The U.S. House Financial Services Committee released prepared remarks by Chairman French Hill for a committee markup of multiple bills intended to modernize aspects of the financial regulatory framework, with a stated focus on economic growth, market integrity, and adapting oversight to technological change. Measures highlighted in the remarks include Rep. Warren Davidson’s Repealing Big Brother Overreach Act, which would codify administration rulemaking to eliminate certain beneficial ownership reporting requirements; Hill’s Small LENDER Act, which would delay implementation of Dodd-Frank Section 1071 small business lending data collection requirements, narrow their scope, and exempt smaller institutions; Rep. Pete Sessions’ Exchange Rate Accountability Act of 2026, which would direct the Treasury Secretary to oppose increases in voting power for International Monetary Fund member countries that do not adopt exchange rate policies consistent with balanced and fair global trade practices; and Rep. Bryan Steil’s Protecting Americans’ Savings from Politics Act, which would strengthen transparency and accountability in the proxy process, curb conflicts of interest among proxy advisory firms, and emphasize shareholder and investor economic interests in proxy voting and investment decision-making.
U.S. Financial Services Committee 2026-04-21
U.S. House Financial Services Committee marks up bills on beneficial ownership reporting, Section 1071 small business lending data, IMF voting power and proxy voting oversight
The U.S. House Financial Services Committee released Chairman French Hill’s prepared remarks for a markup of bills to modernize the financial regulatory framework. Key measures include proposals to roll back certain beneficial ownership reporting, delay and narrow Dodd-Frank Section 1071 small business lending data rules, condition support for International Monetary Fund voting power increases on members’ exchange rate policies, and tighten transparency and conflict-of-interest rules in the proxy advisory and voting process.