U.S. House Committee on Financial Services Chairman French Hill issued a prepared statement ahead of a committee markup of multiple bills aimed at strengthening community banking, reducing regulatory strain on small businesses and expanding access to capital. Hill also acknowledged that the committee failed to meet its 24-hour deadline for making amendments publicly available before the markup and said staff had been directed to ensure deadlines are met going forward. Hill highlighted his FAIR Exams Act, which would increase transparency in bank examinations, set clear timelines and establish an independent supervisory appeals process for disputes. Other measures included the Financial Integrity and Regulation Management (FIRM) Act, intended to prevent politicisation of bank supervision and focus regulatory attention on material safety-and-soundness risks, and the Bank Failure Prevention Act, which would define when bank merger applications are complete and set deadlines for their review to ensure timely decisions. Capital markets legislation referenced included the Increasing Investor Opportunities Act, which would expand the ability of closed-end funds to invest in private markets, with the stated aim of giving everyday investors additional diversification options.
U.S. Financial Services Committee 2025-05-20
U.S. House Committee on Financial Services sets markup agenda for bank exam transparency, merger review deadlines and private market access bills
U.S. House Financial Services Chairman French Hill outlined priorities to bolster community banking, ease small business regulatory burdens, and enhance capital access. Key proposals include the FAIR Exams Act for transparency in bank examinations, the FIRM Act to prevent politicization in bank supervision, and the Bank Failure Prevention Act to streamline bank merger reviews. Hill noted a procedural lapse in amendment disclosures, with steps taken to rectify future compliance.