Financial Services Advances 10 Bills and a Resolution
Washington,
July 1, 2026
Tags:
Full Committee
The House Committee on Financial Services, led by Chairman French Hill (AR-02), successfully reported 10 bills to the full House of Representatives. The Committee also approved a resolution reauthorizing the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity. The bills reflect the Committee's long-standing efforts to promote economic growth, protect the integrity of our markets, strengthen confidence in our financial system, and reinforce strong regulatory frameworks. Resolution to Reauthorize the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, passed by voice vote. This resolution reauthorizes the bipartisan task force, chaired by Rep. Frank Lucas (OK-03), to continue examining monetary policy, Treasury market resilience, and policies that promote long-term economic prosperity.
H.R. 1483, the Protecting Investors’ Personally Identifiable Information Act, sponsored by Rep. Barry Loudermilk (GA-11), passed 27-21. This bill protects investors' personally identifiable information by limiting the unnecessary collection and disclosure of sensitive personal data to the consolidated audit trail.
H.R. 9329, the SEC Reform and Restructuring Act, sponsored by Subcommittee Chairman Wagner, passed 28-23. This bill modernizes the Securities and Exchange Commission by streamlining its organizational structure, improving its rulemaking process, and increasing accountability. H.R. 7187, the Clarity for Compensation Act, sponsored by Rep. Zach Nunn (IA-03) and Rep. Gregory Meeks (NY-05), passed 51-0. This bipartisan bill provides greater legal clarity regarding compensation arrangements by professional service entities in order to reduce regulatory uncertainty. H.R. 5775, the FCRA Liability Harmonization Act, sponsored by Rep. Loudermilk, passed 27-23. This bill reforms the civil liability provisions of the Fair Credit Reporting Act (FCRA) by establishing clearer standards for class action lawsuits while preserving consumers' ability to recover actual damages. H.R. 8141, the Fair Credit Reporting Reseller Accuracy Act, sponsored by Rep. Mike Lawler (NY-17) and Rep. Josh Gottheimer (NJ-05), passed by voice vote. This bipartisan bill improves the accuracy and fairness of the consumer reporting system by clarifying the responsibilities of credit report resellers under the FCRA and ensuring that legal liability is born by those with underlying control of consumer data.
H.R. 5402, the Credit Access and Inclusion Act of 2025, sponsored by Rep. Young Kim (CA-40), passed 28-23. This bill expands access to credit by allowing certain recurring payment data, such as rent and utility payments, to be reported to consumer reporting agencies.
H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act of 2026, sponsored by Rep. Kim, passed 51-0. This bill strengthens financial institution’s ability to stop fraudulent payments by adding necessary flexibility to fund availability schedules, explicitly permitting payment holds when fraud is suspected, and permitting holds on wire transfers.
H.R. 9330, the Earned Wage Access Consumer Protection Act, sponsored by Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil (WI-01), passed 29-22. This bill establishes a federal regulatory framework for earned wage access services while providing strong consumer protections. H.R. 1640, the HEIRS Act of 2025, sponsored by Rep. Nikema Williams (GA-05) and Rep. Byron Donalds (FL-19) passed 51-0. This bipartisan bill allows HUD to create a program for states and localities that adopt heirs property best practices laws to offer grants to owners of heirs property document property ownership rights and cover other legal costs.
### |