Arkansas Congressman French Hill (R-AR-2) Named Chairman of HFSC  

Posted by Ryan Fitzgerald on December 13, 2024

The House Majority Steering Committee charged with outlining the new leadership and Republican membership of committees in the 119th Congress voted in support of Rep. Hill’s Chairmanship, following at least two rounds of voting. In the last week, Representatives Andy Barr (R-KY-6), Bill Huizenga (R-MI-4), and Frank Lucas (R-OK-3), all current HFSC members shared their visions for the structure, direction, and work of committee, but Hill was successful in his presentation and outlook for the committee.

As a former community banker and Treasury official who currently heads up the HFSC Subcommittee on Digital Assets, Congressman Hill is well known as a dealmaker that will regularly reach across the aisle to find common ground with Democrats on the Committee in order to move common-sense legislation. As a pragmatic moderate, he is being given the task of working to move President-elect Trump’s financial policies, including in the digital assets and cryptocurrency space, where he is known to be extremely knowledgeable.

In the weeks leading up to the race for the Chairmanship, Hill presented current committee members and the steering committee with a blueprint and vision for his leadership. The document entitled “Make Community Banking Great Again,” outlined several areas where banking regulation needs to be tailored to each institution and that regulators should be required to regularly review “the cumulative impact of their regulations.”

The GoWest Advocacy Team will be working diligently with our colleagues at ACU and within the Credit Union League system to submit specific input on the incoming Chairman’s blueprint and vision for the committee. We have specific credit union connections to the Congressman’s district, and we will be making direct inroads with the Chairman and his staff to hopefully ensure credit union priorities are included in the vision for the future.

It is expected that the work of the House Steering Committees will be wrapped up in the next week, and we should see final committee rosters being established on the House side before the end of the year. On the Senate side, most Committee leadership has already been solidified, but we may not know final committee make up until mid-January as the leaders in both parties negotiate final numbers for each committee and start finalizing assignments.

Posted in Advocacy on the Move, Federal Advocacy.