Chairman Hill Expresses Deep Dismay for Midnight Rulemakings by Biden-Harris Administration on House Floor
Washington,
February 12, 2025 -
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 Administration.
“Last December, Senate Banking Chairman Tim Scott and I were clear when we sent letters to outgoing Biden-Harris regulators and department heads urging them to 'put their pens down' and halt all rulemakings.
“What did we see in response?
“An avalanche of relentless rulemakings. One, after the other, after the other.
“The worst offender was former CFPB Director Rohit Chopra, who became the poster child of the midnight rulemaking renegade.
“Chopra never put his pen down.
“Under his leadership, the CFPB went full steam ahead with their reckless rulemakings that:
- Cap fees on overdraft services, which is just another form of government price controls that harm consumers who deserve access to financial options and greater choice.
- Hide medical debt owed from credit reports, which will drive up costs to any American seeking medical care and have a devastating impact on consumers’ access to healthcare, particularly in rural areas.
“Mark my words: we are going to fight to overturn these erroneous actions.
“The House passed my colleague, Rep. Andy Biggs of Arizona’s, bill today that ensures Congress can exercise appropriate oversight of executive rulemakings.
“It would allow multiple agency rules to be considered en bloc in a single Congressional Review Act (CRA) resolution if the rulings took place at the end of a presidential term.
“Mr. Biggs’ bill is an important step in fighting back to rectify the misguided rulemakings at the end of the Biden-Harris era, and I thank him for leading this effort.
“As Chairman of the House Financial Services Committee, I am committed to continuing my work with Chairman Scott and the Senate Banking Committee, as well as the Trump Administration, to right-size the regulatory burden.
“Together, we will facilitate faster and stronger economic growth in the years to come."
