Olivia
Online
Financial Services GOP
@FinancialCmte
U.S. House Committee on Financial Services Republicans – Chairman @RepFrenchHill
Washington, D.C.
Joined May 2009
2.9K Following
61.6K Followers
21.2K Posts
In yesterday’s @FinancialCmte, I spoke in support of the bipartisan Clarity for Compensation Act led by @RepGregoryMeeks and Congressman @ZachNunn.
Too often, when people think of financial advisors, they picture large Wall Street firms. The reality is very different. Most financial advisors are small business owners.
This bill reduces unnecessary government “blue” tape, provides clear and consistent rules for independent financial advisors, and allows these small business owners to focus on what they do best—serving their clients, supporting their communities, and creating economic opportunity.
RT @RepYoungKim: 🚨BREAKING—My STOP Payments Fraud Act has PASSED @FinancialCmte!
The STOP Payments Fraud act strengthens protections by al…
On National Financial Freedom Day, we celebrate the economic freedom that empowers Americans to build businesses, achieve financial security, and pursue the American Dream. The Committee is working hard to strengthen our financial markets, support community banks, and expand opportunity so every American has the opportunity to build a brighter future.
Dog days of summer! Some in Congress might want need a break from the heat, but @FinancialCmte delivered big wins for Americans today 🐶
Who to follow
Ways and Means Committee
@WaysandMeansGOP
Official account of the Senior Committee, with jurisdiction over tax, trade, health care, welfare, and Social Security. Chairman @RepJasonSmith.
Treasury Department
@USTreasury
Executive agency responsible for promoting economic prosperity & ensuring financial security of the United States. Led by 79th Treasury @SecScottBessent
Patrick McHenry
@PatrickMcHenry
Dad x3. Husband. Proudly served North Carolina’s Tenth Congressional District and as Chairman of @financialcmte.
Hardworking Americans are hustling to pay their rent, utility, & phone bills on time.
Our credit system should recognize that.
Great to see my Credit Access & Inclusion Act pass @FinancialCmte to help 26 million credit-invisible Americans build credit & get a leg up.
America's capital markets power our economy.
Glad to see my REG Act pass out of @FinancialCmte to strengthen Congressional oversight of the SEC & ensure its rules work for American businesses, workers, & families—not against them.
https://t.co/wKl4wADQAD
Small-town financial advisors helping Iowa families save for retirement or buy their first home shouldn't be tangled in a complex rule book created for Wall Street firms.
My bipartisan bill with @RepGregoryMeeks just passed @financialcmte to level the playing field and keep trusted, independent advisors working for Iowa families.
@RepMikeLawler H.R. 8141, the Fair Credit Reporting Reseller Accuracy Act, by @RepMikeLawler, and @RepJoshG, passed by voice vote.
The Committee is now considering H.R. 8141, the Fair Credit Reporting Reseller Accuracy Act, by @RepMikeLawler.
WATCH: @RepMikeLawler in support of H.R. 8141:
“[The Fair Credit Reporting Reseller Accuracy Act] preserves consumer protection by ensuring that the source of inaccurate information remains responsible. It shields resellers, many of them small and mid-sized businesses, from misdirected litigation. And it protects the speed and efficiency of mortgage lending, where delays caused by unnecessary legal exposure can raise costs for families already struggling with affordability.”
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WATCH: Chairman @RepFrenchHill in support of H.R. 1640:
“Today's bill 1640 is another step in the right direction that would provide HUD the authority to determine to make additional resources available to heirs property owners going forward.”
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@RepBryanSteil @RepFrenchHill H.R. 9330, the Earned Wage Access Consumer Protection Act, by @RepBryanSteil, passed 29-22.
The Committee is now considering H.R. 9330, the Earned Wage Access Consumer Protection Act, by @RepBryanSteil.
WATCH: Chairman @RepFrenchHill in support of H.R. 9330:
“Earned wage access services allow workers to access earned wages before their scheduled payday. This is their money. They've earned these wages. For many families facing unexpected expenses, these services can provide an alternative to other costlier options, such as paying late fees or overdraft fees.”
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@RepYoungKim H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act of 2025, by @RepYoungKim, passed 51-0.
The Committee is now considering H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act, by @RepYoungKim.
