Cmte Financial Services (R) RSS Articles

WTAS: Financial Services Highlights Support for Committee’s Bipartisan Main Street Capital Access Act

Fri, 24 Jul 2026 04:00:00 GMT

There is strong and widespread support for the Committee’s bipartisan Main Street Capital Access Act, which passed the House on Tuesday by a bipartisan vote of 270-155-1. To date, over 100 organizations have expressed support for the bill.

For a one-pager on the bill, click here.

For a section-by-section on the bill, click here.

For more information, click here.

Here is what they are saying:

“The Main Street Capital Access Act is an important step toward modernizing the bank regulatory and supervisory framework to ensure financial institutions can better meet the needs of their customers, clients and communities while driving economic growth. We applaud Chairman French Hill and Subcommittee Chairman Andy Barr for their leadership in promoting greater efficiency, encouraging new bank formation and reducing community bank regulatory burdens and urge the House to pass this critical legislation,” said Rob Nichols, President and CEO, American Bankers Association (ABA).

Read ABA’s letter of support HERE.

“To maintain a strong and diverse banking system across Arkansas, our regulatory framework must fit the actual risk profile and size of local institutions. The Main Street Capital Access Act modernizes supervisory standards and improves access to capital so community banks can stay competitive and resilient. By supporting new bank formation and cutting through unnecessary red tape, Congressman Hill’s legislation protects local credit access for families, farmers, and entrepreneurs across every corner of our state for generations to come,” said Lorrie P. Trogden, President & Chief Executive Officer, Arkansas Bankers Association.

Read the Arkansas Bankers Association letter of support HERE.

“ICBA and the nation’s community bankers commend House passage of the Main Street Capital Access Act, which includes policies that will transform the regulatory environment to support community banking and economic growth in rural, suburban, and urban markets. We thank House Financial Services Committee Chairman French Hill and Financial Institutions Subcommittee Chairman Andy Barr for their leadership on this critical legislation and encourage the Senate to take up and pass this measure to amplify the value that community banks bring to local economies nationwide,” said Rebeca Romero Rainey, President and CEO, Independent Community Bankers of America (ICBA).

Read ICBA’s letter of support HERE.

“The Kentucky Bankers Association appreciates the efforts of Chairman Hill and Chairman Barr in advancing the Main Street Capital Access Act. The Act will allow more flexibility with keeping deposits local, tailoring regulation appropriate with a bank’s size and risk profile, and halting uncertain methods and practices in supervision, all of which significantly benefit Kentucky’s community banks and the communities they serve,” said Ballard W. Cassady, Jr., President & Chief Executive Officer, Kentucky Bankers Association.

Read the Kentucky Bankers Association letter of support HERE.

The following organizations have also expressed support for the bill:

Alabama Bankers Association, Alaska Bankers Association, America’s Credit Unions, American Fintech Council, Americans for Tax Reform, Arizona Bankers Association, Bank Policy Institute, BankPlus, California Bankers Association, Colorado Bankers Association, Commerce Street Holdings, Community Bankers of Illinois, Community Development Bankers Association, Community Development Financial Institutions Coalition, Community Financial Services Bank, Connecticut Bankers Association, Defense Credit Union Council, Delaware Bankers Association, Eagle Bank and Trust Company, Florida Bankers Association, Georgia Bankers Association, Hancock Whitney Bank, Hawaii Bankers Association, Idaho Bankers Association, Illinois Bankers Association, Independent Bankers Association of Texas, Independent Community Bankers Association, Indiana Bankers Association, International Bancshares Corporation, Iowa Bankers Association, Kansas Bankers Association, Louisiana Bankers Association, Maine Bankers Association, Maryland Bankers Association, Massachusetts Bankers Association, Michigan Bankers Association, Minnesota Bankers Association, Mississippi Bankers Association, Missouri Bankers Association, Montana Bankers Association, National Association of Home Builders, National Bankers Association, Nebraska Bankers Association, Nevada Bankers Association, New Hampshire Bankers Association, New Jersey Bankers Association, New Mexico Bankers Association, New York Bankers Association, North Carolina Bankers Association, North Dakota Bankers Association, Ohio Bankers League, Oklahoma Bankers Association, Opportunity Finance Network, Oregon Bankers Association, Pennsylvania Bankers Association, Renasant Bank, Rhode Island Bankers Association, South Carolina Bankers Association, South Dakota Bankers Association, StoneCastle Partners, Tennessee Bankers Association, Texas Bankers Association, Trust Bank, Trustmark Bank, U.S. Chamber of Commerce, Utah Bankers Association, Vermont Bankers Association, Virginia Bankers Association, Washington Bankers Association, West Virginia Bankers Association, Wisconsin Bankers Association, Wyoming Bankers Association, and Zions Bancorporation, among others

House Financial Services Committee Requests Feedback on CFPB Reform Discussion Draft

Fri, 24 Jul 2026 04:00:00 GMT

Following the recent Full Committee hearing focused on the future of the Consumer Financial Protection Bureau (CFPB), the House Committee on Financial Services is requesting feedback from the public on a discussion draft of legislation to reform the structure and powers of the CFPB.

Interested members of the public may send their comments and answers to the questions below by August 21, 2026, to fsc119@mail.house.gov.

Title I – Reforming Bureau Governance

Title I reforms the CFPB’s structure and governance. The title brings the CFPB under the congressional appropriations process, reforms the use of civil penalty funds, strengthens cost-benefit analysis and small business impact assessments for rulemakings, requires periodic retrospective reviews of major regulations, and establishes a dedicated CFPB Inspector General.

