk rate back to 100%.”

Mr. Griffith said, “We believe the March 2026 capital proposals strike an appropriate balance by strengthening safeguards while preserving market liquidity and clearing capacity. By contrast, the 2023 Basel III endgame proposal we fear would undermine these objectives by increasing costs, reducing clearing capacity, and pushing risk away from transparent, centrally cleared markets. We believe the 2026 proposal better supports the long-term stability and efficiency of agricultural hedging markets.”

Mr. Luigi L. De Ghenghi, Partner, Davis Polk & Wardwell LLP said, “The 2023 proposed rules were issued by the banking agencies with an impact and economic analysis summary that was eight pages long and without the benefit of an extensive data collection effort to measure the potential impact of the proposed rules on affected banking organizations’ RWAs. In contrast, the three 2026 proposed rules include an impact and economic analysis summary that is 95 pages long and that takes into account the results of the data collection effort from 2023 as well as data reported by banking organizations on various regulatory reports through June 2025. The banking agencies’ impact and economic analysis summarizes not only the expected impact of the 2026 proposed rules, but also the cumulative impact of other final or proposed changes to bank capital requirements, such as the final rule modifying the Enhanced Supplementary Leverage Ratio (eSLR) and the proposed changes to various aspects of the Federal Reserve’s stress testing and stress capital buffer framework.”

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Lucas: Derivatives Markets are Key to Managing Treasury Market Risk

Wed, 29 Apr 2026 04:00:00 GMT

Today, the House Financial Services Committee is holding a Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity hearing, led by Task Force Chairman Frank Lucas (OK-03), to examine the critical role derivatives play in managing risk in the Treasury market.

Read Task Force Chairman Lucas' opening remarks as prepared for delivery:

"Welcome to today’s Task Force hearing examining derivatives’ role in the Treasury market. Thank you to our witnesses for providing their invaluable expertise.

"The Treasury market is the deepest, most liquid, most important market in the world. Today we’re discussing an aspect of the Treasury market that continues to grow in popularity and raises important questions ahead of anticipated market structure changes and capital rulemaking.

"Part ofthe depth and liquidity of the Treasury market is driven by trading on swaps, options, and futures on the underlying cash Treasury.

"These derivatives markets are key to managing risk. They allow market participants to hedge their exposures, creating demand for Treasuries, increasing market liquidity, and supporting price discovery and health of the broader Treasury market.

"As a recent paper from the Chicago Fed has pointed out: “enhanced liquidity in the derivatives market strengthens the functioning of the cash market” and “the enhanced liquidity supports more stable, lower-cost public financing.”

"It’s important that Congress continues to support the resilience of the Treasury derivatives markets as these instruments are so closely linked to the bedrock of the global financial system.

"We must especially pay attention now as the industry undergoes a fundamental market structure shift with the looming deadlines for central clearing of Treasury cash and repo in December and next June, respectively.

"The SEC, under the leadership of Chairman Atkins, has been responsive to industry comments and proposals to make sure the transition to mandatory clearing causes no disruptions in the Treasury market. A recent example includes the approval of two additional CCPs, increasing customer choice and competition while reducing concentration risk.

"Demand for Treasury derivatives is rising and with it demand for cash and for clearing. It is absolutely critical that our capacity for clearing these transactions rises in kind.

"Last week the SEC and CFTC also granted exemptive relief to allow customer cross-margining of off-setting exposures of cash and futures positions for Treasuries.

"This is a welcome step to ease the transition to mandatory clearing, and as witness testimony has pointed out, will allow the redeployment of capital back into our Treasury markets.

"I’m hopeful that all this risk-reducing activity will be fully recognized in the capital rules proposed by the bank regulators as we discussed yesterday in the full committee hearing on the topic.

"We have substantial data and experience on the benefits of clearing from a risk management and margin efficiency standpoint due to its use in derivatives markets, but getting the transition right to the broader Treasury market will take Congress, the regulators, and the industry working in lock step together.

"I look forward to our discussion today. I yield back."

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Hearing Entitled: From Order to Execution: Ensuring Efficient and Transparent Equity Markets”

Wed, 20 May 2026 18:00:00 GMT

Click here to view the livestream of this hearing.

Hearing Entitled: Partnering for Innovation: How Bank-Fintech Collaborations Enhance Financial Infrastructure

Wed, 20 May 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Hearing Entitled: Modernizing the BSA for Financial Crime in the 21st Century

Thu, 21 May 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Markup of Various Measures

Wed, 13 May 2026 14:00:00 GMT

Click here to view the livestream of this markup.

Click here to view the Committee Memorandum.

Click here for the e-voting pictures.

