Today, the House Financial Services Committee is holding a Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee hearing, led by Subcommittee Chairman Bryan Steil (WI-01), to explore which digital asset activities implicate U.S. securities law, why current regulations may not apply, and how Congress can take legislative action to address these challenges. Read Subcommittee... Read More »
Today, the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, led by Chairman Bryan Steil (WI-01), held a hearing entitled, "American Innovation and the Future of Digital Assets Aligning the U.S. Securities Laws for the Digital Age." This hearing examined the significant legal uncertainty surrounding the application of securities laws to digital assets, which leaves... Read More »
Today, the House of Representatives passed two CRAs overturning Consumer Financial Protection Bureau (CFPB) rules finalized in the waning days of the Biden-Harris Administration. S.J. Res. 18 nullifies the CFPB’s disastrous rule setting government price caps on overdraft fees and S.J. Res. 28 would nullify the CFPB’s deeply flawed rule expanding the CFPB's authority into the digital payments ecosy... Read More »
Today, the House Financial Services Committee is holding an Oversight and Investigations Subcommittee hearing, led by Subcommittee Chairman Dan Meuser (PA-09), to examine the waste, fraud, and mismanagement within the Department of Housing and Urban Development (HUD). Read Subcommittee Chairman Meuser’s opening remarks as prepared for delivery: "Today’s hearing is entitled, 'Decades of Dysfunction... Read More »
Today, the House Financial Services Committee is holding a Monetary Policy, Treasury Market Resilience, and Economic Prosperity Task Force hearing, led by Task Force Chair Frank D. Lucas (OK-03), to explore the relationships between public and private actors in the Treasury Markets, and how post Dodd-Frank Act regulations have impacted the Treasury markets. Read Task Force Chair Lucas’ opening rem... Read More »
Today, the House Committee on Financial Services Subcommittee on Oversight and Investigations, led by Chairman Dan Meuser (PA-09), held a hearing entitled, "Decades of Dysfunction: Restoring Accountability at HUD." The hearing examined the persistent waste, fraud, and mismanagement within the Department of Housing and Urban Development (HUD). Members underscored the critical need for congressional... Read More »
Today, the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, led by Chairman Frank Lucas (OK-03), held a hearing entitled, "U.S. Treasury Debt in the Monetary System." This hearing explored the fundamentals of Treasury securities, the basic framework that governs markets for Treasury securities, and how the Federal Reserve uses those markets to conduct monetary po... Read More »
The Consumer Financial Protection Bureau (CFPB) has long been sold to the American public as a necessary watchdog against financial abuse. Its defenders argue that without it, consumers would be left at the mercy of powerful financial institutions. But they are ignoring the fact that consumer protection laws existed long before the CFPB was established. The idea that the CFPB is the last and best ... Read More »
By Chairman French Hill and Chairman G.T. Thompson In 2008, an anonymous person or group of people known only as “Satoshi Nakamoto” released a now-seminal document, the Bitcoin White paper, introducing a peer-to-peer system for value of exchange without intermediaries. With this revolutionary concept, the idea of a “digital asset” was born. Soon after, developers and entrepreneurs expanded on this... Read More »
Today, House Committee on Financial Services Chairman French Hill (AR-02) and House Committee on Agriculture Chairman G.T. Thompson (PA-15) published a new CoinDesk op-ed outlining their vision for market structure legislation. The lawmakers outlined six core principles that they believe must be included in digital asset legislation: Promote innovation Provide clarity for the classification of ass... Read More »
Today, the House Financial Services Committee, led by Chairman French Hill (AR-02), is holding a legislative markup for various bills, including the STABLE Act. Watch Chairman Hill’s opening remarks here. Read Chairman Hill’s opening remarks as prepared for delivery: "Good morning. Since we kicked off the 119th Congress, our members have been hard at work, crafting legislative solutions to difficu... Read More »
Yesterday, the Subcommittee on National Security, Illicit Finance, and International Financial Institutions, led by Chairman Warren Davidson (OH-08), held a hearing entitled, "Following the Money: Tools and Techniques to Combat Fraud." The hearing explored the growing threat of financial fraud in the U.S., analyzed tools and practices used to "follow the money" when it comes to countering investme... Read More »
The House Committee on Financial Services, led by Chairman French Hill (AR-02), today held a full committee markup. The Committee successfully reported five bills to the full U.S. House of Representatives for consideration. “Since we kicked off the 119th Congress, our members have been hard at work, crafting legislative solutions to difficult problems. ...Three of the bills are part of our ongoing... Read More »
Today, the House Financial Services Committee is holding a National Security Subcommittee hearing, led by Subcommittee Chair Warren Davidson (OH-08), to explore the growing threat of investment fraud in the United States, as well as analyze tools and practices used to "follow the money" when it comes to investment scams. Read Subcommittee Chair Davidson’s opening remarks as prepared for delivery: ... Read More »
Chairman French Hill (AR-02) and House Committee on Financial Services members sent letters to agencies requesting the rescission, modification, or re-proposal of specific Biden-Harris Administration actions. You can see the areas of inquiry and specific letters below: Financial Institutions Chairman Hill and Subcommittee Chairman Barr, along with the Members on the Subcommittee on Financial Insti... Read More »
