The House Committee on Financial Services convened under the leadership of Chairman French Hill (AR-02) for a full committee markup session. Five significant bills were forwarded to the full U.S. House of Representatives for further evaluation.
Chairman Hill outlined the committee’s focus since the start of the 119th Congress, stating, “Since we kicked off the 119th Congress, our members have been hard at work, crafting legislative solutions to difficult problems. …Three of the bills are part of our ongoing efforts to promote financial innovation through sound digital asset policy, while the other two seek to enhance access to credit by removing compliance burdens and fostering competition through new bank formations. …Members in this room – on both sides of the aisle – have spent years collaborating on stablecoin legislation. …We’ve all come to an important conclusion: Innovation needs guardrails, not roadblocks. The STABLE Act – championed by Subcommittee Chair Bryan Steil – is just that.”
Detailed below are the bills that were deliberated:
H.R. 2392, known as the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025. This piece of legislation, sponsored by Rep. Bryan Steil (WI-01), was approved with a vote of 32-17.
The Financial Technology Protection Act, identified as H.R. 2384, was presented by Rep. Zach Nunn (IA-03) and received unanimous support with a 49-0 vote.
Another bill, H.R. 976, titled the 1071 Repeal to Protect Small Business Lending Act, was backed by Rep. Roger Williams (TX-25). It passed with a narrow 27-22 margin.
The Anti-CBDC Surveillance State Act, H.R. 1919, sponsored by Majority Whip Tom Emmer (MN-06), was also passed with a 27-22 vote.
Lastly, H.R. 478, the Promoting New Bank Formation Act backed by Rep. Andy Barr (KY-06), secured approval with a 28-21 vote.
These legislative recommendations reflect the committee’s commitment to navigating both stability in financial innovation and enhanced access to credit.
