Today, House Committee on Financial Services Chairman French Hill (AR-02) and Oversight & Investigations Subcommittee Chairman Dan Meuser (PA-09) released a staff report titled “Fighting Back: A Policy Framework for Combating the Rise of Financial Fraud & Scams.” Over the past year, Committee Republicans have conducted an extensive investigation into the growing threat of financial fraud and scams... Read More »
Yesterday, the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions, led by Chairman Warren Davidson (OH-08), held a hearing to examine efforts to strengthen the national anti-money laundering framework, improve FinCEN’s effectiveness, and combat illicit finance while reducing unnecessary regulatory burdens. On FinCEN’s Fraud Prevent... Read More »
House Committee on Financial Services Chairman French Hill (AR-02), Subcommittee on Financial Institutions Chairman Andy Barr (KY-06), and all Subcommittee members sent a letter to Federal Reserve Vice Chair for Supervision Michelle Bowman, encouraging the Federal Reserve to continue improving the timeliness and efficiency of its review of bank merger and acquisition (M&A) applications. In the let... Read More »
Today, the House Financial Services Committee’s Subcommittee on National Security, Illicit Finance, and International Financial Institutions, led by Subcommittee Chairman Warren Davidson (OH-08), is holding a hearing to examine FinCEN’s operations and efforts to reform costly, burdensome, and ineffective anti-money laundering and beneficial ownership reporting requirements. Read Subcommittee Chair... Read More »
Today, the House Financial Services Committee is holding a Housing and Insurance Subcommittee hearing, led by Subcommittee Chairman Mike Flood (NE-01), to examine the Federal Home Loan Banks’ role in providing liquidity to financial institutions and supporting affordable housing and community development. Read Subcommittee Chairman Flood’s opening remarks as prepared for delivery: "Today, we will ... Read More »
Today, the U.S. House of Representatives passed H.R. 6955, the Main Street Capital Access (“Main Street”) Act, by a vote of 270-155-1. Sponsored by House Committee on Financial Services Chairman French Hill (AR-02) and Subcommittee on Financial Institutions Chairman Andy Barr (KY-06), this bill revitalizes local bank formation and ensures that community lenders can focus on serving families, small... Read More »
Today, the Housing and Insurance Subcommittee, led by Chairman Mike Flood (NE-01), held a hearing to explore the structure, operations, and mission of the Federal Home Loan Bank System. On Supporting Local Lending and Community Banks: Subcommittee Chairman Flood said, “… when I learned more about the Federal Home Loan Bank of Topeka's programs, I found them to be much more efficient in getting res... Read More »
Today, the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, led by Subcommittee Chairman Bryan Steil (WI-01), is holding a field hearing on how the CLARITY Act establishes a clear and functional regulatory framework for digital assets in the United States. Read Subcommittee Chairman Steil’s opening remarks as prepared for delivery: "In Ame... Read More »
Today, on the one-year anniversary of the House’s bipartisan passage of H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act, the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, led by Subcommittee Chairman Bryan Steil (WI-01), hosted a field hearing at Federal Hall National Memorial in New York City. The hearing examined the CLARITY Act’s role in promoting ... Read More »
Yesterday, the House Financial Services Committee, led by Chairman French Hill (AR-02), hosted Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought for a hearing on the agency’s Semi-Annual Report, the reforms underway at the Bureau, and legislative efforts to ensure the CFPB remains transparent, accountable, and focused on protecting consumers. On Restoring Accountability an... Read More »
Yesterday, the House of Representatives passed three bills from the House Committee on Financial Services. H.R. 3074 - the Common Cents Act, sponsored by House Republican Conference Chairwoman Lisa McClain (MI-09), passed the House by voice vote. H.R. 3074 ends the production of the penny and allows for production of a more cost-effective nickel, reducing unnecessary costs to taxpayers while also ... Read More »
Today, the House Financial Services Committee, led by Chairman French Hill (AR-02), is holding a Full Committee hearing featuring testimony from Consumer Financial Protection Bureau Acting Director Russ Vought on the CFPB’s Semi-Annual Report, the changes underway at the agency, and reforms needed to ensure it remains accountable, transparent, and focused on its consumer protection mission. Read C... Read More »
Today, the House Financial Services Committee, led by Chairman French Hill (AR-02), is holding a Full Committee hearing featuring testimony from Federal Reserve Chairman Kevin Warsh on the agency's Semi-Annual Monetary Policy Report. Read Chairman Hill's remarks as prepared for delivery: "I want to welcome our witness, the Honorable Kevin Warsh, to his first appearance before Congress as Chairman ... Read More »
Today, the House Committee on Financial Services, led by Chairman French Hill (AR-02), welcomed Federal Reserve Board Chairman Kevin Warsh for a hearing on his views on the future path of the economy, the Federal Reserve’s monetary policy functions, and efforts to achieve price stability and ensure the Federal Reserve remains focused on its core mission. On Restoring Price Stability and Economic C... Read More »
Today, the 21st Century ROAD to Housing Act, a landmark bipartisan, bicameral housing package championed by House Financial Services Committee Chairman French Hill (AR-02), became law. Chairman Hill said, “Homeownership should be within reach for more Americans, and this law moves us closer to that goal. This bill reduces unnecessary barriers to building, strengthens community banks, and ensures f... Read More »