Legislation

H.R. 2152, the Artificial Intelligence Practices, Logistics, Actions, and Necessities (AI PLAN) Act (as amended), was AGREED TO by a recorded vote of 52 YEAS and 0 NAYS. (FC Vote #279)

H.R. 2978, the Guarding Unprotected Aging Retirees from Deception (GUARD) Act (as amended), was AGREED TO by a recorded vote of 52 YEAS and 0 NAYS. (FC Vote #276)

H.R. 4801, the Unleashing AI Innovation in Financial Services Act (as amended), was AGREED TO by a recorded vote of 33 YEAS and 19 NAYS. (FC Vote #284)

H.R. 5396, the Price Stability Act of 2025 (as amended), was AGREED TO by a recorded vote of 30 YEAS and 21 NAYS. (FC Vote #274)

H.R. 8278, the Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision (FUTURES) Act (as amended), was AGREED TO by a recorded vote of 52 YEAS and 0 NAYS. (FC Vote #285)

H.R. 8671, the Bank Fraud Technology Advancement Act of 2026 (as amended), was AGREED TO by a recorded vote of 52 YEAS and 1 NAY. (FC Vote #286)

Amendments

ANS to H.R. 2978, offered by Rep. Nunn of Iowa, designated as Nunn_145, was AGREED TO by voice vote.

An amendment, designated GUARD_AMEND2 (Waters 2), was NOT AGREED TO by a recorded vote of 22 YEAS and 30 NAYS. (FC Vote #275)

ANS to H.R. 5396, offered by Rep. Hill of Arkansas, designated as HILLAR_090, was AGREED TO by voice vote.

An amendment, designated HR5396_01 (Waters 1), was NOT AGREED TO by a recorded vote of 22 YEAS and 28 NAYS. (FC Vote #270)
An amendment, designated PRESSMA_076 (Pressley 1), was NOT AGREED TO by a recorded vote of 22 YEAS and 29 NAYS. (FC Vote #271)
An amendment, designated PRESSMA_077 (Pressley 2), was ruled out of order by the Chair as nongermane.
An amendment, designated PRESSMA_075 (Pressley 3), was NOT AGREED TO by a recorded vote of 20 YEAS and 31 NAYS. (FC Vote #272)
An amendment, designated HR5396_03 (Pressley 4), was NOT AGREED TO by a recorded vote of 22 YEAS and 29 NAYS. (FC Vote #273)

ANS to H.R. 8671, offered by Rep. Flood of Nebraska, designated as FLOOD_036, was AGREED TO by voice vote.

ANS to H.R. 2152, offered by Rep. Nunn of Iowa, designated as NUNN_14, was AGREED TO by voice vote.

An amendment, designated HR2152_02 (Waters 3), was NOT AGREED TO by a recorded vote of 22 YEAS and 30 NAYS. (FC Vote #277)
An amendment, designated FOSTER_082 (Foster 1), was AGREED TO by a recorded vote of 52 YEAS and 0 NAYS. (FC Vote #278)

ANS to H.R. 4801, offered by Rep. Hill of Arkansas, designated as HILLAR_086, was AGREED TO by voice vote.

An amendment, designated HR4801_01 (Waters 4), was NOT AGREED TO by a recorded vote of 23 YEAS and 30 NAYS. (FC Vote #280)
An amendment, designated LYNCH_058 (Lynch 1), was NOT AGREED TO by a recorded vote of 21 YEAS and 32 NAYS. (FC Vote #281)
An amendment, designated LYNCH_060 (Lynch 2), was NOT AGREED TO by a recorded vote of 22 YEAS and 31 NAYS. (FC Vote #282)
An amendment, designated LYNCH_061 (Lynch 3), was NOT AGREED TO by a recorded vote of 23 YEAS and 30 NAYS. (FC Vote #283)

ANS to H.R. 8278, offered by Rep. Stutzman of Indiana, designated as STUTZM_045, was AGREED TO by voice vote.

Hearing Entitled: Examining Derivatives’ Role in the Treasury Market

Wed, 29 Apr 2026 14:00:00 GMT

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Witnesses

Mr. Kevin McPartland, Head of Research, Market Structure and Technology, Crisil Coalition Greenwich
Mr. Terrence A. Duffy, Chairman and Chief Executive Officer, CME Group
Mr. Jeff Cranston, Head of Corporate Strategy, Optiver
Professor Yesha Yadav, Milton R. Underwood Chair, Professor of Law and Associate Dean, Vanderbilt University Law School

Hearing Entitled: Prioritizing Main Street: Evaluating the Impact of Capital Proposals on Economic Growth and American Communities

Tue, 28 Apr 2026 14:00:00 GMT

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Witnesses

Mr. Greg Baer, President & Chief Executive Officer, Bank Policy Institute
Mr. Robert D. Broeksmit, President & Chief Executive Officer, Mortgage Bankers Association
Mr. Luigi L. De Ghenghi, Partner, Davis Polk & Wardwell LLP
Mr. Reginald Griffith, Global Head of Regulatory Compliance, Louis Dreyfus Company, on behalf of the Commodity Markets Council
Ms. Mayra Rodriguez Valladares, Managing Principal, MRV Associates

