Financial Services Advances 6 Bills and a Resolution
Washington,
January 23, 2026
The House Committee on Financial Services, led by Chairman French Hill (AR-02), successfully reported 6 bills and one resolution to the House of Representatives. “Cumulatively, these bills take steps toward reducing unnecessary regulatory burdens to allow businesses to focus on their core operations and protect the health and security of our nation’s financial system,” said Chairman Hill. “These bills address the real challenges facing our financial sector while promoting innovation and growth. H.R. 7128, the TRIA Program Reauthorization Act of 2026, offered by Housing and Insurance Subcommittee Chairman Mike Flood (NE-01), passed 51-2. The bill reauthorizes the Terrorism Risk Insurance Act (TRIA) to ensure the continued availability and affordability of terrorism risk coverage for businesses and insurers. The bill provides stability and certainty to the insurance market, helping businesses maintain critical coverage against catastrophic events while protecting the broader economy from disruptions caused by terrorism-related losses.
H.Res. 1007, Expressing the sense of the House of Representatives with respect to the use of artificial intelligence in the financial services and housing industries, offered by Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chairman Steil (WI-01), passed 54-0. The resolution acknowledges AI’s expanding role in the financial services and housing sectors. It underscores the importance of appropriate oversight, enforcement of existing laws, and robust consumer protections, while affirming that the Committee should promote a pro-innovation approach to the use of AI in these industries.
H.R. 7056, the Community Bank Regulatory Tailoring Act of 2026, sponsored by Financial Institutions Subcommittee Chairman Andy Barr (KY-06), passed 33-21. This bill indexes various asset-based thresholds for bank regulations to nominal GDP for community banks and small credit unions to reduce unnecessary regulatory burdens that can limit lending and economic growth in local communities.
H.R. 5877, the Combatting Money Laundering in Cyber Crime Act of 2026, sponsored by Rep. Scott Fitzgerald (WI-05), passed 54-0. The bill directs financial institutions and law enforcement agencies to improve coordination, information sharing, and investigative tools to better identify, track, and prevent illicit financial activity linked to digital assets.
H.R. 1799, the Financial Reporting Threshold Modernization Act, sponsored by Rep. Barry Loudermilk (GA-11), passed 30-24. The bill modernizes financial reporting thresholds by updating them to reflect inflation. It reduces outdated and excessive compliance burdens on financial institutions while maintaining essential reporting to combat illicit finance, ensuring that the Treasury Department and law enforcement continue to receive meaningful financial information.
H.R. 6967, the Public Company Advisory Committee Act of 2025, sponsored by Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity Chairman Frank Lucas (OK-03), passed 39-15. The bill establishes a Public Company Advisory Committee at the Securities and Exchange Commission to provide public companies with a formal forum to offer input on policies affecting them. The committee will help identify technical or implementation issues with regulations before they occur, preventing unintended consequences and promoting more effective and efficient regulatory frameworks.
H.R. 7085, a bill to amend the Securities Exchange Act of 1934 to repeal certain disclosure requirements related to conflict minerals, sponsored by Committee Vice Chairman Bill Huizenga (MI-04), passed 30-24. The bill repeals certain reporting requirements under the Securities Exchange Act of 1934. It reduces compliance costs for companies while maintaining investor protections and encouraging efficient corporate disclosure practices.
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