Press Releases

Today, the House Financial Services Committee, led by Chairman French Hill (AR-02), is holding a hearing titled "Oversight of Prudential Regulators." This hearing will examine supervisory and regulatory developments, rulemakings, and activities of the prudential regulators.

Read Chairman Hill's remarks as prepared for delivery.

"Good morning. I want to welcome our witnesses and thank them for joining us today.

"Today’s hearing is an opportunity for this Committee to discuss the recent work of our prudential regulators and to highlight the strong alignment between their current approach under the Trump Administration and our agenda to Make Community Banks – and depository institutions of all sizes – Great Again.

"Our shared objective is to ensure that regulatory policy supports the needs of the banks and credit unions that serve hardworking Americans across the country.

"The supervisory and regulatory developments, rulemakings, and activities of the prudential regulators that we will highlight in today’s hearing underscore this shared vision.

"Together, we can reduce duplicative or “untailored” burdens on financial institutions of all sizes to ensure they can continue to thrive in an increasingly competitive market.

"This hearing is about enhancing clear, tailored rules of the road, fostering competition, and ultimately serving the best interests of consumers and businesses.

"Committee Republicans have been working alongside the Trump Administration from day one to ensure community banks remain viable, competitive, and able to serve the needs of our local communities.

"To achieve our mutual goals, it is crucial prudential regulators remain focused on their core mission to safeguard the fundamental stability and safety and soundness of our financial institutions -- rather than on trendy distractions that prioritize progressive climate agendas and DEI initiatives.

"That’s why our Committee’s legislative and oversight agenda and the Trump Administration are collaborating in leading the charge to shift our regulatory approach and return prudential regulators to this core mission. We saw what happens with the failure of Silicon Valley Bank when regulators fail to keep their focus on obvious, in “plain sight,” material financial risks.

"This hearing will also emphasize the important reversal of costly, ill-concerned Biden-era regulations and guidance which would have driven  costs up for American homebuyers and small businesses, most notably the original Basel III Endgame proposal.

"I am proud of the work the Committee has done to advance legislation to provide clarity for the digital assets marketplace, streamline supervision, increase access to capital and deposit funding, ensure a fair appeals process, and establish a timely merger review process, among countless others.

"It is critical that we continue this momentum toward transparent regulatory certainty and broader market competition.

"Clear, consistent rules help reduce compliance costs for banks and credit unions.

"When these institutions can navigate regulations without ambiguity, they can allocate their resources more effectively, making loans cheaper and investing in customer service, technology, and innovation that benefits our economy.

"This Committee has held numerous hearings throughout the 119th Congress to learn about how the actions of regulators are affecting community banks and credit unions and their ability to serve customers efficiently. We have heard time after time about the positive developments occurring at your agencies as well as further ideas to right size the regulatory environment.  

"As in the past, this Congress must find modern ways to enact and effective clear guidelines and expectations that enable financial institutions to operate in an increasingly diverse and dynamic financial system that fosters growth and stability, and Committee Republicans are committed to fostering a financial environment that is stable and safe while fully conducive to market growth and innovation."