[House Report 117-701]
[From the U.S. Government Publishing Office]


                                                    Union Calendar 517

117th Congress }                                          { Report
                        HOUSE OF REPRESENTATIVES
  2d Session   }                                          { 117-701

======================================================================
                         REPORT ON THE ACTIVITY

                                 OF THE

                    COMMITTEE ON FINANCIAL SERVICES

                                 OF THE

                 UNITED STATES HOUSE OF REPRESENTATIVES

                                FOR THE

                  ONE HUNDRED AND SEVENTEENTH CONGRESS

[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]


January 2, 2023.--Committed to the Committee of the Whole House on the 
              State of the Union and ordered to be printed

                               __________

                                
                    U.S. GOVERNMENT PUBLISHING OFFICE                    
50-196                     WASHINGTON : 2023                    
          
----------------------------------------------------------------------------------- 
                        
                         LETTER OF TRANSMITTAL

                              ----------                              

                          House of Representatives,
                           Committee on Financial Services,
                                   Washington, DC, January 2, 2023.
    Dear Madam Clerk: Pursuant to clause 1(d) of rule XI of the 
Rules of the House of Representatives for the 117th Congress, I 
present herewith the report on the activity of the Committee on 
Financial Services for the 117th Congress, including the 
Committee's review and study of legislation within its 
jurisdiction, and the oversight activities undertaken by the 
Committee.
            Sincerely,
                                             Maxine Waters,
                                                        Chairwoman.
                            
                            C O N T E N T S

                              ----------                              
                                                                   Page
Jurisdiction of the Committee....................................     1
Rules of the committee of Financial Services.....................     3
Membership and Organization of the Committee on Financial 
  Services one Hundred and Seventeenth Congress..................    17
Subcommittee Memberships.........................................    18
Committee Staff..................................................    20
Overview of Legislative Accomplishments..........................    22
Oversight Activities of the Full Committee and Subcommittees.....    33
Full Committee Oversight Activities..............................    33
Subcommittee Activites...........................................    38
Subcommittee on Housing, Community Development, and Insurance....    38
Subcommittee on Diversity and Inclusion..........................    40
Subcommittee on Consumer Protection and Financial Institutions...    42
Subcommittee on Investor Protection, Entrepreneurship and Capital 
  Markets........................................................    44
Subcommittee on National Security, International Development, and 
  Monetary Policy................................................    46
Subcommittee on Overisght and Investigation......................    48
Task Force on Financial Technology...............................    50
Task Force on Artifical Intelligence.............................    51
Oversight Plan of the Committee on Financial Services for the 
  117th Congress.................................................    52
Covid-19 Pandemic Response.......................................    52
Housing and Community Development................................    53
Insurance........................................................    56
Consumer Protection and Financial Institutions...................    57
Monetary policy..................................................    60
Investor Protection and Entrepreneurship.........................    61
Capital Markets..................................................    63
National Security................................................    64
International Development and Trade..............................    66
Financial Technology and Innovation..............................    67
Diversity and Inclusion..........................................    68
Minority Views...................................................    70
Implementation of the 117th Congress Oversight Plan..............    74
COVID-19 Pandemic Response.......................................    74
Support for Minority Depository Institutions (MDIS) and Community 
  Development Financial Institutions (CDFIS).....................    77
Housing and Community Ddevelopment...............................    81
Insurance........................................................   125
Consumer Protection and Financial Institutions...................   130
Monetary Policy..................................................   162
Investor Protection and Entrepreneurship.........................   164
Capital Markets..................................................   172
National Security................................................   180
International Development and Trade..............................   213
Financial Technology and Innovation..............................   216
Diversity and Inclusion..........................................   221
Delineation of Committee Oversight Activity Pursuant to Clause 2 
  of Rule XI.....................................................   243
Appendix I--Committee Legislation................................   245
Appendix II--Public Laws.........................................   246
Appendix III--Committee Publications.............................   248


                                                    Union Calendar 517

117th Congress }                                          { Report
                        HOUSE OF REPRESENTATIVES
  2d Session   }                                          { 117-701

======================================================================
 
 REPORT ON THE ACTIVITY OF THE COMMITTEE ON FINANCIAL SERVICES OF THE 
    UNITED STATES HOUSE OF REPRESENTATIVES FOR THE ONE HUNDRED AND 
                          SEVENTEENTH CONGRESS

                                _______
                                

January 2, 2023.--Committed to the Committee of the Whole House on the 
              State of the Union and ordered to be printed

                                _______
                                

  Ms. Waters, from the Committee on Financial Services, submitted the 
                               following

                              R E P O R T

                     JURISDICTION OF THE COMMITTEE

    The jurisdiction of the Committee on Financial Services is 
set forth in clause 1(h) of rule X of the Rules of the House of 
Representatives for the 117th Congress, which reads, in 
pertinent part:

                   Rule X--Organization of Committees


             Committees and Their Legislative Jurisdictions

    1. There shall be in the House the following standing 
committees, each of which shall have the jurisdiction and 
related functions assigned by this clause and clauses 2, 3, and 
4. All bills, resolutions, and other matters relating to 
subjects within the jurisdiction of the standing committees 
listed in this clause shall be referred to those committees, in 
accordance with clause 2 of rule XII, as follows:
    * * *
    (h) Committee on Financial Services.
          (1) Banks and banking, including deposit insurance 
        and Federal monetary policy.
          (2) Economic stabilization, defense production, 
        renegotiation, and control of the price of commodities, 
        rents, and services.
          (3) Financial aid to commerce and industry (other 
        than transportation).
          (4) Insurance generally.
          (5) International finance.
          (6) International financial and monetary 
        organizations.
          (7) Money and credit, including currency and the 
        issuance of notes and redemption thereof; gold and 
        silver, including the coinage thereof; valuation and 
        revaluation of the dollar.
          (8) Public and private housing.
          (9) Securities and exchanges.
          (10) Urban development.

              RULES OF THE COMMITTEE ON FINANCIAL SERVICES

 In the Committee on Financial Services of the House of Representatives

                      117th Congress, 1st Session

                            February 3, 2021




                               RESOLUTION

                         Offered by Ms. Waters

    To adopt rules of the Committee on Financial services 
pursuant to clause 2 of Rule XI of the House of 
Representatives.
    Resolved, that the Rules of the Committee on Financial 
Services for the 117th Congress shall be:

                                 Rule 1

                           GENERAL PROVISIONS

    (a) The rules of the House are the rules of the Committee 
on Financial Services (hereinafter in these rules referred to 
as the ``Committee'') and its subcommittees so far as 
applicable, except that a motion to recess from day to day, and 
a motion to dispense with the first reading (in full) of a bill 
or resolution, if printed copies are available, are privileged 
motions in the Committee and shall be considered without 
debate. A proposed investigative or oversight report shall be 
considered as read if it has been available to the members of 
the Committee for at least 24 hours (excluding 
Saturdays,Sundays, or legal holidays except when the House is 
in session on such day).
    (b) Each subcommittee is a part of the Committee and is 
subject to the authority and direction of the Committee and to 
its rules so far as applicable.
    (c) The provisions of clause 2 of rule XI of the Rules of 
the House are incorporated by reference as the rules of the 
Committee to the extent applicable.

                                 Rule 2

                                MEETINGS

Calling of Meetings
    (a)(1) The Committee shall regularly meet on the first 
Tuesday of each month when the House is in session.
    (2) A regular meeting of the Committee may be dispensed 
with if, in the judgment of the Chair of the Committee, there 
is no need for the meeting.
    (3) Additional regular meetings and hearings of the 
Committee may be called by the Chair, in accordance with clause 
2(g)(3) of rule XI of the rules of the House.
    (4) Special meetings shall be called and convened by the 
Chair as provided in clause 2(c)(2) of rule XI of the Rules of 
the House.
Notice for Meetings
    (b)(1) The Chair shall notify each member of the Committee 
of the agenda of each regular meeting of the Committee at least 
three calendar days (excluding Saturdays, Sundays, and 
legalholidays except when the House is in session on any such 
day) before the time of the meeting.
    (2) The Chair shall provide to each member of the 
Committee, at least three calendar days (excluding Saturdays, 
Sundays, and legal holidays except when the House is in session 
on any such day) before the time of each regular meeting for 
each measure or matter on the agenda a copy of--
          (A) the measure or materials relating to the matter 
        in question; and
          (B) an explanation of the measure or matter to be 
        considered, which, in the case of an explanation of a 
        bill, resolution, or similar measure, shall include a 
        summary of the major provisions of the legislation, an 
        explanation of the relationship of the measure to 
        present law, and a summary of the need for the 
        legislation.
    (3) At least 24 hours prior to the commencement of a 
meeting for the markup of legislation, the Chair shall cause 
the text of such legislation to be made publicly available in 
electronic form.
    (4) The provisions of this subsection may be waived by a 
two- thirds vote of the Committee or by the Chair with the 
concurrence of the ranking minority member.

                                 Rule 3

                     MEETING AND HEARING PROCEDURES

In General 
    (a)(1) Meetings and hearings of the Committee shall be 
called to order and presided over by the Chair or, in the 
Chair's absence, by a member designated by the Chair to carry 
out such duties.
    (2) Meetings and hearings of the committee shall be open to 
the public unless closed in accordance with clause 2(g) of rule 
XI of the Rules of the House.
    (3) Any meeting or hearing of the Committee that is open to 
the public shall be open to coverage by television broadcast, 
radio broadcast, and still photography in accordance with the 
provisions of clause 4 of rule XI of the Rules of the House 
(which are incorporated by reference as part of these rules). 
Operation and use of any Committee operated broadcast system 
shall be fair and nonpartisan and in accordance with clause 
4(b) of rule XI and all other applicable rules of the Committee 
and the House.
    (4) To the extent feasible, members and witnesses may use 
the Committee equipment for the purpose of presenting 
information electronically during a meeting or hearing, 
provided the information is transmitted to the appropriate 
Committee staff in an appropriate electronic format at least 
one business day before the meeting or hearing so as to ensure 
display capacity and quality. The content of all materials must 
relate to the pending business of the Committee and conform to 
the rules of the House. The confidentiality of the material 
will be maintained by the technical staff until its official 
presentation to the Committee members. For the purposes of 
maintaining the official records of the committee, printed 
copies of all materials presented, to the extent practicable, 
must accompany the presentations.
    (5) No person, other than a Member of Congress, Committee 
staff, or an employee of a Member when that Member has an 
amendment under consideration, may stand in or be seated at the 
rostrum area of the Committee rooms unless the Chair determines 
otherwise.