What additional structural reforms could reduce regulatory uncertainty resulting from changes in administrations and promote a more consistent, predictable, and durable framework for consumer financial regulation?
How could the CFPB improve the quality and transparency of its rulemaking process while maintaining an efficient regulatory framework?
Are there additional reforms to improve retrospective reviews of CFPB regulations to ensure outdated rules are removed?

Title II – Restoring Clarity and Procedural Fairness

Title II provides greater legal certainty by clarifying key statutory authorities, particularly the CFPB’s authority to regulate unfair, deceptive, or abusive acts or practices (UDAAP). Title II also adds procedural safeguards for enforcement actions, clarifies statues of limitations, and addresses jurisdictional boundaries involving attorneys and state-regulated insurance companies.

Are there additional statutory definitions that should be clarified to improve regulatory certainty?
What procedural safeguards best promote fairness and predictability in CFPB supervision and enforcement?
Are there additional areas where Congress should clarify the CFPB’s jurisdiction?

Title III – Promoting Innovation in Consumer Financial Markets

Title III supports innovation and consumer access to financial products and services. The Title provides clarity for certain small-dollar loan products offered by depository institutions and requires agencies to clearly distinguish non-binding guidance from legally enforceable requirements.

What regulatory barriers most limit innovation in consumer financial products and services?
Are there additional changes to regulatory frameworks that encourage more small dollar loan offerings and promote competition and consumer choice?
What further requirements help to distinguish between guidance and binding regulatory requirements?

Title IV – Promoting Effective, Predictable Supervision

Title IV modifies the CFPB’s supervisory framework by adjusting supervisory thresholds for banks and credit unions, allowing certain institutions to elect prudential regulator supervision and examination for consumer compliance, strengthening coordination among financial regulators, and tightening the CFPB’s authority to supervise nonbanks.

How can Congress further improve coordination among the CFPB, prudential regulators, and state regulators?
Are the proposed supervisory thresholds and the supervisory election framework appropriately calibrated?
Are there additional reforms that could make CFPB supervision more risk-based, efficient, and predictable?
How should Congress approach the CFPB’s supervisory and examination authorities to balance effective consumer protection with minimizing duplicative regulatory oversight?

Title V – Preventing Regulation by Enforcement?

Title V reduces reliance on the enforcement process as a means of establishing regulatory policy. The title reforms civil money penalties, market monitoring authorities, indexes regulator thresholds, and improves the CFPB’s complaint procedures.

Are there additional reforms that reduce reliance on enforcement actions to establish regulatory expectations?
How should Congress encourage voluntary compliance and self-reporting while maintaining appropriate accountability?
Are there additional reforms that would improve the CFPB’s complaint process for both consumers and financial firms?
How can Congress best protect sensitive consumer data that the CFPB possesses?

Chairman Hill, Oversight Chairman Meuser Issue Staff Report on Financial Fraud and Scams

Wed, 22 Jul 2026 04:00:00 GMT

Today, House Committee on Financial Services Chairman French Hill (AR-02) and Oversight & Investigations Subcommittee Chairman Dan Meuser (PA-09) released a staff report titled “Fighting Back: A Policy Framework for Combating the Rise of Financial Fraud & Scams.”

Over the past year, Committee Republicans have conducted an extensive investigation into the growing threat of financial fraud and scams targeting American consumers. The report outlines the scope of the problem, examines emerging fraud trends, and provides recommendations to strengthen consumer protections, improve coordination among law enforcement and regulators, and equip financial institutions with better tools to detect and prevent fraud.

Click here to view the report.

“Financial fraud is one of the fastest-growing threats facing Americans, costing consumers and financial institutions billions of dollars each year,” said Chairman Hill. “As fraudsters become more sophisticated, we must ensure law enforcement, regulators, and financial institutions have the tools they need to stay ahead of these evolving threats. I thank Subcommittee Chairman Meuser for his leadership on this issue and his work to develop a framework that strengthens fraud prevention, improves coordination among law enforcement, regulators, and the private sector, and better protects Americans’ hard-earned money.”

“Financial fraud and scams affect everyone. From veterans and small businesses to seniors and young people, everyone is vulnerable,” said Subcommittee Chair Meuser. “As Chair of the Oversight and Investigations Subcommittee, I’ve made it a top priority to address the threat of financial fraud and scams and provide the public the tools they need to secure their finances. However, as schemes become more elaborate and are increasingly perpetrated by transnational criminal organizations, our committee and other stakeholders must remain vigilant and address threats as they evolve. Over the past several months, I have convened roundtables with stakeholders, including banks, social media firms, telecom companies, the DOJ, FBI, Attorneys General, the Fed, State Department, FTC, and FCC to identify problems and determine solutions. This report highlights the need for an all-of-ecosystem approach to include a coordinated government response. I want to thank Chairman Hill for letting the Oversight & Investigations Subcommittee spearhead this Committee-wide initiative and look forward to advocating for implementation of the report’s recommendations.”

###

National Security, Illicit Finance, and International Financial Institutions Subcommittee Reviews Financial Crimes Enforcement Network Operations and Anti-Money Laundering Reforms

Wed, 22 Jul 2026 04:00:00 GMT

Yesterday, the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions, led by Chairman Warren Davidson (OH-08), held a hearing to examine efforts to strengthen the national anti-money laundering framework, improve FinCEN’s effectiveness, and combat illicit finance while reducing unnecessary regulatory burdens.

