Today, House Financial Service Committee Chairman French Hill (R-AR) and Senate Banking Committee Chairman Tim Scott (R-SC) introduced Congressional Review Act (CRA) resolutions to overturn the Biden Administration’s Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees at banks and credit unions. The committee leaders cited the rule’s impact on access to important financial services and reiterated that lawful and contractually agreed upon payment incentives promote fin...
Earlier this week, the Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee, chaired by Rep. Bryan Steil (WI-01), held a hearing examining several bills and discussion drafts to cement U.S. leadership in the digital asset space. The Committee is soliciting feedback from the public on its stablecoins discussion draft. Interested members of the public may send their comments to: fsc119@mail.house.gov. Chair Steil and Coy Garrison, Partner, Steptoe LLP, emphasized the exis...
Today, the House Financial Services Committee, led by Chairman French Hill (AR-02), is holding the Federal Reserve’s Semi-Annual Monetary Policy Report hearing. Watch Chairman Hill’s opening remarks here. Read Chairman Hill’s opening remarks as prepared for delivery: "Welcome Chairman Powell and thank you for being here today. "For the last four years, inflation has crushed Americans. Today, it takes $1.21 to purchase what cost $1.00 in January of 2021, as measured by the Consumer Price Index. "...
Today, House Financial Services Committee Chairman French Hill (AR-02) delivered remarks on the House floor to express his deep dismay for all rulemakings by the Consumer Financial Protection Bureau (CFPB) at the end of the Biden-Harris Administration. Watch Chairman Hill’s opening remarks here. Read Chairman Hill’s opening remarks as prepared for delivery: “I come to the House floor tonight to express my deep dismay for the plethora of midnight rulemakings we saw at the end of the Biden-Harris ...