Quorum

    (b)(1) For the purpose of taking testimony and receiving 
evidence, two members of the Committee shall constitute a 
quorum.
    (2) A majority of the members of the Committee shall 
constitute a quorum for the purposes of reporting any measure 
or matter, of authorizing a subpoena (other than a subpoena 
authorized and issued by the Chair pursuant to subsection 
(e)(1)), of closing a meeting or hearing pursuant to clause 
2(g) of rule XI of the rules of the House (except as provided 
in clause 2(g)(2)(A) and (B)) or of releasing executive session 
material pursuant to clause 2(k)(7) of rule XI of the rules of 
the House.
    (3) For the purpose of taking any action other than those 
specified in paragraph (2) one-third of the members of the 
Committee shall constitute a quorum.

Voting

    (c)(1) No vote may be conducted on any measure or matter 
pending before the Committee unless the requisite number of 
members of the Committee is actually present for such purpose.
    (2) A record vote of the Committee shall be provided on any 
question before the Committee upon the request of one-fifth of 
the members present.
    (3) No vote by any member of the Committee on any measure 
or matter may be cast by proxy.
    (4) In addition to any other requirement of these rules or 
the Rules of the House, including clause 2(e)(1)(B) of rule XI, 
the Chair shall make the record of the votes on any question on 
which a record vote is demanded publicly available in 
electronic form on the Committee's Web site not later than one 
business day after such vote is taken. Such record shall 
include in electronic form the text of the amendment, motion, 
order, or other proposition, the name of each member voting for 
and each member voting against such amendment, motion, order, 
or proposition, and the names of those members of the committee 
present but not voting. With respect to any record vote on any 
motion to report or record vote on any amendment, a record of 
such votes shall be included in the report of the Committee 
showing the total number of votes cast for and against and the 
names of those members of the committee present but not voting.
    (5) Postponed Record Votes.--(A) Subject to subparagraph 
(B), the Chair may postpone further proceedings when a record 
vote is ordered on the question of approving any measure or 
matter or adopting an amendment. The Chair may resume 
proceedings on a postponed request at any time, but no later 
than the next meeting day.
    (B) In exercising postponement authority under subparagraph 
(A), the Chair shall take all reasonable steps necessary to 
notify members on the resumption of proceedings on any 
postponed record vote.
    (C) When proceedings resume on a postponed question, 
notwithstanding any intervening order for the previous 
question, an underlying proposition shall remain subject to 
further debate or amendment to the same extent as when the 
question was postponed.
    (D) The Chair's authority to postpone recorded votes will 
not be used to prejudice a member with regard to the offering 
of another amendment. In the application of this rule, the 
Chair will consult regularly with the ranking minority member 
regarding the scheduling of the resumption of postponed votes.

Hearing Procedures

    (d)(1)(A) The Chair shall make public announcement of the 
date, place, and subject matter of any committee hearing at 
least one week before the commencement of the hearing, unless 
the Chair, with the concurrence of the ranking minority member, 
or the Committee by majority vote with a quorum present for the 
transaction of business, determines there is good cause to 
begin the hearing sooner, in which case the Chair shall make 
the announcement at the earliest possible date.
    (B) Not less than three days before the commencement of a 
hearing (excluding Saturdays, Sundays, and legal holidays 
except when the House is in session on any such day) announced 
under this paragraph, the Chair shall provide to the members of 
the Committee a concise summary of the subject of the hearing, 
or, in the case of a hearing on a measure or matter, a copy of 
the measure or materials relating to the matter in question and 
a concise explanation of the measure or matter to be 
considered. At the same time the Chair provides the information 
required by the preceding sentence, the Chair shall also 
provide to the members of the Committee a list of the witnesses 
expected to appear before the Committee at that hearing. The 
witness list may not be modified within 24 hours of a hearing, 
unless the Chair, with the concurrence of the ranking minority 
member, determines there is good cause for such modification.
    (2) To the greatest extent practicable--
          (A) each witness who is to appear before the 
        Committee shall file with the Committee two business 
        days in advance of the appearance sufficient copies 
        (including a copy in electronic form), as determined by 
        the Chair, of a written statement of proposed testimony 
        and shall limit the oral presentation to the Committee 
        to brief summary thereof; and
          (B) each witness appearing in a non-governmental 
        capacity shall include with the written statement of 
        proposed testimony a curriculum vitae, a disclosure of 
        the amount and source (by agency and program) of any 
        Federal grant (or subgrant thereof) or contract (or 
        subcontract thereof) received during the current fiscal 
        year or either of the two preceding fiscal years, and a 
        disclosure of whether the witness is a fiduciary 
        (including, but not limited to, a director, officer, 
        advisor, or resident agent) of any organization or 
        entity, that has an interest in the subject matter of 
        the hearing . Such disclosure statements, with 
        appropriate redactions to protect the privacy of the 
        witness, shall be made publicly available in electronic 
        form not later than one day after the witness appears.
    (3) The requirements of paragraph (2)(A) may be modified or 
waived by the Chair when the Chair determines it to be in the 
best interest of the Committee.
    (4)(A) Subject to subparagraph (B), the five-minute rule 
shall be observed in the interrogation of witnesses before the 
Committee or any of its subcommittees until each present member 
thereof has had an opportunity to question the witnesses. The 
Chair shall, so far as practicable, recognize alternately based 
on seniority of the majority and minority members present at 
the time the hearing was called to order and others based on 
their arrival at the hearing. The Chair shall, so far as 
practicable, defer to the Ranking Member with respect to the 
order of recognition for minority Members. No member shall be 
recognized for a second period of five minutes to interrogate 
witnesses until each present member of the Committee or such 
subcommittee has been recognized once for that purpose.
    (B) The Chair may permit a specified number of members to 
question one or more witnesses for a specified period of time 
not to exceed 60 minutes in the aggregate, equally divided 
between and controlled by the Chair and the ranking minority 
member.
    (5) Whenever any hearing is conducted by the Committee on 
any measure or matter, the minority party members of the 
Committee shall be entitled, upon the request of a majority of 
them before the completion of the hearing, to call witnesses 
with respect to that measure or matter during at least one day 
of hearing thereon. The Chair, with the concurrence of the 
ranking minority member, will determine the date, time, and 
place of such hearing.
    (6) At any hearing of the Committee, opening statements by 
members of the Committee shall be limited to 10 minutes in the 
aggregate. The Chair shall control five minutes and recognize 
members in the Chair's sole discretion. The ranking minority 
member shall control five minutes; the Chair shall recognize 
members for such time according to the direction of the ranking 
minority member as communicated to the Chair.
    (7) Notwithstanding any member's oral delivery of an 
opening statement, written opening statements by any member of 
the Committee submitted to the Chair within 5 legislative days 
after the adjournment of a hearing shall be made a part of the 
official hearing record thereof.

Subpoenas and Oaths

    (e)(1) The power to authorize and issue subpoenas is 
delegated to the Chair. Unless there are exigent circumstances, 
the Chair will provide written notice to the ranking minority 
member at least 48 hours in advance of the authorization and 
issuance of a subpoena, and such notice shall include a full 
copy of the proposed subpoena, including any proposed document 
schedule.
    (2) Authorized subpoenas shall be signed by the Chair or by 
any member designated by the Committee and may be served by any 
person designated by the Chair or such member. The Chair or any 
person designated by the Chair to serve a subpoena will copy 
the Ranking Minority Member or designated minority staff when a 
subpoena is issued and served electronically.
    (3) The Chair, or any member of the Committee designated by 
the Chair, may administer oaths to witnesses before the 
Committee.

                                 Rule 4


              PROCEDURES FOR REPORTING MEASURES OR MATTERS

    (a) No measure or matter shall be reported from the 
Committee unless a majority of the Committee is actually 
present.
    (b) The Chair of the Committee shall report or cause to be 
reported promptly to the House any measure approved by the 
Committee and take necessary steps to bring a matter to a vote.
    (c) The report of the Committee on a measure which has been 
approved by the Committee shall be filed within seven calendar 
days (exclusive of days on which the House is not in session) 
after the day on which there has been filed with the clerk of 
the Committee a written request, signed by a majority of the 
members of the Committee, for the reporting of that measure 
pursuant to the provisions of clause 2(b)(2) of rule XIII of 
the Rules of the House.
    (d) All reports printed by the Committee pursuant to a 
legislative study or investigation and not approved by a 
majority vote of the Committee shall contain the following 
disclaimer on the cover of such report: ``This report has not 
been officially adopted by the Committee on Financial Services 
and may not necessarily reflect the views of its Members.''
    (e) The Chair is directed to offer a motion under clause 1 
of rule XXII of the Rules of the House whenever the Chair 
considers it appropriate.

