Regulatory Overreach: The Price Tag on American Prosperity (EventID=118144)

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Connect with the House Financial Services Committee » Get the latest news: https://democrats-financialservices.house.gov/ » Follow us on Facebook: https://www.facebook.com/USHouseFSC » Follow us on Twitter: https://x.com/USHouseFSC » Follow us on Instagram: https://www.instagram.com/ushousefsc/ » Follow us on Bluesky: https://bsky.app/profile/ushousefsc.bsky.social ___________________________________ » Subscribe: https://www.youtube.com/@USHouseFSC?sub_confirmation=1 ___________________________________ On Tuesday, April 29, 2025, at 10:00 a.m. (ET) Subcommittee on Financial Institutions Chair Congressman Barr and Subcommittee Ranking Member Congressman Foster will host a field hearing entitled, “Regulatory Overreach: The Price Tag on American Prosperity." ___________________________________ Witnesses for this one-panel hearing will be: • Ms. Sarah Flowers, Senior Vice President, Senior Associate General Counsel, Bank Policy Institute • Mr. J. Michael Radcliffe, Chairman and Chief Executive Officer, Community Financial Services Bank (Benton, KY) • Mrs. Margaret E. Tahyar, Partner, Head of Financial Institutions Group, Davis Polk & Wardwell LLP • The Honorable Graham Steele, Academic Fellow, Rock Center for Corporate Governance, Stanford Law School ___________________________________ This hearing, part of the Committee’s “Make Community Banking Great Again” initiative, focuses on promoting regulatory fairness, transparency, and appropriately scaled oversight within the financial system. It will explore reforms to increase accountability in bank supervision and enhance interagency coordination, with the goal of establishing a more efficient and tailored regulatory framework that reflects the size and complexity of financial institutions while preserving financial stability and public trust. Legislation Noticed 1. H.R. ____, the Taking Account of Institutions with Low Operation Risk of 2025 Act of 2025 (TAILOR Act of 2025) (Loudermilk): This discussion draft requires federal regulators to tailor supervisory actions to minimize burdens on institutions, reduce reporting for eligible community banks, and report on the modernization of bank supervision. 2. H.R. 2702, the Financial Integrity and Regulation Management Act (FIRM Act) (Barr): This bill curtails political weaponization by eliminating reputational risk as a component of the supervision of depository institutions. 3. H.R. ____, the International Regulatory Transparency and Accountability Act (Flood): This discussion draft mandates that federal banking agencies disclose details of international discussions, report to Congress on positions taken, publish meeting summaries, and hold public comment periods for international agreements. 4. H.R. ____, the Ensuring U.S. Authority over U.S. Banking Regulations Act (Loudermilk): This discussion draft requires the federal banking agencies to disclose major rule implementations, submit economic analyses to Congress, and report on climate-related financial risk engagements with international organizations. 5. H.R. ____, the Congressional Banking Regulation Priorities and Accountability Act of 2025 (Barr): This discussion draft mandates federal banking agencies report and seek Congressional approval before joining or participating in international organizations, disclose related policies, and ensure transparency in their international engagements. 6. H.R. ____, the Banking Regulator International Reporting Act (Barr): This discussion draft would require annual reporting by federal banking agencies on interactions with nongovernmental international organizations. 7. H.R. ____, the Guidance Clarity Act of 2025: This discussion draft requires federal financial regulatory agencies to clearly state on the first page of guidance documents that they have no legal force and are meant to clarify existing laws or policies, with the Office of Management and Budget ( #OMB ) overseeing implementation. 8. H.R. ____, the #FDIC Board Accountability Act (Huizenga): This discussion draft removes the #CFPB Director as a voting member of the FDIC board, mandates the appointment of a member with experience in small depository institutions, and limits board members’ terms to twelve years. 9. H.R. ____, the Federal Reserve Financial Accountability and Transparency Act (Williams): This discussion draft mandates additional reporting requirements in the Federal Reserve’s annual report about its expenses and research. 10. H.R. ____, the Banking Regulator Accountability Act (De La Cruz): This discussion draft requires the principals of the FDIC, #OCC, and #NCUA to testify semiannually alongside the #federalreserve Vice Chair for Supervision. 11. H.R. 2808, the Homebuyers Privacy Protection Act (Rose): This bill prohibits a credit reporting agency from providing a consumer’s credit report... ___________________________________ Hearing page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=413250