On FinCEN’s Fraud Prevention and Enforcement Efforts:

Full Committee Chairman French Hill (AR-02) said, “"FinCEN sits at the center of our efforts to combat money laundering, terrorist financing, fraud, scams, and other illicit financial activity that undermines our financial system.”

Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity Chairman Frank Lucas (OK-03) questioned Financial Crimes Enforcement Network Director Andrea Gacki on FinCEN’s repatriation efforts, to which she replied, “Since I last testified before this [Committee], FinCEN has interdicted $152 million and recovered $83.5 million for 381 U.S. victims. Since the program began in 2015, we have interdicted more than $1.8 billion and recovered more than $1 billion for 6,000 or more U.S. victims.”

Director Gacki said, “In support of the White House Task Force to Eliminate Fraud, and under the leadership of Secretary Bessent, FinCEN has taken decisive action to identify typologies associated with fraud schemes, including those being perpetrated by organized crime groups and transnational criminal organizations against government healthcare and other benefit programs. We have alerted financial institutions, the public, and law enforcement to these schemes; provided expert analysis of potential fraudulent activity for law enforcement; trained government stakeholders on how to use BSA data in their investigations; and issued guidance making it clear how financial institutions can share information on fraud with each other in real-time.”

On Modernizing Anti-Money Laundering Reporting Requirements:

Subcommittee Chairman Davidson said, "Every year, financial institutions file nearly 5 million suspicious activity reports, or SARs, and over 21 million currency transaction reports, CTRs, with FinCEN. These reporting thresholds have never been adjusted for inflation. Worse, GAO reports that only 5.4 percent of CTRs are even looked at by law enforcement, while BSA enforcement drives financial institutions to file copious amounts of defensive SARs that serve no meaningful law-enforcement purpose. What does all this reporting achieve? Only 1 percent of laundered proceeds are ever intercepted. And it comes with real costs – the BSA compliance reportedly costs $52 billion each year.”

Subcommittee on Financial Institutions Chairman Andy Barr (KY-06) said, “Despite FinCEN’s recognition that CTR and SARs thresholds are outdated and have produced millions of useless reports, FinCEN has consistently failed to update the thresholds.”

On Beneficial Ownership Reporting and Privacy:

Small Business Committee Chairman Roger Williams (TX-25) said, “The Biden administration's BOI reporting regulations required millions of small business owners to submit personal information to a federal database. And since taking office, the Trump administration has revised this disastrous rule, and American businesses are no longer required to submit this data. And FinCEN still holds the data collected under Biden's regulations. I, like many business owners, I'm a business owner in Texas, have concerns that large federal databases of private information present a privacy risk. If that database were ever breached or misused, the effects would be devastating for businesses across the country.”

###

Chairman Hill and Subcommittee Chairman Barr Encourage Federal Reserve to Continue Streamlining Bank Merger Reviews

Wed, 22 Jul 2026 04:00:00 GMT

House Committee on Financial Services Chairman French Hill (AR-02), Subcommittee on Financial Institutions Chairman Andy Barr (KY-06), and all Subcommittee members sent a letter to Federal Reserve Vice Chair for Supervision Michelle Bowman, encouraging the Federal Reserve to continue improving the timeliness and efficiency of its review of bank merger and acquisition (M&A) applications.

In the letter, the Members emphasize that timely review of banking M&A applications promotes a stronger banking system, expands access to financial services, and provides greater certainty for banks, their employees, and customers. To that end, they encourage the Federal Reserve to implement the Office of Inspector General's recommendations, review long-pending applications, and expand its use of delegated authority to further streamline the review process.

Read the full letter here.

###

Davidson: FinCEN’s Burdensome Reporting Regime Produces More Noise Than Results

Tue, 21 Jul 2026 04:00:00 GMT

Today, the House Financial Services Committee’s Subcommittee on National Security, Illicit Finance, and International Financial Institutions, led by Subcommittee Chairman Warren Davidson (OH-08), is holding a hearing to examine FinCEN’s operations and efforts to reform costly, burdensome, and ineffective anti-money laundering and beneficial ownership reporting requirements.

Read Subcommittee Chairman Davidson's opening remarks as prepared for delivery:

" Our witness today is FinCEN Director Andrea Gacki. Director, welcome, and thank you for making time among all your travels to be with us today.

"This is the fourth hearing with the director of FinCEN, as required by Section 5336(c)(11) of the Corporate Transparency Act.

"Today provides a public forum to examine FinCEN's operations, the troubled status of the Beneficial Ownership Information reporting regime, the Anti Money Laundering Act of 2020, and the history and impact of the Bank Secrecy Act.

"The Bank Secrecy Act was enacted in 1970 to address organized crime's infiltration of our financial system. In the half-century since, it has grown into a bloated surveillance apparatus demanding endless reports without delivering proportional results.

"Every year, financial institutions file nearly 5 million suspicious activity reports, or SARs, and over 21 million currency transaction reports, CTRs, with FinCEN. These reporting thresholds have never been adjusted for inflation.

"Worse GAO reports that only 5.4 percent of CTRs are even looked at by law enforcement while BSA enforcement drives financial institutions to file copious amounts of defensive SARs that serve no meaningful law-enforcement purpose.

"What does all this reporting achieve? Only 1 percent of laundered proceeds are ever intercepted.