                                 Rule 5


                             SUBCOMMITTEES

Establishment and Responsibilities of Subcommittees

    (a)(1) There shall be six subcommittees of the Committee as 
follows:
          (A) Subcommittee on investor protection, 
        entrepreneurship, and capital markets.--The 
        jurisdiction of the Subcommittee on Investor 
        Protection, Entrepreneurship, and Capital Markets 
        includes--
                  (i) initiatives to protect investor interest 
                and to promote investor confidence in market 
                integrity;
                  (ii) securities, including retirement savings 
                plans and products, exchanges, and finance;
                  (iii) capital markets activities, including 
                securitization, business capital formation, 
                securities lending, and repurchase agreements;
                  (iv) investment companies, investment 
                advisers, and advisers to private funds;
                  (v) activities involving accounting and 
                auditing;
                  (vi) activities involving futures, forwards, 
                options, and other types of derivative 
                instruments;
                  (vii) the Securities and Exchange Commission;
                  (viii) the Financial Accounting Standards 
                Board;
                  (ix) the Municipal Securities Rulemaking 
                Board;
                  (x) the Public Company Accounting Oversight 
                Board;
                  (xi) the Securities Investor Protection 
                Corporation; and
                  (xii) self-regulatory organizations 
                registered with the Securities and Exchange 
                Commission.
          (B) Subcommittee on consumer protection and financial 
        institutions.--The jurisdiction of the Subcommittee on 
        Consumer Protection and Financial Institutions 
        includes--
                  (i) all agencies, including the Office of the 
                Comptroller of the Currency, the Federal 
                Deposit Insurance Corporation, the Board of 
                Governors of the Federal Reserve System and the 
                Federal Reserve System, and the National Credit 
                Union Administration, which directly or 
                indirectly exercise supervisory or regulatory 
                authority in connection with, or provide 
                deposit insurance for, financial institutions, 
                and the establishment of interest rate ceilings 
                on deposits;
                  (ii) all matters related to the Consumer 
                Financial Protection Bureau;
                  (iii) the chartering, branching, merger, 
                acquisition, consolidation, or conversion of 
                financial institutions;
                  (iv) consumer credit, including the provision 
                of consumer credit by insurance companies, and 
                further including those matters in the Consumer 
                Credit Protection Act dealing with truth in 
                lending, extortionate credit transactions, 
                restrictions on garnishments, fair credit 
                reporting and the use of credit information by 
                credit bureaus and credit providers, equal 
                credit opportunity, debt collection practices, 
                and electronic funds transfers, including 
                consumer transactions using mobile devices;
                  (v) creditor remedies and debtor defenses, 
                Federal aspects of the Uniform Consumer Credit 
                Code, credit and debit cards, and the 
                preemption of State usury laws;
                  (vi) consumer access to financial services, 
                including the Home Mortgage Disclosure Act and 
                the Community Reinvestment Act;
                  (vii) the terms and rules of disclosure of 
                financial services, including the 
                advertisement, promotion and pricing of 
                financial services, and availability of 
                government check cashing services;
                  (viii) deposit insurance;
                  (ix) consumer access to savings accounts and 
                checking accounts in financial institutions, 
                including lifeline banking and other consumer 
                accounts; and
                  (x) financial stability and systemic risk, 
                including all matters relating to the Financial 
                Stability Oversight Council and the Office of 
                Financial Research.
          (C) Subcommittee on housing, community development, 
        and insurance.--The jurisdiction of the Subcommittee on 
        Housing, Community Development, and Insurance 
        includes--
                  (i) housing (except programs administered by 
                the Department of Veterans Affairs), including 
                mortgage and loan insurance pursuant to the 
                National Housing Act; rural housing; housing 
                and homeless assistance programs; all 
                activities of the Government National Mortgage 
                Association; secondary market organizations for 
                home mortgages, including the Federal National 
                Mortgage Association, the Federal Home Loan 
                Mortgage Corporation, and the Federal 
                Agricultural Mortgage Corporation; the Federal 
                Housing Finance Agency; the Federal Home Loan 
                Banks; housing construction and design and 
                safety standards; housing-related energy 
                conservation; housing research and 
                demonstration programs; financial and technical 
                assistance for nonprofit housing sponsors; 
                housing counseling and technical assistance; 
                regulation of the housing industry (including 
                landlord/tenant relations); and real estate 
                lending including regulation of settlement 
                procedures;
                  (ii) community development and community and 
                neighborhood planning, training and research; 
                national urban growth policies; urban/rural 
                research and technologies; and regulation of 
                interstate land sales;
                  (iii) the qualifications for and designation 
                of Empowerment Zones and Enterprise Communities 
                (other than matters relating to tax benefits); 
                and
                  (iv) insurance generally, including but not 
                limited to, terrorism risk insurance, private 
                mortgage insurance, government sponsored 
                insurance programs, including those offering 
                protection against crime, fire, flood (and 
                related land use controls), earthquake and 
                other natural hazards, and the Federal 
                Insurance Office.
          (D) Subcommittee on national security, international 
        development, and monetary policy.--The jurisdiction of 
        the Subcommittee on National Security, International 
        Development, and Monetary Policy includes--
                  (i) financial aid to all sectors and elements 
                within the economy;
                  (ii) financial support networks of national 
                security threats, including matters related to 
                terrorist financing, money laundering, drug 
                sale proceeds, and alternative remittance 
                systems;
                  (iii) methods to detect and inhibit terrorism 
                and illicit finance, including matters related 
                to anti-money laundering and combating the 
                financing of terrorism (AML/CFT) standards, 
                asset forfeiture, and financial sanctions, as 
                well as programs related to such matters 
                administered by agencies or subunits thereof, 
                including activities of the Office of Terrorism 
                and Financial Intelligence and the Financial 
                Crimes Enforcement Network;
                  (iv) Inter-governmental initiatives to detect 
                and inhibit terrorism and illicit finance, 
                including the Financial Action Task Force;
                  (v) multilateral development lending 
                institutions, including activities of the 
                National Advisory Council on International 
                Monetary and Financial Policies as related 
                thereto, and monetary and financial 
                developments as they relate to the activities 
                and objectives of such institutions;
                  (vi) international trade, including but not 
                limited to the activities of the Export-Import 
                Bank;
                  (vii) the International Monetary Fund, its 
                permanent and temporary agencies, and all 
                matters related thereto;
                  (viii) international investment policies, 
                both as they relate to United States 
                investments for trade purposes by citizens of 
                the United States and investments made by all 
                foreign entities in the United States;
                  (ix) defense production matters as contained 
                in the Defense Production Act of 1950, as 
                amended;
                  (xi) economic growth and stabilization;
                  (xii) domestic monetary policy, and agencies 
                which directly or indirectly affect domestic 
                monetary policy, including the effect of such 
                policy and other financial actions on interest 
                rates, the allocation of credit, and the 
                structure and functioning of domestic financial 
                institutions;
                  (xiii) coins, coinage, currency, and medals, 
                including commemorative coins and medals, proof 
                and mint sets and other special coins, the 
                Coinage Act of 1965, gold and silver, including 
                the coinage thereof (but not the par value of 
                gold), gold medals, counterfeiting, currency 
                denominations and design, the distribution of 
                coins, and the operations of the Bureau of the 
                Mint and the Bureau of Engraving and Printing; 
                and
                  (xiv) development of new or alternative forms 
                of currency.
          (E) Subcommittee on diversity and inclusion.--The 
        jurisdiction of the Subcommittee on Diversity and 
        Inclusion includes--
                  (i) all matters related to diversity and 
                inclusion within all the agencies, departments, 
                programs, and entities within the jurisdiction 
                of the Committee, including workforce diversity 
                and inclusion, external or customer diversity 
                and inclusion, and supplier diversity;
                  (ii) the Offices of Minority and Women 
                Inclusion within the federal financial 
                agencies; and
                  (iv) methods, initiatives, and measures to 
                promote financial and economic inclusion for 
                all consumers.
          (F) Subcommittee on oversight and investigations.--
        The jurisdiction of the Subcommittee on Oversight and 
        Investigations includes--
                  (i) the oversight of all agencies, 
                departments, programs, matters, and entities, 
                within the jurisdiction of the Committee, 
                including the development of recommendations 
                with regard to the necessity or desirability of 
                enacting, changing, or repealing any 
                legislation within the jurisdiction of the 
                Committee, and for conducting investigations 
                within such jurisdiction; and
                  (ii) research and analysis regarding matters 
                within the jurisdiction of the Committee, 
                including the impact or probable impact of tax 
                policies affecting matters within the 
                jurisdiction of the Committee.
    (2) In addition, each such subcommittee shall have specific 
responsibility for such other measures or matters as the Chair 
refers to it.
    (3) Each subcommittee of the Committee shall review and 
study, on a continuing basis, the application, administration, 
execution, and effectiveness of those laws, or parts of laws, 
the subject matter of which is within its general 
responsibility.

Referral of Measures and Matters to Subcommittees

    (b)(1) The Chair may regularly refer to one or more 
subcommittees such measures and matters as the Chair deems 
appropriate given its jurisdiction and responsibilities. In 
making such a referral, the Chair may designate a subcommittee 
of primary jurisdiction and subcommittees of additional or 
sequential jurisdiction.
    (2) All measures or matters shall be subject to 
consideration by the full Committee.
    (3) In referring any measure or matter to a subcommittee, 
the Chair may specify a date by which the subcommittee shall 
report thereon to the Committee. (4) The Chair, in his or her 
sole discretion, may discharge a subcommittee from 
consideration of any measure or matter referred to a 
subcommittee of the Committee.

Composition of Subcommittees

    (c)(1) Members shall be elected to each subcommittee and to 
the positions of chair and ranking minority member thereof, in 
accordance with the rules of the respective party caucuses. The 
Chair of the Committee shall designate a member of the majority 
party on each subcommittee as its vice chair. The Chair may 
designate one member of the Committee who previously has served 
as the chair of the Committee as the Chair Emeritus.
    (2) The Chair and ranking minority member of the Committee 
shall be ex officio members with voting privileges of each 
subcommittee of which they are not assigned as members and may 
be counted for purposes of establishing a quorum in such 
subcommittees. The Chair Emeritus shall be an ex officio member 
without voting privileges of each subcommittee to which he or 
she is not assigned and shall not count for purposes of 
establishing a quorum in such subcommittees. (3) The 
subcommittees shall be comprised as follows:
          (A) The Subcommittee on Investor Protection, 
        Entrepreneurship, and Capital Markets, shall be 
        comprised of 22 members, 12 elected by the majority 
        caucus and 10 elected by the minority caucus.
          (B) The Subcommittee on Consumer Protection and 
        Financial Institutions shall be comprised of 22 
        members, 12 elected by the majority caucus and 10 
        elected by the minority caucus.
          (C) The Subcommittee on Housing, Community 
        Development, and Insurance shall be comprised of 20 
        members, 11 elected by the majority caucus and 9 
        elected by the minority caucus.
          (D) The Subcommittee on National Security, 
        International Development, and Monetary Policy shall be 
        comprised of 15 members, 8 elected by the majority 
        caucus and 7 elected by the minority caucus.
          (E) The Subcommittee on Diversity and Inclusion shall 
        be comprised of 15 members, 8 elected by the majority 
        caucus and 7 elected by the minority caucus.
          (F) The Subcommittee on Oversight and Investigations 
        shall be comprised of 12 members, 7 elected by the 
        majority caucus and 5 elected by the minority caucus.