Hearing Entitled: Evaluating the Effectiveness of U.S. Sanctions Programs

Wed, 22 Apr 2026 18:00:00 GMT

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Witnesses

The Honorable Jonathan Burke, Assistant Secretary for Terrorist Financing, U.S. Department of the Treasury

Hearing Entitled: Diversifying Risk: The Benefits of Reinsurance and Credit Risk Transfers

Wed, 22 Apr 2026 14:00:00 GMT

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Witnesses

Mr. Anthony Vidovich, Executive Vice President and General Counsel, Everest Group
Mr. Ben Walker, Executive managing Director, Aon Reinsurance
Mr. Jerry Theodorou, Director of Finance, Insurance, and Trade Policy Program, R Street Institute
Dr. Susan M. Wachter, Albert Sussman Professor of Real Estate, Professor of Finance, The Wharton School of the University of Pennsylvania, and co-director of the Penn Institute for Urban Research

Markup of Various Measures

Tue, 21 Apr 2026 14:00:00 GMT

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Click here for e-voting pictures.

Legislation

H.R. 425, the Repealing Big Brother Overreach Act (as amended), was AGREED TO by a recorded vote of 26 YEAS and 25 NAYS. (FC Vote #2 69)

H.R. 941, the Small Lenders Exempt from New Data and Excessive Reporting (LENDER) Act (as amended), was AGREED TO by a recorded vote of 26 YEAS to 22 NAYS. (FC Vote #256)

H.R. 8286, the Protecting Americans’ Retirement Savings from Politics Act (as amended), was AGREED TO by a recorded vote of 27 YEAS to 24 NAYS. (FC Vote #262)

H.R. 8290, the Exchange Rate Accountability Act of 2026 (as amended), was AGREED TO by a recorded vote of 32 YEAS and 20 NAYS. (FC Vote #264)

Amendments

ANS to H.R. 425, designated as DavidsonOH_121, offered by Rep. Davidson of Ohio, was AGREED TO by voice vote.

An amendment, designated HR425_08 (Waters 4), was NOT AGREED TO by a recorded vote of 24 YEAS and 27 NAYS. (FC Vote #265)
An amendment, designated HR425_10 (Beatty 1), was NOT AGREED TO by a recorded vote of 24 YEAS and 27 NAYS. (FC Vote #266)
An amendment, designated HR425_09 (Gonzalez 1), was NOT AGREED TO by a recorded vote of 24 YEAS and 27 NAYS. (FC Vote #267)
An amendment, designated HR425_04 (Waters 5), was NOT AGREED TO by a recorded vote of 25 YEAS and 26 NAYS. (FC Vote #268)

ANS to H.R. 941, designated as HILLAR_076, offered by Rep. Hill of Arkansas, was AGREED TO by voice vote.

An amendment, designated Waters 163 (Waters 1), was NOT AGREED TO by a recorded vote of 20 YEAS and 25 NAYS. (FC Vote #255)

ANS to H.R. 8286, designated as STEILWI_047, offered by Rep. Steil of Wisconsin, was AGREED TO by voice vote.

An amendment, designated Meeks 125 (Meeks 1), was NOT AGREED TO by a recorded vote of 22 YEAS and 26 NAYS. (FC Vote #257)
An amendment, designated Vargas 032 (Vargas 1), was NOT AGREED TO by a recorded vote of 24 YEAS and 26 NAYS. (FC Vote #258)
An amendment, designated Waters 165 (Waters 2), was NOT AGREED TO by a recorded vote of 24 YEAS and 27 NAYS. (FC Vote #259)
An amendment, designated Casten 105 (Casten 1), was NOT AGREED TO by a recorded vote of 24 YEAS and 27 NAYS. (FC Vote #260)
An amendment, designated Tlaib 127 (Tlaib 1), was NOT AGREED TO by a recorded vote of 23 YEAS and 27 NAYS. (FC Vote #261)

ANS to H.R 8290, designated as ERA_ANS, offered by Rep. Sessions of Texas, was AGREED TO by voice vote.

An amendment, designated Amdt 001 (Waters 3), as NOT AGREED TO by a recorded vote of 24 YEAS and 28 NAYS. (FC Vote #263)

Hearing Entitled: Promoting Access to Credit for Everyday Americans

Thu, 16 Apr 2026 14:00:00 GMT

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Witnesses

Mr. Dan Smith, President and Chief Executive Officer, Consumer Data Industry Association
Ms. Rebecca Kuehn, Partner, Hudson and Cook
Mrs. Celia Winslow, President and Chief Executive Officer, American Financial Services Association
Mrs. Veneshia Ferdinand, Director of Compliance Policy, Simmons Bank, on behalf of the American Bankers Association
Ms. Chi Chi Wu, Director of Consumer Reporting and Data Advocacy, National Consumer Law Center

Legislation:

H.R. 5775, the FCRA Liability Harmonization Act
H.R. 5402, the Credit Access and Inclusion Act
H.R. 7588, the Eliminating Fraud in the CFPB’s Complaint Database Act
H.R. 8141,the Fair Credit Reporting Reseller Accuracy Act