"And it comes with real costs – the BSA compliance reportedly costs $52 billion each year.

"That is why I was pleased to see FinCEN release its AML Program Notice of Proposed Rulemaking in April.

"While it is disappointing that the NPRM does not address CTR or SAR thresholds, and we hope you do in the final rule, this effort is a welcome attempt to shift away from check-the-box defensive compliance to recenter AML on true risk.

"Now I would like to turn to the Corporate Transparency Act. Under the Biden Administration, implementation followed the same pattern of growing the haystack of reports rather than finding the money-laundering needle.

"FinCEN issued overbroad rules that treated every mom-and-pop shop around the country as potential money launderers, forcing disclosure of personally identifiable information into a federal database that isn’t safeguarded against hacks or misuse. 30 million small businesses were required to file.

"To get a sense of how absurd this is, consider an HOA with a volunteer board and presidency that changes every few months.

"The Biden Treasury would have compelled that HOA to file personally identifiable information on all these officers, and update it every time it changed, in the off chance one of them was engaged in money laundering.

"Replicate that over the entire country and you get the sense that Big Brother is watching you.

"I am thankful that the Trump Administration has rolled this all back. And I’m grateful that my colleagues on this Committee voted to advance my Repealing Big Brother Overreach Act to codify the Administration’s rule.

"As we work on the legislation, we look forward to FinCEN finalizing the rule.

"But the BSA haystack doesn’t stop at beneficial ownership. For instance, FinCEN’s Residential Real Estate Rule would have added even more reports to its overflowing database, imposing a nationwide burden on title agents.

"It shouldn’t be hard for everyone here to agree that all these reporting requirements produce a lot of noise while burying the signal. The result is a costly and ultimately ineffective framework.

"I’m glad to see the Trump Administration taking some steps toward reform, and I hope you will ensure that they ultimately produce better outcomes for law enforcement while simultaneously reducing costs for financial institutions and the businesses and individuals who use their services."

Flood: Federal Home Loan Banks Strengthen Communities Through Liquidity and Housing Support

Tue, 21 Jul 2026 04:00:00 GMT

Today, the House Financial Services Committee is holding a Housing and Insurance Subcommittee hearing, led by Subcommittee Chairman Mike Flood (NE-01), to examine the Federal Home Loan Banks’ role in providing liquidity to financial institutions and supporting affordable housing and community development.

Read Subcommittee Chairman Flood’s opening remarks as prepared for delivery:

"Today, we will examine the dual roles of the Federal Home Loan Banks, both in providing liquidity to member institutions and their obligation to housing affordability.

"The Federal Home Loan Bank Act of 1932 created the Federal Home Loan Bank system. At the time, these institutions were created to address liquidity challenges experienced by mortgage lenders during the Great Depression.

"The eleven Federal Home Loan Banks are federally chartered cooperative financial institutions. Each Federal Home Loan Bank is privately owned and capitalized by its members, but the Federal Home Loan Bank System collectively constitutes a government-sponsored-enterprise.

"The Federal Home Loan Banks were capitalized by Treasury when they began, but they repaid that investment in 1951 and have not received direct federal financial assistance since then.

"However, the Federal Home Loan Bank System does enjoy some privileges due to its federal status. The system enjoys an implicit federal guarantee, which makes it easier for the banks to find buyers of their debt. Additionally, they are exempt from federal, state, and local taxes.

"Let’s talk about how the Federal Home Loan Banks actually provide liquidity to the market in practice:

"If a member institution requires liquidity, the Federal Home Loan Banks can provide advances, or short-term cash loans, to that member. Those loans are secured by collateral from the member institution.

"To fund these advances, the Federal Home Loan Bank system issues debt, and their debt is issued jointly—meaning that all eleven banks are liable to cover the debt together.

"That structure helps provide confidence to investors that the Federal Home Loan Banks’ debt is reliable and low-risk, driving demand for their debt.

"For member institutions, these advances can help bridge gaps with liquidity, and they can also help finance loans in the community, like mortgage loans. These advances serve as an additional funding source that provides stability in particular to community banks.

"Their mission has changed since their charter in the 1930s—most notably, they now have a requirement to provide affordable housing grants in their respective districts.

"Since 1995, the Federal Home Loan Banks are required annually to contribute 10% of their profits to affordable housing projects through what’s called the “Affordable Housing Program.” Additionally, many of the Federal Home Loan Banks contribute an additional 5% of their profits to affordable housing activities on a voluntary basis.

"These AHP grants are a large source of affordable housing development dollars. Last year, the Federal Home Loan Bank System committed more than $1.1 billion to support affordable housing and community development initiatives.

"To sum things up, the Federal Home Loan Banks serve important and related dual roles.

"They provide short-term liquidity to member institutions that can be used to provide more loans at the local level, and they provide direct assistance through grants in the Affordable Housing Program to communities across the country.

"I have seen first-hand in my district the important role of the Federal Home Loan Banks. I have found the Federal Home Loan Bank of Topeka’s housing programs to be more efficient and effective in getting capital out to communities than many other federal grant programs.

"In fact, I feel so strongly about the value of the Federal Home Loan Banks’ community development capabilities—that I have set up meetings between the Federal Home Loan Bank of Topeka and several communities in my district.

"Those meetings have helped facilitate more investment in my part of the state, and they have helped inform my view that the Federal Home Loan Banks are integral to communities across the country.