WATCH: @RepYoungKim in support of H.R. 9331:
“My bill, the STOP Payments Fraud Act, would allow financial institutions to take an additional day to analyze checks and wires, to identify whether there is reason to suspect fraud. Utilizing this additional time, financial institutions will then be able to clear the funds or place an extended hold for fraud as they attempt to collect more information that could lead to the capture of these criminals.”
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@RepYoungKim H.R. 5402, the Credit Access and Inclusion Act of 2025, by @RepYoungKim, and @RepBynum passed 28-23.
The Committee is now considering H.R. 5402, the Credit Access and Inclusion Act of 2025, by @RepYoungKim.
WATCH: @RepYoungKim in support of H.R. 5402:
“My bill would improve access to credit by allowing additional data, such as utility and phone payments, to be used as factors in determining credit worthiness so that millions of hardworking Americans can receive credit for the small things that they're already doing.”
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@RepFrenchHill The Resolution to Reauthorize the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity passed by voice vote.
The Committee is now considering the Resolution to Reauthorize the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity.
WATCH: Chairman @RepFrenchHill in support of the Resolution:
“The Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity has successfully worked on a bipartisan manner throughout the 119th Congress. … Task force efforts have helped shine a spotlight on the challenges that require action from policymakers and other stakeholders.”
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@RepLoudermilk @RepFitzgerald H.R. 5775, the FCRA Liability Harmonization Act, by @RepLoudermilk, passed 27-23.
The Committee is now considering H.R. 5775, the FCRA Liability Harmonization Act, by @RepLoudermilk.
WATCH: @RepFitzgerald in support of H.R. 5775:
"Over the years, inconsistent interpretations of the FCRA Civil Liability Provisions have created significant uncertainty for businesses that make good-faith efforts to comply with the law. The legislation brings greater consistency to the statute by establishing clearer standards for class action liability while preserving consumers' ability to recover actual damages when they have been harmed."
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@ZachNunn @RepAnnWagner H.R. 7187, the Clarity for Compensation Act, by @ZachNunn, and @RepGregoryMeeks passed 51-0.
@ZachNunn WATCH: @RepAnnWagner in support of H.R. 7187:
“The narrow exemption in H.R. 7187 removes administrative red tape and enables better strategic planning for Main Street businesses, all while keeping oversight responsibilities firmly in place.”
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@RepAnnWagner @RepTroyDowning H.R. 9329, the SEC Reform and Restructuring Act, by @RepAnnWagner, passed 28-23.
WATCH: @RepTroyDowning in support of H.R. 9329:
"Today, the SEC has 43 total offices, 36 of which are not in statute, and the SEC Chair has more than 20 direct reports. This is not an efficient way to operate. So my legislation directs the SEC Chairman to review the organizational structure of the Commission and ultimately to consolidate the number of offices and direct reports to the best extent possible. So this creates an increase in efficiency. The SEC will also be required to submit a report to Congress on legislative recommendations on how to better effectuate this reorganization."
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@RepLoudermilk @RepAnnWagner H.R. 1483, the Protecting Investors’ Personally Identifiable Information Act, by @RepLoudermilk, passed 27-21.
The Committee is now considering H.R. 1483, the Protecting Investors’ Personally Identifiable Information Act, by @RepLoudermilk.
WATCH: @RepAnnWagner in support of H.R 1483:
“H.R. 1483 prevents the SEC from requiring an exchange, a national securities association, or their members from providing personally identified information with respect to individuals or a reportable event. Critically, nothing in this bill would inhibit the Commission's obligation and authority to go after securities fraud.”
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WATCH: @USRepMikeFlood in support of H.R. 1640:
“This bill would establish a grant program for states and localities that assist their residents with expenses relating to establishing and documenting property ownership rights or settling the estate of a decedent. Heirs property is property that is passed down without a will or clear title and held by multiple descendants of the owner. In some cases, when multiple heirs have a claim to property, only one owner needs to agree to sell in order to force a sale of the entire property. That can create unfortunate situations where families that have owned land for generations see it taken away due to a lack of proper documentation. This bill would permit HUD to assist states and localities that have existing programs that help heirs obtain the legal assistance they need to establish clear title.”
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