Press Releases

The House Committee on Financial Services, led by Chairman French Hill (AR-02), today held a full committee markup. The committee successfully reported 11 bills to the full House of Representatives that support our banking system and make our capital markets more efficient.

“Today, the Committee marked up a variety of bills aimed at strengthening our capital markets and reducing unnecessary regulatory burdens on American businesses. These bills are essential to creating a financial system that fosters economic growth, innovation, and stability while also keeping up with the evolving needs of U.S. consumers and businesses,” said Chairman Hill.

Legislation considered during the markup:

H.R. 1531, the PROTECT Taiwan Act, sponsored by Rep. Frank Lucas (OK-03) and Rep. Vicente Gonzalez (TX-34), passed 49-0. In the event of a CCP move on Taiwan, the bill requires the Treasury Department, Federal Reserve, and Securities and Exchange Commission to seek China’s exclusion from the G20, Bank for International Settlements, Financial Stability Board, Basel Committee on Banking Supervision, International Association of Insurance Supervisors, and International Organization of Securities Commissions.

• Watch Rep. Lucas’ remarks here.

H.R. 2478, the Financial Exploitation Prevention Act, sponsored by Rep. Ann Wagner (MO-02) and Rep. Josh Gottheimer (NJ-05), passed 50-0. The bill allows registered open-end investment companies and their transfer agents to voluntarily elect to implement safeguards that can delay the redemption of securities if they reasonably believe financial exploitation is occurring or has been attempted.

• Watch Rep. Wagner’s remarks here.

H.R. 3234, H.R. 3234, the Keeping Deposits Local Act, sponsored by Rep. Tom Emmer (MN-06) and Rep. Joyce Beatty (OH-03), passed 51-0. This bill would allow community banks who often have small branch networks to accept a greater amount of reciprocal deposits before becoming subject to stringent brokered deposit regulations, helping them make loans in their local communities.

• Watch Rep. Emmer’s remarks here.

H.R. 3484, the Business Owners Protection Act of 2025, sponsored by Rep. Andy Barr (KY-06) passed 26-24. This bill eliminates certain discretionary authorities granted to the SEC under the Dodd-Frank Act that have never been exercised.

• Watch Rep. Barr’s remarks here.

H.R. 3682, the Financial Stability Oversight Council Improvement Act of 2025, sponsored by Rep. Bill Foster (IL-11) and Rep. Bill Huizenga (MI-04), passed 47-4. This bill will restore transparency and legitimacy to FSOC by imposing rigorous procedural guardrails, including enhanced due process protections, and a stronger analytic framework before a firm can be designated as systemically important.

H.R. 5262, the Bank Competition Modernization Act, sponsored by Rep. Scott Fitzgerald (WI-05) passed 28-24. The bill aims to improve how the Department of Justice works with the federal banking agencies to evaluate proposed bank mergers.

• Watch Rep. Fitzgerald’s remarks here.

H.R. 5270, the Stress Testing Accountability and Transparency Act, sponsored by Rep. Huizenga passed 28-24. This bill requires the FRB to issue regulations to establish the models, assumptions, and scenarios used in annual stress tests which serve as the basis for covered banking organizations’ stress capital buffer (SCB) requirements. It also prohibits climate-related stress tests for nonbank financial companies and directs the Government Accountability Office to report every three years on the effectiveness of stress testing in assessing the safety and soundness of institutions subjected to stress tests and the stability of the U.S. financial system.

• Watch Rep. Huizenga’s remarks here.

H.R. 5276, the Community Bank LIFT Act, sponsored by Rep. Young Kim (CA-40) passed 33-19. This bill would lower the Community Bank Leverage Ratio’s (CBLR) statutory range to 6-8%, have the Federal banking regulators review ways to modify the CBLR in a way that would encourage more community banks to opt-into the framework, and then issue rules to implement these changes

• Watch Rep. Kim’s remarks here.

H.R. 5291, the Merchant Banking Modernization Act, sponsored by Rep. Roger Williams (TX-25) passed 35-17. This bill would amend the Bank Holding Company Act to extend the permitted holding period for merchant banking investments from the current 10 years to up to 15 years.

• Watch Rep. Williams’ remarks here.

H.R. 5317, the Community Bank Deposit Access Act of 2025, sponsored by Chairman Hill passed 48-2. This bill amends the Federal Deposit Insurance Act to create a limited exception for certain custodial deposits at eligible institutions. Under this measure, these deposits placed by trusted entities like banks, trust companies, or plan administrators would not be classified as brokered deposits if they do not exceed 20% of the institution’s total liabilities. Eligible institutions include those with less than $10 billion in assets, those that are well-rated and well-capitalized, or others that obtain a waiver. 

• Watch Chairman Hill’s remarks here.

• Learn more about Chairman Hill’s bill here.

H.R. 5344, the Kleptocracy Asset Recovery Rewards Program Act, sponsored by Rep. Stephen Lynch (MA-08) passed 50-0. This bill will reestablish a Treasury Department rewards program to aid in the identification of stolen assets that are linked to foreign government corruption.