"Both of their roles, providing liquidity to member institutions and directly supporting housing, are important parts of building stronger communities.

"My goal with this hearing is to better understand how the Federal Home Loan Banks operate, and better understand what, if any, changes to their charter would improve their operations and strengthen their impact.

"I yield back."

Financial Services Committee’s Main Street Capital Access Act Passes House

Tue, 21 Jul 2026 04:00:00 GMT

Today, the U.S. House of Representatives passed H.R. 6955, the Main Street Capital Access (“Main Street”) Act, by a vote of 270-155-1. Sponsored by House Committee on Financial Services Chairman French Hill (AR-02) and Subcommittee on Financial Institutions Chairman Andy Barr (KY-06), this bill revitalizes local bank formation and ensures that community lenders can focus on serving families, small businesses, and local economies, making life more affordable for Americans and empowering Main Street.

Chairman Hill said, "As a former community banker, I've seen firsthand how community banks drive Main Street's growth. For decades, Washington has forced these institutions to operate under rules built for the largest, most systemically important banks, stifling local lending and accelerating industry consolidation. This bill fixes that. It spurs the formation of new banks, restores common-sense tailoring to bank regulation, and removes barriers that have limited lending in communities across the country. Expanding access to capital means entrepreneurs can invest, businesses can grow, and families can build wealth. I want to thank Subcommittee Chairman Andy Barr for his partnership on this bill, and I look forward to the Senate taking up this important legislation.”

Watch Chairman Hill's floor remarks here.

Financial Institutions Subcommittee Chairman Andy Barr (KY-06) said, “Community banks are the backbone of Kentucky’s economy. They help our small businesses grow, support our farmers, and give hardworking families a chance to achieve the American Dream. House Republicans are keeping our promise to make that dream more attainable by advancing a regulatory framework that expands access to capital, promotes economic growth, and strengthens Main Street. I’m grateful to Chairman French Hill for his leadership, and I’m proud the House is passing this package to support community banks and the Americans they serve.”

Watch Subcommittee Chairman Barr’s floor remarks here.

Speaker Mike Johnson (LA-04) stated, “America cannot succeed if Main Street doesn’t, and for too long, unnecessary barriers have made it harder for small businesses to receive the support they need to thrive. The Main Street Capital Access Act offers commonsense solutions by helping local lenders better serve local businesses and the communities that rely on them. I commend Chairman Hill and Rep. Barr for their leadership on this issue and look forward to this important legislation supporting communities across the nation..”

Majority Leader Scalise (LA-01) added, “When community banks thrive, American workers on Main Street thrive. House Republicans are modernizing outdated regulations that have placed costly and unnecessary burdens on community banks and credit unions. The Main Street Capital Access Act will make it easier for local lenders to serve families and small businesses, and strengthen the communities they serve. I thank Chairman French Hill, Andy Barr, and the entire House Financial Services Committee for advancing this commonsense legislation.”

Majority Whip Tom Emmer (MN-06) said, “It’s time to bring commonsense back to banking, and the Main Street Capital Access Act does just that. This legislation will right-size federal bank regulations that currently treat local and mid-sized banks the same as the largest banks in the country. By cutting unnecessary red tape and expanding access to funding, we are going to keep community banks strong. We’re also pleased to see the Keeping Deposits Local Act included in this final bill. I want to thank Chairman French Hill and Congressman Andy Barr for their work on this legislation and helping keep community banks competitive.”

House Republican Conference Chairwoman Lisa McClain (MI-09) said, “The Main Street Capital Access Act cuts unnecessary red tape, promotes competition, and ensures smaller lenders can spend more time serving their customers instead of satisfying bureaucrats. That's exactly the kind of commonsense reform Republicans are fighting for to strengthen Main Street and keep the American Dream within reach.”

Additional Committee Members took to the Floor to express their support:

Watch Committee Vice Chairman Bill Huizenga's (MI-04) remarks here.
Watch Subcommittee on Oversight and Investigations Chairman Dan Meuser's (PA-09) remarks here.
Watch Rep. Barry Loudermilk's (GA-11) remarks here.

Click here for bill text.

Click here for a section-by-section.

Click here for a one-pager.

Further Background:

On March 5, 2026, the Committee advanced the Main Street Capital Access Act by a vote of 26-16.
On January 8, 2026, the Committee hosted a fireside chat for the introduction of the Main Street Capital Access Act.
On January 7, 2026, Chairman Hill and Subcommittee Chairman Barr unveiled the Main Street Capital Access Act with every Committee Republican as an original cosponsor. The Committee also hosted a press conference on the bill.
The Committee held several hearings to develop the Main Street Capital Access Act:
On December 11, 2025, the Subcommittee on Financial Institutions held a hearing entitled “Right-Sizing the U.S. Bank Capital Framework: A Return to Tailoring, Economic Growth, and Competitiveness.”
On September 5, 2025, the Subcommittee on Financial Institutions held a hearing entitled “Promoting the Health of the Banking Sector: Reforming Resolution and Broadening Funding Access for Long-Term Resilience.”
On July 15, 2025, the Full Committee held a hearing entitled “Dodd-Frank Turns 15: Lessons Learned and the Road Ahead.”
On May 14, 2025, the Subcommittee on Financial Institutions held a hearing entitled “Enhancing Competition: Shaping the Future of Bank Mergers and De Novo Formation.”
On April 29, 2025, the Subcommittee on Financial Institutions held a hearing entitled “Regulatory Overreach: The Price Tag on American Prosperity.”
On February 5, 2025, the Subcommittee on Financial Institutions held a hearing entitled “Make Community Banking Great Again.”
During the 118th Congress, on November 14, 2024, Chairman Hill released a set of principles which outlined his vision for invigorating community banking in America.