Subcommittee Meetings and Hearings

    (d)(1) Each subcommittee of the Committee may be authorized 
at the sole direction of the Chair to meet, hold hearings, 
receive testimony, mark up legislation, and report to the full 
Committee on any measure or matter referred to it, consistent 
with subsection (a).
    (2) No subcommittee of the Committee may meet or hold a 
hearing at the same time as a meeting or hearing of the 
Committee.
    (3) The chair of each subcommittee shall set hearing and 
meeting dates only with the approval of the Chair with a view 
toward assuring the availability of meeting rooms and avoiding 
simultaneous scheduling of Committee and subcommittee meetings 
or hearings.

Effect of a Vacancy

    (e) Any vacancy in the membership of a subcommittee shall 
not affect the power of the remaining members to execute the 
functions of the subcommittee as long as the required quorum is 
present.

Records

    (f) Each subcommittee of the Committee shall provide the 
full Committee with copies of such records of votes taken in 
the subcommittee and such other records with respect to the 
subcommittee as the Chair deems necessary for the Committee to 
comply with all rules and regulations of the House.

                                 Rule 6


                                 STAFF

In General

    (a)(1) Except as provided in paragraph (2), the 
professional and other staff of the Committee shall be 
appointed, and may be removed by the Chair, and shall work 
under the general supervision and direction of the Chair.
    (2) All professional and other staff provided to the 
minority party members of the Committee shall be appointed, and 
may be removed, by the ranking minority member of the 
Committee, and shall work under the general supervision and 
direction of such member.
    (3) It is intended that the skills and experience of all 
members of the Committee staff be available to all members of 
the Committee.

Subcommittee Staff

    (b) From funds made available for the appointment of staff, 
the Chair of the Committee shall, pursuant to clause 6(d) of 
rule X of the Rules of the House, ensure that sufficient staff 
is made available so that each subcommittee can carry out its 
responsibilities under the rules of the Committee and that the 
minority party is treated fairly in the appointment of such 
staff.

Compensation of Staff

    (c)(1) Except as provided in paragraph (2), the Chair shall 
fix the compensation of all professional and other staff of the 
Committee.
    (2) The ranking minority member shall fix the compensation 
of all professional and other staff provided to the minority 
party members of the Committee.

                                 Rule 7


                           BUDGET AND TRAVEL

Budget

    (a)(1) The Chair, in consultation with other members of the 
Committee, shall prepare for each Congress a budget providing 
amounts for staff, necessary travel, investigation, and other 
expenses of the Committee and its subcommittees.
    (2) From the amount provided to the Committee in the 
primary expense resolution adopted by the House of 
Representatives, the Chair, after consultation with the ranking 
minority member, shall designate an amount to be under the 
direction of the ranking minority member for the compensation 
of the minority staff, travel expenses of minority members and 
staff, and minority office expenses. All expenses of minority 
members and staff shall be paid for out of the amount so set 
aside.

Travel

    (b)(1) The Chair may authorize travel for any member and 
any staff member of the Committee in connection with activities 
or subject matters under the general jurisdiction of the 
Committee.
    Before such authorization is granted, there shall be 
submitted to the Chair in writing the following:
          (A) The purpose of the travel.
          (B) The dates during which the travel is to occur.
          (C) The names of the States or countries to be 
        visited and the length of time to be spent in each.
          (D) The names of members and staff of the Committee 
        for whom the authorization is sought.
    (2) Members and staff of the Committee shall make a written 
report to the Chair on any travel they have conducted under 
this subsection, including a description of their itinerary, 
expenses, and activities, and of pertinent information gained 
as a result of such travel.
    (3) Members and staff of the Committee performing 
authorized travel on official business shall be governed by 
applicable laws, resolutions, and regulations of the House and 
of the Committee on House Administration.

                                 Rule 8


                        COMMITTEE ADMINISTRATION

Records

    (a)(1) There shall be a transcript made of each regular 
meeting and hearing of the Committee, and the transcript may be 
printed if the Chair decides it is appropriate or if a majority 
of the members of the Committee requests such printing. Any 
such transcripts shall be a substantially verbatim account of 
remarks actually made during the proceedings, subject only to 
technical, grammatical, and typographical corrections 
authorized by the person making the remarks. Nothing in this 
paragraph shall be construed to require that all such 
transcripts be subject to correction and publication.
    (2) The Committee shall keep a record of all actions of the 
Committee and of its subcommittees.
    The record shall contain all information required by clause 
2(e)(1) of rule XI of the Rules of the House and shall be 
available in electronic form and for public inspection at 
reasonable times in the offices of the Committee.
    (3) All Committee hearings, records, data, charts, and 
files shall be kept separate and distinct from the 
congressional office records of the Chair, shall be the 
property of the House, and all Members of the House shall have 
access thereto as provided in clause 2(e)(2) of rule XI of the 
Rules of the House.
    (4) The records of the Committee at the National Archives 
and Records Administration shall be made available for public 
use in accordance with rule VII of the Rules of the House of 
Representatives. The Chair shall notify the ranking minority 
member of any decision, pursuant to clause 3(b)(3) or clause 
4(b) of the rule, to withhold a record otherwise available, and 
the matter shall be presented to the Committee for a 
determination on written request of any member of the 
Committee.

Committee Publications on the Internet

    (b) The Chair shall maintain an official Committee website 
for the purpose of carrying out the official responsibilities 
of the Committee, including communicating information about the 
Committee's activities. The ranking minority member may 
maintain an official website. To the maximum extent feasible, 
the Committee shall make its publications available in 
electronic form on the official Committee website maintained by 
the Chair.

Audio and Video Coverage of Committee Hearings and Meetings

    (c)(1) To the maximum extent feasible, the Committee shall 
provide audio and video coverage of each hearing or meeting for 
the transaction of business in a manner that allows the public 
to easily listen to and view the proceedings; and,
    (2) maintain the recordings of such coverage in a manner 
that is easily accessible to the public.

MEMBERSHIP AND ORGANIZATION OF THE COMMITTEE ON FINANCIAL SERVICES ONE 
                    HUNDRED AND SEVENTEENTH CONGRESS

                    COMMITTEE ON FINANCIAL SERVICES

                             (Ratio: 30-24)

    MAXINE WATERS, California, 
            Chairwoman

PATRICK McHENRY, North Carolina,     CAROLYN B. MALONEY, New York
  Ranking Member                     NYDIA M. VELAZQUEZ, New York
FRANK D. LUCAS, Oklahoma             BRAD SHERMAN, California
PETE SESSIONS, Texas                 GREGORY W. MEEKS, New York
BILL POSEY, Florida                  DAVID SCOTT, Georgia
BLAINE LUETKEMEYER, Missouri         AL GREEN, Texas
BILL HUIZENGA, Michigan              EMANUEL CLEAVER, Missouri
ANN WAGNER, Missouri,                ED PERLMUTTER, Colorado
  Vice Ranking Member                JIM A. HIMES, Connecticut
ANDY BARR, Kentucky                  BILL FOSTER, Illinois
ROGER WILLIAMS, Texas                JOYCE BEATTY, Ohio
FRENCH HILL, Arkansas                JUAN VARGAS, California
TOM EMMER, Minnesota                 JOSH GOTTHEIMER, New Jersey
LEE M. ZELDIN, New York              VICENTE GONZALEZ, Texas
BARRY LOUDERMILK, Georgia            AL LAWSON, Florida
ALEXANDER X. MOONEY, West Virginia   MICHAEL SAN NICOLAS, Guam
WARREN DAVIDSON, Ohio                CINDY AXNE, Iowa
TED BUDD, North Carolina             SEAN CASTEN, Illinois
TREY HOLLINGSWORTH, Indiana          AYANNA PRESSLEY, Massachusetts
ANTHONY GONZALEZ, Ohio               RITCHIE TORRES, New York
JOHN ROSE, Tennessee                 STEPHEN F. LYNCH, Massachusetts
BRYAN STEIL, Wisconsin               ALMA ADAMS, North Carolina
LANCE GOODEN, Texas                  RASHIDA TLAIB, Michigan
WILLIAM TIMMONS, South Carolina      MADELEINE DEAN, Pennsylvania
VAN TAYLOR, Texas                    ALEXANDRIA OCASIO CORTEZ, New York
RALPH NORMAN, South Carolina         JESUS ``CHUY'' GARCIA, Illinois
                                     SYLVIA GARCIA, Texas
                                     NIKEMA WILLIAMS, Georgia
                                     JAKE AUCHINCLOSS, Massachusetts,
                                       Vice Chair
                        
                        SUBCOMMITTEE MEMBERSHIPS


   Subcommittee on Investor Protection, Entrepenurship, and Capital 
                                Markets


                             (Ratio: 14-12)


