The U.S. Financial Services Committee’s National Security, Illicit Finance, and International Financial Institutions Subcommittee reviewed how the Committee on Foreign Investment in the United States (CFIUS) is using its Foreign Investment Risk Review Modernization Act (FIRRMA) authorities to assess certain foreign investments for U.S. national security risks, with a focus on sensitive technology, infrastructure and data. Members emphasised the need for an investment screening process that is efficient, transparent and difficult for adversaries to exploit, while maintaining confidence in the openness of the U.S. economy. The discussion also highlighted the scale of recent foreign direct investment commitments cited by lawmakers, concerns about foreign adversary ownership of agricultural land and infrastructure, and a proposal referenced by Rep. Frank Lucas to add the Secretary of Agriculture as a permanent CFIUS member for agricultural transactions and require CFIUS reviews of threats notified by the U.S. Department of Agriculture. Treasury’s Assistant Secretary for Investment Security, Chris Pilkerton, reiterated that CFIUS’s core priority is identifying and addressing national security risks from transactions within its jurisdiction through an interagency process involving law enforcement and the intelligence community.
U.S. Financial Services Committee 2026-01-14
U.S. Financial Services Committee subcommittee reviews CFIUS screening of foreign investment under FIRRMA
The U.S. Financial Services Committee's subcommittee reviewed CFIUS's use of FIRRMA authorities to assess foreign investments for national security risks, focusing on sensitive technology, infrastructure, and data. Discussions included the need for an efficient, transparent investment screening process, concerns over foreign ownership of agricultural land, and a proposal to add the Secretary of Agriculture as a permanent CFIUS member for agricultural transactions.