###

Housing and Insurance Subcommittee Examines the Federal Home Loan Bank System

Tue, 21 Jul 2026 04:00:00 GMT

Today, the Housing and Insurance Subcommittee, led by Chairman Mike Flood (NE-01), held a hearing to explore the structure, operations, and mission of the Federal Home Loan Bank System.

On Supporting Local Lending and Community Banks:

Subcommittee Chairman Flood said, “… when I learned more about the Federal Home Loan Bank of Topeka's programs, I found them to be much more efficient in getting results. In Cuming County, Nebraska, we were able to work through a local community bank to get seniors on fixed incomes upgrades to their homes that will make it easier for them to make it through the winter. I'm talking better windows to keep the warm air inside and the cold air outside. I know they've done projects like helping make it wheelchair accessible to get into your house. Improvements like these make a difference for real people. And when you have the local banker assisting, they're looking for fraud. They're making sure that the people that are getting these dollars are the ones that truly need them.”

Rep. Troy Downing (MT-02) said, “The Federal Home Loan Bank system plays an important role in providing liquidity to rural banks to make it easier for them to lend to their communities. And I know many of the financial institutions in Montana have been very pleased with the Des Moines FHLB.”

Rep. William Timmons (SC-04) said, “For decades, the Federal Home Loan Bank system has served as a reliable source of liquidity for small community banks, credit unions, and insurance companies across our districts. By ensuring these institutions have dependable access to funding, the system has helped support local lending and expand access to credit for families, businesses, and communities.”

Rep. Monica De La Cruz (TX-15) said, “I introduced legislation, the Bringing the Discount Window into the 21st Century Act, which passed the House of Representatives and, among other provisions, this bill directs the Board of Governors to examine how the discount window interacts with other sources of liquidity, including the Federal Home Loan Bank System.”

On Strengthening Financial Stability:

Committee on Homeland Security Chairman Andrew Garbarino (NY-02) said, “Congress created the Federal Home Loan Banks during the Great Depression to provide stable funding sources for savings and loans and support the 30-year home mortgage. Since then, the system's liquidity mission has helped stabilize financial markets during the 2008 financial crisis, the COVID-19 pandemic, and, according to the GAO, the 2023 regional banking turmoil following the failure of Silicon Valley Bank. During that episode, the Federal Home Loan Banks provided significant funding in a single day to more than 20 of the nation's largest community banks, helping stabilize the financial system and prevent broader market disruption.”

Witnesses on the Federal Home Loan Bank System’s Mission:

Ms. Jill Naamane, Director, U.S. Government Accountability Office, said, “Timely coordination between FHLBanks and Federal Reserve Banks is critical when a bank is at risk. This coordination must negotiate overlap in membership between the two systems. The March 2023 bank failures revealed such coordination challenges. After March 2023, the FHLBanks and Federal Reserve System initiated two efforts to improve coordination during periods of stress: (1) increasing engagement between FHLBanks and Federal Reserve Banks and (2) establishing a working group to improve interoperability. These efforts are intended to address the coordination challenges experienced during the March 2023 bank failures and are consistent with federal internal control standards related to control activities and information and communication.”

Mr. Ryan Donovan, President and Chief Executive Officer, Council of Federal Home Loan Banks, said, “The Federal Home Loan Banks remain a vital source of strength for the country's financial and housing finance infrastructure. It is a century-old cooperative model that continues to provide reliable liquidity through banks, thrifts, credit unions, insurance companies, CDFIs, and housing associates. They support housing and community investment across every congressional district and help local lenders serve their communities in all market conditions. Congress should resist efforts to weaken the liquidity mission or reduce the FHLBanks to a single metric, and instead preserve what is working while adopting focused adjustments that improve mission delivery, clarify supervisory boundaries, and strengthen the housing finance system the FHLBanks help support.”

Mr. Barry Lockard, President and Chief Executive Officer, Cornhusker Bank, on behalf of Federal Home Loan Bank of Topeka, said, “Lenders can, should, and often do obtain wholesale liquidity and funding from a variety of sources. However, if ongoing access to FHLBank funding is perceived to be conditional, unreliable, or simply uncompetitive, the market will migrate. This would directly reduce the resources FHLBanks have to dedicate to growing communities while driving local lenders to utilize other wholesale liquidity sources which have no equivalent obligation to support housing and community development in such a granular and informed way.”

###

Steil: The CLARITY Act Will Unlock the Next 250 Years of Innovation Here in the United States

Fri, 17 Jul 2026 04:00:00 GMT

Today, the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, led by Subcommittee Chairman Bryan Steil (WI-01), is holding a field hearing on how the CLARITY Act establishes a clear and functional regulatory framework for digital assets in the United States.

Read Subcommittee Chairman Steil’s opening remarks as prepared for delivery:

"In America’s 250^th year, on the site of the building that first housed Congress, and one year to the day after the House of Representatives passed the CLARITY Act, we gather amidst the pillars of history.

"For 250 years, American markets have powered innovation and economic growth.

"And each time tchnology and financial innovation leapt forward, Congress met the moment.

"We did not stop the engines of growth: we gave them clear, consistent rules so they could run.