BRAD SHERMAN, California, Chairman

BILL HUIZENGA, Michigan,             CAROLYN B. MALONEY, New York
  Ranking Member                     DAVID SCOTT, Georgia
ANN WAGNER, Missouri                 JIM A. HIMES, Connecticut
FRENCH HILL, Arkansas                BILL FOSTER, Illinois
TOM EMMER, Minnesota                 GREGORY W. MEEKS, New York
ALEXANDER X. MOONEY, West Virginia   JUAN VARGAS, California
WARREN DAVIDSON, Ohio                JOSH GOTTHEIMER, New Jersey
TREY HOLLINGSWORTH, Indiana,         VICENTE GONZALEZ, Texas
  Vice Ranking Member                MICHAEL SAN NICOLAS, Guam
ANTHONY GONZALEZ, Ohio               CINDY AXNE, Iowa
BRYAN STEIL, Wisconsin               SEAN CASTEN, Illinois, Vice Chair
VAN TAYLOR, Texas                    EMANUEL CLEAVER, Missouri
PATRICK McHENRY, North Carolina      MAXINE WATERS, New York [Ex 
  [Ex Officio]                       Officio]

     Subcommittee on Consumer Protection and Financial Institutions


                             (Ratio: 14-11)


 ED PERLMUTTER, Colorado, Chairman

BLAINE LUETKEMEYER, Missouri,        GREGORY W. MEEKS, New York
  Ranking Member                     DAVID SCOTT, Georgia
FRANK D. LUCAS, Oklahoma             NYDIA M. VELAZQUEZ, New York
BILL POSEY, Florida                  BRAD SHERMAN, California
ANDY BARR, Kentucky                  AL GREEN, Texas
ROGER WILLIAMS, Texas                BILL FOSTER, Illinois
BARRY LOUDERMILK, Georgia            JUAN VARGAS, California
TED BUDD, North Carolina             AL LAWSON, Florida
JOHN ROSE, Tennessee                 MICHAEL SAN NICOLAS, Guam
WILLIAM TIMMONS, South Carolina      SEAN CASTEN, Illinois
RALPH NORMAN, South Carolina         AYANNA PRESSLEY, Massachusetts,
PATRICK McHENRY, North Carolina        Vice Chair
  [Ex Officio]                       RITCHIE TORRES, New York
                                     MAXINE WATERS, New York [Ex 
                                     Officio]

     Subcommittee on Housing, Community Development, and Insurance
                             (Ratio: 12-10)

    EMANUEL CLEAVER, Missouri, 
             Chairman

FRENCH HILL, Arkansas, Ranking MemberNYDIA M. VELAZQUEZ, New York
BILL POSEY, Florida                  BRAD SHERMAN, California
BILL HUIZENGA, Michigan              JOYCE BEATTY, Ohio
LEE M. ZELDIN, New York              AL GREEN, Texas
TREY HOLLINGSWORTH, Indiana          VICENTE GONZALEZ, Texas
JOHN ROSE, Tennessee                 CAROLYN B. MALONEY New York
BRYAN STEIL, Wisconsin,              JUAN VARGAS, California
  Vice Ranking Member                AL LAWSON, Florida
LANCE GOODEN, Texas                  CINDY AXNE, Iowa, Vice Chair
VAN TAYLOR, Texas                    RITCHIE TORRES, New York
PATRICK McHENRY, North Carolina      MAXINE WATERS, New York [Ex 
  [Ex Officio]                       Officio]

   Subcommittee on National Security, International Development, and 
                            Monetary Policy


                             (Ratio: 10-8)


    JIM A. HIMES, Connecticut, 
             Chairman

ANDY BARR, Kentucky, Ranking Member  JOSH GOTTHEIMER, New Jersey,
PETE SESSIONS, Texas                   Vice Chair
ROGER WILLIAMS, Texas                MICHAEL SAN NICOLAS, Guam
FRENCH HILL, Arkansas                RITCHIE TORRES, New York
LEE M. ZELDIN, New York              STEPHEN F. LYNCH, Massachusetts
WARREN DAVIDSON, Ohio                MADELEINE DEAN, Pennsylvania
ANTHONY GONZALEZ, Ohio               ALEXANDRIA OCASIO CORTEZ, New York
PATRICK McHENRY, North Carolina      JESUS ``CHUY'' GARCIA, Illinois
  [Ex Officio]                       JAKE AUCHINCLOSS, Massachusetts
                                     MAXINE WATERS, New York [Ex 
                                     Officio]

                Subcommittee on Diversity and Inclusion


                              (Ratio: 9-8)


     JOYCE BEATTY, Ohio, Chair

ANN WAGNER, Missouri, Ranking Member AYANNA PRESSLEY, Massachusetts
FRANK D. LUCAS, Oklahoma             STEPHEN F. LYNCH, Massachusetts
TED BUDD, North Carolina             RASHIDA TLAIB, Michigan
ANTHONY GONZALEZ, Ohio,              MADELEINE DEAN, Pennsylvania
  Vice Ranking Member                SYLVIA GARCIA, Texas, Vice Chair
JOHN ROSE, Tennessee                 NIKEMA WILLIAMS, Georgia
LANCE GOODEN, Texas                  JAKE AUCHINCLOSS, Massachusetts
WILLIAM TIMMONS, South Carolina      MAXINE WATERS, New York [Ex 
PATRICK McHENRY, North Carolina      Officio]
  [Ex Officio]

              Subcommittee on Oversight and Investigations


                              (Ratio: 8-6)


     AL GREEN, Texas, Chairman

TOM EMMER, Minnesota, Ranking Member EMANUEL CLEAVER, Missouri
BARRY LOUDERMILK, Georgia            ALMA ADAMS, North Carolina
ALEXANDER X. MOONEY, West Virginia   RASHIDA TLAIB, Michigan
WILLIAMS TIMMONS, South Carolina,    JESUS ``CHUY'' GARCIA, Illinois
  Vice Ranking Member                SYLVIA GARCIA, Texas
RALPH NORMAN, South Carolina         NIKEMA WILLIAMS, Georgia, Vice 
PATRICK McHENRY, North Carolina      Chair
  [Ex Officio]                       MAXINE WATERS, New York [Ex 
                                     Officio]

                 Task Force on Artificial Intelligence


                              (Ratio: 8-6)


  BILL FOSTER, Illinois, Chairman

ANTHONY GONZALEZ, Ohio,              BRAD SHERMAN, California
  Ranking Member                     SEAN CASTEN, Illinois
BARRY LOUDERMILK, Georgia            AYANNA PRESSLEY, Massachusetts
TED BUDD, North Carolina             ALMA ADAMS, North Carolina
TREY HOLLINGSWORTH, Indiana          SYLVIA GARCIA, Texas
VAN TAYLOR, Texas                    JAKE AUCHINCLOSS, Massachusetts
PATRICK McHENRY, North Carolina      MAXINE WATERS, California [Ex 
  [Ex Officio]                       Officio]

                   Task Force on Financial Technology


                              (Ratio: 8-6)


 STEPHEN F. LYNCH, Massachusetts, 
             Chairman

WARREN DAVIDSON, Ohio,               JIM A. HIMES, Connecticut
  Ranking Member                     JOSH GOTTHEIMER, New Jersey
PETE SESSIONS, Texas                 AL LAWSON, Florida
BLAINE LUETKEMEYER, Missouri         MICHAEL SAN NICOLAS, Guam
TOM EMMER, Minnesota                 RITCHIE TORRES, New York
BRYAN STEIL, Wisconsin               NIKEMA WILLIAMS, Georgia
PATRICK McHENRY, North Carolina      MAXINE WATERS, California [Ex 
  [Ex Officio]                       Officio]

                            Membership Notes

     Mr. Taylor was elected to the Committee in April 2021, filling a 
vacancy created by the resignation of Mr. Stivers from the Committee.
    Mr. Norman was elected to the Committee in June 2022, filling a 
vacancy created by the resignation of Mr. Kustoff from the Committee.

                            COMMITTEE STAFF


                             Majority Staff


         CHARLA OUERTATANI
          Staff Director
        KRISTOFOR ERICKSON
       Deputy Staff Director
           ESTHER KAHNG
           Chief Counsel
           BRYAN MEDEMA
       General Counsel and 
          Parliamentarian
 MELISSA ANOH, Professional Staff
 COLIN ANONSEN, Professional Staff
   LEVON BAGRAMIAN, Director of 
          Capital Markets
 CHRISTINE BALTAZAR, Professional 
      Staff and Investigator
  SARAH BASSET, Research Director
  SCOTT BELL, Professional Staff
   ERIN BUTLER, Staff Assistant
     TAMARA CESARETTI, Counsel
     CHELSEA CRITTLE, Senior 
     Professional Staff Member
 ELIZABETH DE LOS REYES, Research 
             Assistant
 PATRICK FERGUSON, Senior Counsel
 ALIA FIERRO, Director of Housing 
              Policy
      ALFRED FORMAN, Systems 
           Administrator
  OLUWAKEMI GIWA, Communications 
             Director
     RYAN LICHTENFELS, Counsel
DANIELLE CAMNER LINDHOLM, Director 
       of National Security
    MARCOS MANOSALVAS, Digital 
             Director
 DANIELE MCGLINCHEY, Director of 
       International Affairs
   VICTORIA SMITH PARKER, Staff 
             Assistant
   KYLIE PATTERSON, Director of 
      Diversity and Inclusion
 GEOFFREY PREUDHOMME, Jr., Press 
             Assistant
    ROBERT ROACH, Director of 
    Oversight & Investigations
   DENISE SCOTT, Financial and 
      Administrative Officer
 GLEN SEARS, Director of Consumer 
     Protection and Financial 
        Institutions Policy
PETRINA THOMAS, Director of Member 
             Services
  AGATHA SO, Senior Professional 
               Staff
  JUSTIN FRANKLIN THORNTON, Clerk
  TERRIE ALLISON, Document Editor

