Financial Services GOP

The GUARD Financial Data Act: ✅Limits unnecessary data collection and sharing ✅Increases transparency ✅Empowers consumers to access, transfer, and delete their data ✅Supports community banks and small financial institutions

On the main stage at #EXIM26 🇺🇸 Remarks from @RepFrenchHill on strengthening American competitiveness, expanding exports, and supporting U.S. businesses in the global marketplace.

At #EXIM26, @RepFrenchHill underscores his top priority: advancing bicameral, bipartisan legislation to reauthorize the Bank. 🇺🇸

WATCH: During Financial Literacy Month, Chairman @RepFrenchHill and Committee Members highlighted the value of financial literacy through a series of videos focused on saving, investing, and making sound economic decisions for the future, while also highlighting tools to help Americans achieve long-term financial success. Watch the videos here 📺⬇️ youtube.com/playlist?list=…

NEW: Chairman @RepFrenchHill and Financial Institutions Subcommittee Chairman @RepAndyBarr's statement on the CFPB’s final Section 1071 rule. financialservices.house.gov/news/documents…

For too many Americans, the prospect of owning a home seems out of reach. While supply remains a key issue, the availability of affordable mortgages has also played a role. Traditional lenders have pulled out of the mortgage market, and especially in suburban areas like Missouri’s 2nd District, leading to less competition and fewer options for homebuyers. During last week’s Financial Services Committee hearing, I asked our witness what potential effects first time homebuyers could see in places like St. Louis if we get regulations right. Watch here.

ICYMI: FSC and @HouseCommerce hosted a joint “Data Privacy in Practice” fireside chat featuring @RepHuizenga and @RepJohnJoyce. The members discussed two landmark data privacy bills - the GUARD Financial Data Act and SECURE Data Act. 📺🔽 youtu.be/oEZost1YjO8?si…

The GUARD Financial Data Act puts Americans back in control of their financial data by limiting unnecessary data collection, strengthening privacy protections, and establishing clear national standards to safeguard sensitive information and support innovation.

I had a great time addressing leaders of independent community banks at the @ICBA Capital Summit. I discussed the importance of community banks as a resource for small businesses and how our work on the @FinancialCmte is strengthening America’s commitment to helping them tackle scams and fraud. Thank you to CEO Rebecca Romero Rainey for hosting and all the assembled leaders for everything you do to invest in America.

This morning, Chairman @RepFrenchHill joined @ICBA's @romerorainey to talk about the vital role community banks play in supporting local economies, the Committee's Main Street Capital Access Act, and ongoing efforts to provide meaningful regulatory relief.

WATCH: Chairman @RepFrenchHill on Committee Republicans' work throughout Financial Literacy Month promoting sound financial decisions to achieve long term success. 📺⬇️

Derivatives are a critical tool that help keep U.S. Treasury markets liquid and healthy, and I’m glad regulators acknowledged that in their new Basel III proposal. Watch my questions to witnesses at today’s @FinancialCmte Republicans hearing 📺👇

WATCH: @USRepMikeFlood on the importance of derivatives: “The subject of derivatives is exceedingly important to the market overall, and specifically for the state that I represent, Nebraska, which is a very large Ag state. A strong futures market ensures that even if there are price swings between when an elevator purchases corn from a producer and when the elevator sells that corn to a feed mill, the elevator can hedge to protect themselves from those price fluctuations. In a commodities market that can fluctuate day to day, derivatives can be used as a tool that provides some much needed stability.” 📺⬇️

WATCH: @RepAndyBarr questions witnesses on how the previous Basel III Endgame proposal disadvantaged central clearing, to which Mr. McPartland responds: “Thankfully, we've seen an uptick in bank holdings of U.S. Treasuries. That's a great advancement and that's what we want. That is what those primary dealers are there for. But the previous or existing rules, in some ways, penalized banks for those holdings. They didn't recognize the true risk, right? So offsetting the derivatives with the bonds, right? Really that neutralizes a lot of that risk.” 📺⬇️

Great news out of @BankingGOP. President Trump's highly qualified nominee, Kevin Warsh, is one step closer to being confirmed and advancing President Trump's economic agenda.

WATCH: @RepHuizenga questions Mr. McPartland on how companies can hedge risk efficiently using derivatives: “What we want corporations to focus on is building those products and services and making them accessible and as affordable as they can, giving the input costs. So what derivatives allows them to do is focus on that right to focus on the product and the consumer and growing without as much having to worry about fluctuations in whether it be financial markets or agriculture or energy markets. This is arguably or maybe not arguably why the derivatives market was created.” 📺⬇️

WATCH: @RepFrankLucas asks Mr. McPartland how derivatives support Treasury markets: “The hedging that futures and swaps provide, it does allow dealers and investors to maintain larger positions. If they can be sure that they are properly hedged against unexpected market movements, they're going to be more apt to hold on to those positions even when markets get volatile, right, which we want.” 📺⬇️

WATCH: Today at 2:30PM ET @RepHuizenga and @RepJohnJoyce will participate in a fireside chat with @PunchbowlNews' @BenBrodyDC on joint @HouseCommerce and Financial Services landmark data privacy bills - the GUARD Financial Data Act and SECURE Data Act. 📺🔽 youtube.com/live/0bwLE_1n4…

The Committee stands in recess and will reconvene following votes on the House Floor.

WATCH: Chairman @RepFrenchHill delivers opening remarks at today's Task Force hearing: "The strength of the U.S. Treasury market depends not just on its size, but on its depth, liquidity, and resilience. Today we will examine how derivatives markets support that foundation. These instruments play a critical role in price discovery, risk management, and overall market functioning—and when used effectively, derivatives certainly can enhance liquidity in Treasury markets, ensuring greater stability.” 📺⬇️