"Right here, the First Congress debated Alexander Hamilton’s revolutionary vision for a national financial system, including a plan to turn state war debts into the first federal government bonds, backed by the full faith and credit of our new nation.

"One hundred years later, as a patchwork of paper notes and counterfeits flooded the states, Congress stepped in again.

"The National Bank Act swept away the chaos of wildcat banking and created the first American dollar bills we carry in our pockets today.

"In the next century, when opaque and disorderly markets ruined millions, Congress passed the Securities Act and the Exchange Act to restore transparency and public trust.

"Consistency and clarity conquered chaos.

"Today, here on Wall Street, we gather at the threshold of the next generation of innovation.

"As the Senate prepares to consider the CLARITY Act, we can complete nearly a decade of work.

"Since 2017, the House Committee on Financial Services, alongside our colleagues on the House Committee on Agriculture, has worked to craft a durable framework for digital asset that fosters innovation while protecting consumers and investors.

"Our goal is clear: replace regulation by enforcement with clear rules of the road for digital assets.

"For 250 years, America has led the world in financial innovation.

"For fifteen years, blockchain technology has redefined the possible.

"For nearly ten years, Congress has worked to write the rules for this new financial frontier.

"And for one year, we have had a statutory framework for payment stablecoins. Now, it is our turn to meet the moment.

"Today, we will hear from experts who are building the next generation of financial innovation and why they believe the CLARITY Act is essential.

"I thank the witnesses for being here today, and my colleagues for making the trip to have this important discussion.

"Let’s unlock the next 250 years of innovation here in the United States.

"Let’s pass CLARITY."

Hearing Entitled: “Oversight of the Federal Home Loan Bank System”

Tue, 21 Jul 2026 18:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

Ms. Jill Naamane, Director, U.S. Government Accountability Office
Mr. Ryan Donovan, President and Chief Executive Officer, Council of Federal Home Loan Banks
Mr. Barry Lockard, President and Chief Executive Officer, Cornhusker Bank, on behalf of Federal Home Loan Bank of Topeka
Professor Kathryn Judge, Harvey J. Goldschmid Professor of Law, Columbia University

Legislation

H.R. _____, the Federal Home Loan Bank Mortgage Asset Modernization Act
H.R. _____, the Federal Home Loan Bank Advances as Core Funding Act
H.R. _____, the Federal Home Loan Bank Membership Clarification Act
H.R. _____, the Federal Home Loan Bank Capital Clarification Act of 2026
H.R. _____, a bill to increase the mandatory contribution amount of Federal Home Loan Banks to the Affordable Housing Program, and for other purposes

Hearing Entitled: “Oversight of the Financial Crimes Enforcement Network”

Tue, 21 Jul 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

Ms. Andrea Gacki, Director, Financial Crimes Enforcement Network (FinCEN)

Field Hearing Entitled: “Building the Future of Finance: How the CLARITY Act Unlocks Innovation”

Fri, 17 Jul 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

Ms. Sarah Aberg, Chief Legal Officer, Nova Labs Inc.
Ms. Randi Abernethy, Head of Cleraing and Group Risk, Bullish
Mr. Ryan Louvar, Chief Legal Officer, WisdomTree
Mr. Jason Somensatto, Director of Policy, Coin Center

Legislation

H.Res. 111, Expressing support for blockchain technology and digital assets
H.R. 8957, the American Reserve Modernization Act

Full Committee Hearing Entitled: “The Semi-Annual Report of the Bureau of Consumer Financial Protection”

Wed, 15 Jul 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

The Honorable Russell Vought, Acting Director, Consumer Financial Protection Bureau

Legislation

H.R. __, the CFPB Reform Act of 2026

Hearing Entitled: “The Federal Reserve’s Semi-Annual Monetary Policy Report”

Tue, 14 Jul 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

The Honorable Kevin M. Warsh, Chairman, Board of Governors of the Federal Reserve System

Markup of Various Measures

Tue, 30 Jun 2026 14:00:00 GMT

Click here to view the livestream of this markup.

Click here to view the Committee Memorandum.

Click here for e-voting pictures.

Legislation:

Resolution to Reauthorize the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, was AGREED TO by voice vote.

H.R. 1483, the Protecting Investors’ Personally Identifiable Information Act, was AGREED TO by a recorded vote of 27 YEAS and 21 NAYS. (FC Vote #287)

H.R. 1640, the HEIRS Act of 2025, was AGREED TO by a recorded vote of 51 YEAS and 0 NAYS. (FC Vote #302)

H.R. 5402, the Credit Access and Inclusion Act of 2025, was AGREED TO by a recorded vote of 28 YEAS and 23 NAYS. (FC Vote #296)

H.R. 5775, the FCRA Liability Harmonization Act, was AGREED TO by a recorded vote of 27 YEAS and 23 NAYS. (FC Vote #293)

H.R. 7030, the Securing Facilities for Mental Health Services Act was not considered.

H.R. 7187, the Clarity for Compensation Act, was AGREED TO by a recorded vote of 51 YEAS and 0 NAYS. (FC Vote #291)

H.R. 8141, the Fair Credit Reporting Reseller Accuracy Act, was AGREED TO by voice vote.