                             Minority Staff


 MATTHEW HOFFMANN, Staff Director
KIM BETZ, Chief Counsel and Policy 
             Director
STACY BAKER, Systems Administrator
    WILL BARRY, Press Secretary
  ALLISON BEHUNIAK, Professional 
           Staff Member
      LUCAS BEIRNE, Detailee
   MCARN BENNETT, Senior Counsel
    MICHAEL CASE, Professional 
          Oversight Staff
ANTHONY CHANG, Senior Professional 
           Staff Member
 CONNOR DUNN, Senior Professional 
           Staff Member
PATRICIA HALLORAN, Staff Assistant
 BRIGHTON HASLETT, Senior Counsel
 RACHEL KALDAHL, Chief Oversight 
              Counsel
      MICHAEL LUCIA, Counsel
     JESS MCFAUL, Speechwriter
     KATHLEEN PALMER, Senior 
     Professional Staff Member
   LAURA PEAVEY, Communications 
             Director
  PHIL POE, Senior Professional 
           Staff Member
 LINDSEY SHACKELFORD, Director of 
            Operations
   WILL SHANNON, Policy Analyst
EDWARD SKALA, Senior Professional 
           Staff Member
   KYLE SMITHWICK, Deputy Chief 
         Oversight Counsel
    NICHOLLE VO, Senior Counsel
                OVERVIEW OF LEGISLATIVE ACCOMPLISHMENTS

    During the 117th Congress, 894 bills were referred to the 
Committee on Financial Services, with 293 measures considered 
at legislative hearings. The full Committee ordered reported 69 
bills to the House of Representatives, and the House passed 96 
measures which had provisions within the Committee's 
jurisdiction, with a number being incorporated into other 
legislation. Thirty-two measures which had provisions within 
the Committee's jurisdiction were enacted into law, with a 
number being incorporated into other legislation. The following 
is a summary of the legislative activities of the Committee on 
Financial Services during the 117th Congress. Appendix I has a 
list of Committee Reports on legislation ordered reported by 
the Committee. Appendix II has a list of Public Laws, including 
a list of all bills that were incorporated into those 
measures.*

    *Certain statistics in this paragraph and entries in the table 
below are dependent on Presidential actions upon presentation of 
legislation to the President which will occur after submission of this 
report.

