Press Releases

Today, the House Financial Services Committee, led by Chairman French Hill (AR-02), is holding a Full Committee hearing examining the supervisory and regulatory developments, rulemakings, and activities of the prudential regulators.

Read Chairman Hill's remarks as prepared for delivery:

"The Trump Administration is returning the prudential regulators to their core regulatory and supervisory mission of promoting safety and soundness in the financial system.

"Today’s hearing will provide an opportunity to discuss how their recent actions, priorities, and policies are aligned with their statutory mission entrusted to them by Congress.

"It will also highlight the work of this Committee to right-size prudential regulations for institutions of all sizes, focus the supervisory framework on material financial risks, and facilitate the formation of new institutions. 

"Prudential regulation should foster economic opportunity, support responsible lending, and encourage long-term growth while maintaining confidence in our banking system.

"A sound prudential framework must have transparent, appropriately tailored regulations that are clear, efficient, and proportionate to the size, complexity, and risk profile of an institution.

"A one‑size‑fits‑all approach, by contrast, disproportionately harms community banks, credit unions, and regional institutions.

"That’s why this Committee held numerous hearings throughout the 119th Congress on our mission to Make Community Banking Great Again, which has culminated in our Main Street Capital Access Act.

"Many of the reforms contained in this legislation directly track with the actions being taken by the agencies before us.

"We also will highlight the progress being made to reverse the damaging Biden-era regulations and guidance that increased compliance costs, constrained lending, and threatened access to credit for American families and small businesses without providing clear benefits to safety and soundness.

"Among them was the original Basel III Endgame proposal, which would have significantly raised costs for homebuyers, consumers, and financial institutions without meaningfully improving financial stability.

"The revised Basel III proposal and the corresponding changes to the standardized approach and G‑SIB surcharge will better align capital with risk, address concerns about gold‑plating, and increase lending capacity while maintaining a safe and sound banking system.

"I am also proud of the work this Committee has done to advance legislation to provide a functional regulatory framework for the digital asset ecosystem.

"The Trump Administration has taken important steps to turn the page on the Biden-era approach to digital assets.

"These steps include withdrawing burdensome supervisory “non‑objection” regimes, providing greater clarity for banks using blockchain technology, and implementing the GENIUS Act to establish a clear framework for payment stablecoins.

"The Administration is demonstrating a commitment to supporting innovation while preserving consumer protection.

"Clear, predictable rules allow financial institutions to manage compliance, reduce unnecessary costs, expand access to credit, and invest in innovation as our financial system evolves.

"Policymakers must foster an environment that supports innovation while ensuring confidence in the strength and stability of our financial system.

"I look forward to hearing from our witnesses today, and I yield back."

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