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… 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… 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… 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… 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… 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… 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… 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… Read more »
Digital assets have rapidly evolved and are quickly becoming cornerstones of the global economy. Today, approximately 65 million Americans own some form of cryptocurrency, including stablecoins. These assets change how consumers and institutions transact, invest and store value. The rise of decentralized finance platforms, blockchain technology and digital tokens has democratized the… Read more »
Today, House Financial Services Committee Chairman French Hill (AR-02), Chairman of the Subcommittee on Capital Markets Ann Wagner (MO-02), and all Republican members of the Subcommittee on Capital Markets, sent a letter to Acting Chairman of the U.S. Securities and Exchange Commission (SEC) Mark Uyeda commending the Commission for its recent decision to rescind Staff Legal Bulletin (SLB)… Read more »