H.R. 9329, the SEC Reform and Restructuring Act, was AGREED TO by a recorded vote of 28 YEAS and 23 NAYS. (FC Vote #290)

H.R. 9330, the Earned Wage Access Consumer Protection Act, was AGREED TO by a recorded vote of 29 YEAS and 22 NAYS. (FC Vote #301)

H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act of 2026, was AGREED TO by a recorded vote of 51 YEAS and 0 NAYS. (FC Vote #297)

Amendments:

ANS to H.R. 8141, offered by Rep. Lawler of New York, designated as ANS_H8141, was AGREED TO by voice vote.

An amendment, designated HR8141B (Waters 3), was NOT AGREED TO by voice vote.
An amendment, designated Gotthe_253 (Gottheimer 1), was WITHDRAWN.

ANS to H.R. 7030, offered by Rep. Emmer of Minnesota, designated as ANS_H7030

ANS to H.R. 5402, offered by Ms. Kim of California, designated as ANS5402, was AGREED TO by voice vote.

An amendment, designated HR5402B (Waters 4), was NOT AGREED TO by a recorded vote of 23 YEAS and 28 NAYS. (FC Vote #294)
An amendment, designated Bynum_091 (Bynum 1), as NOT AGREED TO by a recorded vote of 23 YEAS and 28 NAYS. (FC Vote #295)

ANS to H.R. 5775, offered by Rep. Loudermilk of Georgia, designated as ANS_H5775, was AGREED TO by voice vote.

An amendment, designated HR5775B (Waters 2), was NOT AGREED TO by a recorded vote of 23 YEAS and 28 NAYS. (FC Vote #292)

ANS to H.R. 7187, offered by Rep. Nunn of Iowa, designated as NUNN_170, was AGREED TO by voice vote.

ANS to H.R. 9329, offered by Rep. Wagner of Missouri, designated as WAGNER_057, was AGREED TO by voice vote.

An amendment, designated Waters_176 (Waters 1), was NOT AGREED TO by a recorded vote of 22 YEAS and 27 NAYS. (FC Vote #288)
An amendment, designated Lynch_069 (Lynch 1), was NOT AGREED TO by a recorded vote of 22 YEAS and 27 NAYS. (FC Vote #289)

ANS to H.R. 9330, offered by Rep. Steil of Wisconsin, designated as STEIL_052, was AGREED TO by voice vote.

An amendment, designated 9330_Amend1 (Waters 5), was NOT AGREED TO by a recorded vote of 23 YEAS and 28 NAYS. (FC Vote #298)
An amendment, designated Pressma_087 (Pressley 1), was NOT AGREED TO by a recorded vote of 23 YEAS and 28 NAYS. (FC Vote #299)
An amendment, designated Liccar_116 (Liccardo 1), was AGREED TO by a recorded vote of 46 YEAS and 5 NAYS. (FC Vote #300)

ANS to H.R. 9331, offered by Rep. Kim of California, designated as KIMCA_130

ANS to H.R. 1483, offered by Rep. Loudermilk of Georgia, designated as LOUDER_037

ANS to H.R. 1640, offered by Rep. Williams of Georgia, designated as ANS_1640

Hearing Entitled: “From Wall Street to Main Street: The Future of How America Invests”

Thu, 25 Jun 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

Ms. Jody Jonsson, Vice Chair, Capital Group
Dr. Matthew Ringgenberg, Emma Eccles Jones Professor of Finance, David Eccles School of Business, University of Utah
Mr. Jeffrey Ptak, Managing Director, Morningstar
Mr. Tom Quaadman, Chief of Government Affairs and Public Policy, Investment company Institute
Ms. Natalia Renta, Associate Director for Corporate Governance & Power, Americans for Financial Reform

Legislation

H.R. 3248, the American Ownership and Resilience Act
H.R. 7187, the Clarity for Compensation Act
H.R. ____, the Consumer-Led Enhancement of Annuity and Insurance Registration (CLEAR) Forms Act
H.R. 9329, the SEC Reform and Restructuring Act

Hearing Entitled: “Future of Payments: Promoting Innovation and Fair Markets”

Wed, 24 Jun 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

Mr. David Portilla, Partner and Co-Head, Financial Institutions, Davis Polk & Wardell LLP
Mrs. Paige Paridon, Executive Vice President a& Co-Head of Regulatory Affairs, Bank Policy Institute
Mrs. Eileen O'Mara, Vice Chair, Stripe
Ms. Rachel Anderika, Head of Global Operations, Anchorage Digital
Ms. Tara Flynn, Policy Director, National Community Reinvestment Coalition

Field Hearing Entitled: “Examining the Structure of the Federal Reserve System”

Fri, 12 Jun 2026 15:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

Mr. Thomas Hoenig, Distinguished Senior Fellow, Mercatus Center at George Mason University
Ms. Esther George, Former President and Chief Executive Officer, Federal Reserve Bank of Kansas City
Mr. Gary Kelly, Deputy Chair, Board of Directors, Federal Reserve Bank of Dallas
Mr. Benjamin Keen, Associate Professor of Economics, University of Oklahoma

Hearing Entitled: Examining Local Needs in Disaster Recovery

Wed, 10 Jun 2026 14:00:00 GMT

Click here to view the livestream of this hearing.

Click here to view the Committee Memorandum.

Witnesses

Mr. Joseph V. Jaroscak, Analyst in Economic Development Policy, Congressional Research Service
Mr. J. Patrick Cave, Senior Vice President of Policy, Enterprise Community Partners
Ms. Heather Lagrone, Senior Deputy Director, Texas General Land Office
Mrs. Stephanie McGarrah, Deputy Secretary, North Carolina Department of Commerce