 
----------------------------------------------------------------------------------------------------------------
                                                     Date                                Committee/Legislative
         H.R. #                   Title           Introduced          Sponsor                   Action
----------------------------------------------------------------------------------------------------------------
H.R. 166...............  Fair Lending for All    ...........  Green, Al [D-TX-9]....  6/15/2022--Passed the
                          Act.                                                         House 215-207 as part of
                                                                                       H.R. 2543.
H.R. 935...............  Small Business             2/8/2021  Representative          7/29/2021--Ordered
                          Mergers,                             Huizenga, Bill [R-MI-   reported as amended by
                          Acquisitions, Sales,                 2].                     the Committee by Voice
                          and Brokerage                                                Vote.
                          Simplification Act of                                       5/11/2022--Passed the
                          2021.                                                        House by a vote of 419-0.
                                                                                      12/22/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       2617 by a vote of 68-29.
                                                                                      12/23/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       2617 by a vote of 225-
                                                                                       201, 1 present.
                                                                                      12/29/2022--Signed by the
                                                                                       President.
H.R. 1057..............  Greatest Generation       2/15/2021  Representative Kaptur,  7/26/2022--Passed the
                          Commemorative Coin                   Marcy [D-OH-9].         House on a Voice Vote.
                          Act.                                                        7/27/2022--Passed the
                                                                                       Senate on a Voice Vote.
                                                                                      8/3/2022--Became Public
                                                                                       Law No. 117-162.
H.R. 1085..............  To award three            2/18/2021  Representative Pelosi,  3/17/2021--Passed the
                          congressional gold                   Nancy [D-CA].           House by a vote of 413-
                          medals to the United                                         12.
                          States Capitol Police
                          and those who
                          protected the U.S.
                          Capitol on January 6,
                          2021.
H.R. 1087..............  Shareholder Political     2/18/2021  Representative Foster,  4/21/2021--Ordered
                          Transparency Act of                  Bill [D-IL-11].         reported as amended by
                          2021.                                                        the Committee by a vote
                                                                                       of 28-23.
                                                                                      6/16/2021--Passed the
                                                                                       House by a vote of 215-
                                                                                       214 as part of H.R. 1187.
H.R. 1187..............  ESG Disclosure            2/18/2021  Representative Vargas,  6/8/2021--Ordered reported
                          Simplification Act of                Juan [D-CA-51].         as amended by the
                          2021.                                                        Committee by a vote of 28-
                                                                                       22.
                                                                                      6/16/2021--Passed the
                                                                                       House by a vote of 215-
                                                                                       214.
H.R. 1188..............  Greater Accountability    2/18/2021  Representative          5/12/2021--Ordered
                          in Pay Act.                          Velazquez, Nydia M.     reported as amended by
                                                               [D-NY-7].               the Committee by a vote
                                                                                       of 29-23.
                                                                                      6/16/2021--Passed the
                                                                                       House by a vote of 215-
                                                                                       214 as part of H.R. 1187.
H.R. 1277..............  Improving Corporate       2/24/2021  Representative Meeks,   4/21/2022--Ordered
                          Governance Through                   Gregory W. [D-NY-5].    reported as amended by
                          Diversity Act of 2021.                                       the Committee by a voice
                                                                                       vote.
                                                                                      6/15/2022--Passed the
                                                                                       House 215-207 as part of
                                                                                       H.R. 2543 .
H.R. 1319..............  American Rescue Plan      2/24/2021  Representative          2/27/2021--Passed the
                          of 2021.                             Yarmuth, John A. [D-    House by a vote of 219-
                                                               KY-3].                  212.
                                                                                      3/6/2021--Passed the
                                                                                       Senate by a vote of 50-
                                                                                       49.
                                                                                      3/10/2021--Passed the
                                                                                       House by a vote of 220-
                                                                                       221.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 1395..............  Housing Financial         2/26/2021  Representative Beatty,  4/20/2021--Passed the
                          Literacy Act of 2021.                Joyce [D-OH-3].         House by a voice vote.
H.R. 1443..............  LGBTQ Business Equal      2/26/2021  Representative Torres,  5/12/2021--Ordered
                          Credit Enforcement                   Ritchie [D-NY-15].      reported as amended by
                          and Investment Act.                                          the Committee by a voice
                                                                                       vote.
                                                                                      6/15/2022--Passed the
                                                                                       House on a vote of 248-
                                                                                       177.
H.R. 1491..............  Fair Debt Collection       3/2/2021  Representative Dean,    4/20/2021--Passed the
                          for Servicemembers                   Madeleine [D-PA-4].     House by a voice vote.
                          Act.                                                        5/13/2021--Passed the
                                                                                       House 215-207 as part of
                                                                                       H.R. 2547.
H.R. 1528..............  Promoting Transparent      3/2/2021  Representative Waters,  4/20/2021--Passed the
                          Standards for                        Maxine [D-CA-43].       House by a voice vote.
                          Corporate Insiders
                          Act.
H.R. 1532..............  Improving FHA Support      3/3/2021  Representative Tlaib,   4/20/2021--Passed the
                          for Small-Dollar                     Rashida [D-MI-13].      House by a voice vote.
                          Mortgages Act of 2020.
H.R. 1565..............  Senior Security Act of     3/3/2021  Representative          4/20/2021--Passed the
                          2021.                                Gottheimer, Josh [D-    House by a voice vote.
                                                               NJ-5].
H.R. 1602..............  Eliminate Barriers to      3/8/2021  Representative          4/20/2021--Passed the
                          Innovation Act of                    McHenry, Patrick [R-    House by a voice vote.
                          2021.                                NC].
H.R. 1657..............  Ending Debt Collection     3/8/2021  Representative          5/13/2021--Passed the
                          Harassment Act of                    Pressley, Ayanna [D-    House 215-207 as part of
                          2021.                                MA-7].                  H.R. 2547.
H.R. 1669..............  State Small Business       3/9/2021  Representative Green,   3/10/2021--Passed the
                          Credit Initiative                    Al [D-TX-9].            House 220-210 as part of
                          Renewal Act.                                                 H.R. 1319.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 1682..............  Stabilizing Rural          3/9/2021  Representative          3/10/2021--Passed the
                          Homeowners During                    Cleaver, Emanuel [D-    House 220-210 as part of
                          COVID Act of 2021.                   MO-5].                  H.R. 1319.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 1706..............  Emergency Homelessness     3/9/2021  Representative          3/10/2021--Passed the
                          Assistance Act of                    Pressley, Ayanna [D-    House 220-210 as part of
                          2021.                                MA-7].                  H.R. 1319.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 1710..............  Coronavirus Homeowner      3/9/2021  Representative Scott,   3/10/2021--Passed the
                          Assistance Act of                    David [D-GA-13].        House 220-210 as part of
                          2021.                                                        H.R. 1319.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 1711..............  The Financial              3/9/2021  Representative Scott,   5/18/2021--Passed the
                          Inclusion in Banking                 David [D-GA-13].        House 350-75.
                          Act of 2021.
H.R. 1719..............  Emergency Tribal           3/9/2021  Representative Vargas,  3/10/2021--Passed the
                          Housing Assistance                   Juan [D-CA-51].         House 220-210 as part of
                          Act of 2021.                                                 H.R. 1319.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
                                                                                      5/18/2021--Passed the
                                                                                       House on a vote of 350-
                                                                                       75.
H.R. 1720..............  COVID-19 Medical           3/9/2021  Representative Vargas,  3/10/2021--Passed the
                          Production Act.                      Juan [D-CA-51].         House 220-210 as part of
                                                                                       H.R. 1319.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 1724..............  Emergency Housing          3/9/2021  Representative Waters,  3/10/2021--Passed the
                          Voucher Act of 2021.                 Maxine [D-CA-43].       House 220-210 as part of
                                                                                       H.R. 1319.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 1725..............  Emergency Assistance       3/9/2021  Representative Waters,  3/10/2021--Passed the
                          for Renters Act of                   Maxine [D-CA-43].       House 220-210 as part of
                          2021.                                                        H.R. 1319.
                                                                                      3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 1842..............  Harriet Tubman            3/11/2021  Representative Meeks,   7/26/2022--Passed the
                          Bicentennial                         Gregory W. [D-NY-5].    House by a voice vote.
                          Commemorative Coin                                          7/27/2022--Passed the
                          Act.                                                         Senate by a voice vote.
                                                                                      8/3/2022--Became Public
                                                                                       Law 117-163.
H.R. 1996..............  SAFE Banking Act of       3/18/2021  Representative          4/19/2021--Passed the
                          2021.                                Perlmutter, Ed [D-CO-   House 321-101.
                                                               7].
H.R. 2123..............  Diversity and             3/23/2021  Representative Beatty,  4/21/2021--Ordered
                          Inclusion Data                       Joyce [D-OH-3].         reported as amended by
                          Accountability and                                           the Committee by a vote
                          Transparency Act.                                            of 30-23.
                                                                                      6/15/2022--Passed the
                                                                                       House 215-207 as part of
                                                                                       H.R. 2543.
H.R. 2265..............  Financial Exploitation    3/26/2021  Representative Wagner,  7/29/2021--Ordered
                          Prevention Act of                    Ann [R-MO].             reported as amended by
                          2021.                                                        the Committee by voice
                                                                                       vote.
                                                                                      10/25/2021--Passed the
                                                                                       House by a voice vote.
H.R. 2311..............  Credit Union               4/1/2021  Representative Emmer,   6/29/2021--Passed the
                          Governance                           Tom [R-MN].             House 366-46 as part of
                          Modernization Act of                                         H.R. 2471.
                          2021.                                                       11/16/2021--Ordered
                                                                                       reported as amended by
                                                                                       the Committee by a voice
                                                                                       vote.
                                                                                      1/13/2022--Passed the
                                                                                       Senate on a voice vote.
                                                                                      3/9/2022--House passed
                                                                                       Senate Amendment on a
                                                                                       voice vote.
                                                                                      3/10/2022--Senate passed
                                                                                       House Amendment 68-31.
                                                                                      3/15/2022--Became Public
                                                                                       Law 117-103.
H.R. 2332..............  Debt Bondage Repair        4/1/2021  Representative          6/15/2021--Passed the
                          Act.                                 McHenry, Patrick [R-    House 287-140.
                                                               NC].                   12/7/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 363-70.
                                                                                      12/15/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 88-11.
                                                                                      12/27/2021--Became Public
                                                                                       Law 117-81.
H.R. 2458..............  Non-Judicial              4/13/2021  Representative          5/13/2021--Passed the
                          Foreclosure Debt                     Auchincloss, Jake [D-   House 215-207 as part of
                          Collection                           MA-4].                  H.R. 2547.
                          Clarification Act.
H.R. 2498..............  Private Loan              4/14/2021  Representative Dean,    5/13/2021--Passed the
                          Disability Discharge                 Madeleine [D-PA-4].     House 215-207 as part of
                          Act of 2021.                                                 H.R. 2547.
H.R. 2537..............  Consumer Protection       4/14/2021  Representative Tlaib,   5/13/2021--Passed the
                          for Medical Debt                     Rashida [D-MI-13].      House 215-207 as part of
                          Collections Act.                                             H.R. 2547.
H.R. 2540..............   The ``Small Business     4/14/2021  Representative          5/13/2021--Passed the
                          Lending Fairness                     Velazquez, Nydia M.     House 215-207 as part of
                          Act''.                               [D-NY-7].               H.R. 2547.
H.R. 2543..............  Federal Reserve Racial    4/14/2021  Representative Waters,  4/21/2021--Ordered
                          and Economic Equity                  Maxine [D-CA-43].       reported as amended by
                          Act.                                                         the Committee by a vote
                                                                                       of 30-23.
                                                                                      6/15/2022--Passed the
                                                                                       House 215-207.
H.R. 2547..............  Comprehensive Debt        4/15/2021  Representative Waters,  5/13/2021--Passed the
                          Collection                           Maxine [D-CA-43].       House 215-207 as part of
                          Improvement Act.                                             H.R. 2547.
H.R. 2570..............  Climate Risk              4/15/2021  Representative Casten,  5/12/2021--Ordered
                          Disclosure Act of                    Sean [D-IL-5].          reported as amended by
                          2021.                                                        the Committee by a vote
                                                                                       of 28-24.
                                                                                      6/16/2021--Passed the
                                                                                       House by a vote of 215-
                                                                                       214 as part of H.R. 1187.
H.R. 2572..............  Stop Debt Collection      4/15/2021  Representative          5/13/2021--Passed the
                          Abuse Act.                           Cleaver, Emanuel [D-    House 215-207 as part of
                                                               MO-5].                  H.R. 2547.
H.R. 2628..............  Debt Collection           4/16/2021  Representative Meeks,   5/13/2021--Passed the
                          Practices                            Gregory W. [D-NY-5].    House 215-207 as part of
                          Harmonization Act.                                           H.R. 2547.
H.R. 2689..............  Minority Business         4/20/2021  Representative Green,   6/23/2021--Ordered
                          Resiliency Act.                      Al [D-TX-9].            reported as amended by
                                                                                       the Committee by a vote
                                                                                       of 28-23.
                                                                                      7/1/2021--Passed the House
                                                                                       221-201 as part of H.R.
                                                                                       3684.
                                                                                      8/10/2021--Passed the
                                                                                       Senate 69-30.
                                                                                      11/5/2021--Senate
                                                                                       Amendment passed by House
                                                                                       228-206.
                                                                                      11/15/2021--Became Public
                                                                                       Law 117-58.
H.R. 2710..............  Banking Transparency      4/20/2021  Representative Steil,   6/8/2022--Passed the House
                          for Sanction Persons                 Bryan [R-WI-1].         as part of H.R. 7776 by a
                          Act of 2021.                                                 vote of 384-37.
                                                                                      7/28/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 93-1.
                                                                                      9/28/2022--Passed the
                                                                                       House by voice vote.
                                                                                      12/8/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       7776 by a vote of 350-80.
                                                                                      12/15/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 83-11.
                                                                                      12/27/2022--Became Public
                                                                                       Law 117-263.
H.R. 2959..............  COVID-19 Fraud             5/4/2021  Representative Axne,    5/18/2021--Passed the
                          Prevention Act.                      Cynthia [D-IA-3].       House by a voice vote.
                                                                                      6/8/2022--Passed the House
                                                                                       as part of H.R. 7776 by a
                                                                                       vote of 384-37.
                                                                                      7/28/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 93-1.
                                                                                      12/8/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       7776 by a vote of 350-80.
                                                                                      12/15/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 83-11.
