Financial Services Committee Holds First Full Committee Markup
Washington,
March 5, 2025 -
The House Financial Services Committee, led by Chairman French Hill (AR-02), today held the first full committee markup of the 119th Congress. The Committee favorably reported 11 bills to the full U.S. House of Representatives for consideration.
“To show our commitment to defending the U.S. and its allies against China, this markup included several bipartisan measures championed by members of this Committee. These bills underscore the scope of the Committee’s jurisdiction and the unique ways our members contribute to our national security,” said Chairman Hill. “We also considered a CRA to nullify the CFPB’s harmful overdraft rule. By forcing banks to cut their fees, or to treat overdrafts as “loans”, banks will limit the service, especially to low-income and low-credit customers. That would drive customers in a pinch towards alternative products - much more costly non-bank products.”
Legislation considered during the markup:
- H.R. 910, the Taiwan Non-Discrimination Act of 2025, sponsored by Rep. Young Kim.
o H.R. 910 (as amended) passed by a recorded vote of 48 to 0.
Watch Rep. Young Kim’s remarks here.
- H.R. 1713, the Agricultural Risk Review Act, sponsored by Rep. Frank Lucas.
o H.R. 1713 (as amended) passed by a recorded of 48 to 0.
Watch Rep. Lucas’ remarks here.
- H.R. 1716, the Taiwan Conflict Deterrence Act of 2025, sponsored by Rep. Lisa McClain.
o H.R. 1716 (as amended) passed by a recorded vote of 48 to 0.
- H.R. 1602, the Financial Privacy Act of 2025, sponsored by Rep. Warren Davidson.
o H.R. 1602 (as amended) passed by a recorded vote of 48 to 0.
Watch Rep. Davidson’s remarks here.
- H.R. 747, the Stop Chinese Fentanyl Act of 2025, sponsored by Rep. Andy Barr.
o H.R. 747 (as amended) passed by a recorded vote of 49 to 0.
Watch Rep. Barr’s remarks here.
- H.J. Res. 59, Disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to ‘‘Overdraft Lending: Very Large Financial Institutions," sponsored by Chairman French Hill.
o H.J. Res. 59 passed by a recorded vote of 30 to 19.
Watch Chairman Hill’s remarks here.
- H.R. 1549, the China Financial Threat Mitigation Act of 2025, sponsored by Rep. Roger Williams.
o H.R. 1549 (as amended) passed by a recorded vote of 49 to 0.
Watch Rep. Williams’ remarks here.
- H.R. 1474, the International Nuclear Energy Financing Act of 2025, sponsored by Chairman French Hill.
o H.R. 1474 (as amended) passed by a recorded vote of 39 to 10.
Watch Chairman Hill’s remarks here.
- H.R. 1577, the Stop Fentanyl Money Laundering Act of 2025, sponsored by Rep. Andy Ogles.
o H.R. 1577 (as amended) passed by a recorded vote of 49 to 0.
- H.R. 1450, the OFAC Licensure for Investigators Act, sponsored by Rep. Joyce Beatty.
o H.R. 1450 (as amended) passed by a recorded vote of 49 to 0.
- H.R. 1764, the Aligning SEC Regulations for the World Bank's International Development Association Act, sponsored by Rep. Maxine Waters.
o H.R. 1764 (as amended) passed by a recorded vote of 49 to 0.