                                                                                      12/27/2022--Became Public
                                                                                       Law 117-263.
H.R. 2989..............  Financial Transparency     5/4/2021  Representative          10/26/2021--Passed the
                          Act of 2021.                         Maloney, Carolyn B.     House by a vote of 400-
                                                               [D-NY-12].              19.
H.R. 3007..............  Disclosure of Tax          5/7/2021  Representative Axne,    5/12/2021--Ordered
                          Havens and Offshoring                Cynthia [D-IA-3].       reported as amended by
                          Act.                                                         the Committee by a vote
                                                                                       of 28-23.
                                                                                      6/16/2021--Passed the
                                                                                       House by a vote of 215-
                                                                                       214 as part of H.R. 1187.
H.R. 3008..............  The Homebuyer              5/7/2021  Representative          5/18/2021--Passed the
                          Assistance Act of                    Sherman, Brad [D-CA-    House by a vote of 350-
                          2021.                                30].                    75.
H.R. 3094..............  Treasury Human            5/11/2021  Representative Dean,    9/23/2021--Passed the
                          Trafficking                          Madeleine [D-PA-4].     House 316-113 as part of
                          Coordinator Act.                                             H.R. 4350.
H.R. 3125..............  COVID-19 Emergency        5/11/2021  Representative Vargas,  5/18/2021--Passed the
                          Medical Supplies                     Juan [D-CA-51].         House by a voice vote.
                          Enhancement Act of
                          2021.
H.R. 3146..............  SAVE Act of 2021......    5/12/2021  Representative Hill,    5/18/2021--Passed the
                                                               French [R-AR-2].        House by a voice vote.
H.R. 3325..............  To award four             5/19/2021  Representative Pelosi,  6/15/2021--Passed the
                          congressional gold                   Nancy [D-CA].           House by a vote of 406-
                          medals to the United                                         21.
                          States Capitol Police                                       8/3/2021--Passed the
                          and those who                                                Senate by a voice vote.
                          protected the U.S.                                          8/5/2021--Became Public
                          Capitol on January 6,                                        Law 117-32.
                          2021.
H.R. 3555..............  Voters on the Move        5/25/2021  Representative          7/29/2021--Ordered
                          Registration Act.                    Williams, Nikema [D-    reported as amended by
                                                               GA].                    the Committee by a vote
                                                                                       of 28-23.
H.R. 3642..............   Harlem Hellfighters      5/28/2021  Representative Suozzi,  6/15/2021--Passed the
                          Congressional Gold                   Thomas [D-NY].          House by a vote of 287-
                          Medal Act.                                                   140.
                                                                                      8/9/2021--Passed the
                                                                                       Senate by a voice vote.
                                                                                      8/25/2021--Became Public
                                                                                       Law 117-38.
H.R. 4111..............  Sovereign Debt            6/23/2021  Representative Waters,  9/23/2021--Passed the
                          Contract Capacity Act.               Maxine [D-CA-43].       House as part of H.R.
                                                                                       4350 by a vote of 316-
                                                                                       113.
                                                                                      10/25/2021--Passed the
                                                                                       House by a vote of 391-
                                                                                       29.
                                                                                      12/7/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 363-70.
                                                                                      12/15/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 88-11.
                                                                                      12/27/2021--Became Public
                                                                                       Law 117-81.
H.R. 4227..............  Developing and            6/29/2021  Representative          7/26/2022--Passed the
                          Empowering our                       Hollingsworth, Trey     House by a voice vote.
                          Aspiring Leaders Act                 [R-IN-9].
                          of 2021.
H.R. 4493..............  Promoting Secure 5G       7/16/2021  Representative          9/23/2021--Passed the
                          Act of 2021.                         Timmons, William [R-    House 316-113 as part of
                                                               SC].                    H.R. 4350.
H.R. 4586..............  Risk-Based Credit         7/21/2021  Representative Wagner,  6/22/2022--Ordered
                          Examination Act.                     Ann [R-MO].             reported as amended by
                                                                                       the Committee by a voice
                                                                                       vote.
                                                                                      7/26/2022--Passed the
                                                                                       House by a voice vote.
H.R. 4590..............  Promoting New and         7/21/2021  Representative          7/29/2021--Ordered
                          Diverse Depository                   Auchincloss, Jake [D-   reported as amended by
                          Institutions Act.                    MA-4].                  the Committee by a voice
                                                                                       vote.
                                                                                      6/15/2022--Passed the
                                                                                       House 215-207 as part of
                                                                                       H.R. 2543.
H.R. 4616..............  Adjustable Interest       7/22/2021  Representative          6/29/2021--Passed the
                          Rate (LIBOR) Act of                  Sherman, Brad [D-CA-    House 366-46 as part of
                          2021.                                30].                    H.R. 2471.
                                                                                      1/13/2022--Passed the
                                                                                       Senate on a voice vote.
                                                                                      3/9/2022--House passed
                                                                                       Senate Amendment on a
                                                                                       voice vote.
                                                                                      3/10/2022--Senate passed
                                                                                       House Amendment 68-31.
                                                                                      3/15/2022--Became Public
                                                                                       Law 117-103.
H.R. 4493..............  Promoting Secure 5G       7/16/2021  Rep. Timmons, William   12/7/2021--Passed the
                          Act of 2021.                         R. IV [R-SC-4].         Senate as part of S. 1605
                                                                                       by a vote of 363-70.
                                                                                      12/15/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 88-11.
                                                                                      12/27/2021--Became Public
                                                                                       Law 117-81.
H.R. 4865..............  Registration for Index-   7/30/2021  Representative Adams,   7/27/2022--Ordered
                          Linked Annuities Act.                Alma S. [D-NC-12].      reported as amended by
                                                                                       the Committee by a voice
                                                                                       vote.
                                                                                      12/22/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       2617 by a vote of 68-29.
                                                                                      12/23/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       2617 by a vote of 225-
                                                                                       201, 1 present.
                                                                                      12/29/2022--Signed by the
                                                                                       President.
H.R. 5128..............  Expanding Access to       8/31/2021  Representative Axne,    7/26/2022--Passed the
                          Capital for Rural Job                Cynthia [D-IA-3].       House by a voice vote.
                          Creators Act.
H.R. 5142..............  To award posthumously     8/31/2021  Representative          10/25/2021--Passed the
                          a Congressional Gold                 McClain, Lisa [R-MI].   House by a voice vote.
                          Medal, in                                                   11/17/2021--Passed the
                          commemoration to the                                         Senate by unanimous
                          servicemembers who                                           consent.
                          perished in                                                  12/16/2021--Became Public
                          Afghanistan on August                                        Law 117-72.
                          26, 2021, during the
                          evacuation of
                          citizens of the
                          United States and
                          Afghan allies at
                          Hamid Karzai
                          International
                          Airport, and for
                          other purposes.
H.R. 5320..............  FinCEN Exchange           9/21/2021  Representative Torres,  9/23/2021--Passed the
                          Improvement Act.                     Ritchie [D-NY-15].      House as part of H.R.
                                                                                       4350 by a vote of 316-
                                                                                       113.
                                                                                      12/7/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 363-70.
                                                                                      12/15/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 88-11.
                                                                                      12/27/2021--Became Public
                                                                                       Law 117-81.
H.R. 5911..............  The ``Fair Hiring in      11/9/2021  Representative Beatty,  11/16/2021--Ordered
                          Banking Act''.                       Joyce [D-OH-3].         reported as amended by
                                                                                       the Committee by a voice
                                                                                       vote.
                                                                                      5/10/2022--Passed the
                                                                                       House by a vote of 329-
                                                                                       88.
                                                                                      6/8/2022--Passed the House
                                                                                       as part of H.R. 7776 by a
                                                                                       vote of 384-37.
                                                                                      7/28/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 93-1.
                                                                                      12/8/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       7776 by a vote of 350-80.
                                                                                      12/15/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 83-11.
                                                                                      12/27/2022--Became Public
                                                                                       Law 117-263.
H.R. 5914..............  The ``Empowering          11/9/2021  Representative          11/16/2021--Ordered
                          States to Protect                    Gottheimer, Josh [D-    reported as amended by
                          Seniors from Bad                     NJ-5].                  the Committee by a voice
                          Actors Act''.                                                vote.
                                                                                      5/11/2022--Passed the
                                                                                       House by a vote of 371-
                                                                                       48.
H.R. 6015..............  Benjamin Berell          11/18/2021  Representative          5/10/2022--Passed the
                          Ferencz Congressional                Frankel, Lois [D-FL].   House by a voice vote.
                          Gold Medal Act.                                             12/22/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       2617 by a vote of 68-29.
                                                                                      12/23/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       2617 by a vote of 225-
                                                                                       201, 1 present.
                                                                                      12/29/2022--Signed by the
                                                                                       President.
H.R. 6285..............  Accelerating Holding     12/14/2021  Representative          12/22/2022--Passed the
                          Foreign Companies                    Sherman, Brad [D-CA-    Senate as part of H.R.
                          Accountable Act.                     30].                    2617 by a vote of 68-29.
                                                                                      12/23/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       2617 by a vote of 225-
                                                                                       201, 1 present.
                                                                                      12/29/2022--Signed by the
                                                                                       President.
H.R. 6328..............  FinCEN Exam Delegation   12/20/2021  Representative          9/23/2021--Passed the
                          Study.                               Cleaver, Emanuel [D-    House as part of H.R.
                                                               MO-5].                  4350 by a vote of 316-
                                                                                       113.
                                                                                      12/7/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 363-70.
                                                                                      12/15/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 88-11.
                                                                                      12/27/2021--Became Public
                                                                                       Law 117-81.
H.R. 6340..............  To establish the         12/20/2021  Representative Waters,  9/23/2021--Passed the
                          United States policy                 Maxine [D-CA-43].       House as part of H.R.
                          on Burma at the                                              4350 by a vote of 316-
                          International                                                113.
                          Monetary Fund, the                                          12/7/2021--Passed the
                          World Bank Group, and                                        Senate as part of S. 1605
                          the Asian Development                                        by a vote of 363-70.
                          Bank, and for other                                         12/15/2021--Passed the
                          purposes..                                                   Senate as part of S. 1605
                                                                                       by a vote of 88-11.
                                                                                      12/27/2021--Became Public
                                                                                       Law 117-81.
H.R. 6343..............  The Illicit Finance      12/23/2021  Representative Lynch,   9/23/2021--Passed the
                          Improvements Act.                    Stephen F. [D-MA-8].    House as part of H.R.
                                                                                       4350 by a vote of 316-
                                                                                       113.
                                                                                      12/7/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 363-70.
                                                                                      12/15/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 88-11.
                                                                                      12/27/2021--Became Public
                                                                                       Law 117-81.
H.R. 6388..............  Combating Terrorist       1/12/2022  Representative San      9/23/2021--Passed the
                          and Other Illicit                    Nicolas, Michael [D-    House as part of H.R.
                          Financing Act.                       GU-At Large].           4350 by a vote of 316-
                                                                                       113.
                                                                                      12/7/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 363-70.
                                                                                      12/15/2021--Passed the
                                                                                       Senate as part of S. 1605
                                                                                       by a vote of 88-11.
                                                                                      12/27/2021--Became Public
                                                                                       Law 117-81.
H.R. 6475..............  To amend the              1/25/2022  Representative Waters,  9/23/2021--Passed the
                          International                        Maxine [D-CA-43].       House 316-113 as part of
                          Financial                                                    H.R. 4350.
                          Institutions Act to
                          instruct certain
                          United States
                          Executive Directors
                          to vote against any
                          assistance to the
                          People's Republic of
                          China unless certain
                          certifications are
                          met, and for other
                          purposes.
H.R. 6528..............  The ``Housing             1/28/2022  Representative Torres,  6/22/2022--Ordered
                          Temperature Safety                   Ritchie [D-NY-15].      reported as amended by
                          Act of 2022''.                                               the Committee by a voice
                                                                                       vote.
                                                                                      7/26/2022--Passed the
                                                                                       House by a voice vote.
H.R. 6549..............  To provide support for     2/1/2022  Representative Ocasio-  6/8/2022--Passed the House
                          international                        Cortez, Alexandria [D-  as part of H.R. 7776 by a
                          initiatives to                       NY-14].                 vote of 384-37.
                          provide debt relief                                         7/28/2022--Passed the
                          to developing                                                Senate as part of H.R.
                          countries with                                               7776 by a vote of 93-1.
                          unsustainable levels                                        12/8/2022--Passed the
                          of debt, and for                                             House as part of H.R.
                          other purposes.                                              7776 by a vote of 350-80.
                                                                                      12/15/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 83-11.
                                                                                      12/27/2022--Became Public
                                                                                       Law 117-263.
H.R. 6745..............  Ensuring Diversity in     2/15/2022  Representative Meeks,   6/15/2022--Passed the
                          Community Banking Act.               Gregory W. [D-NY-5].    House 215-207 as part of
                                                                                       H.R. 2543.
H.R. 6891..............  The ``Isolate Russian      3/2/2022  Representative Wagner,  3/17/2022--Ordered
                          Government Officials                 Ann [R-MO].             reported as amended by
                          Act''.                                                       the Committee by a voice
                                                                                       vote.
                                                                                      5/11/2022--Passed the
                                                                                       House by a vote of 416-2.
H.R. 6899..............  The ``Russia and           3/2/2022  Representative Hill,    3/17/2022--Ordered
                          Belarus SDR Exchange                 French [R-AR-2].        reported as amended by
                          Prohibition Act''.                                           the Committee by a voice
                                                                                       vote.
                                                                                      5/11/2022--Passed the
                                                                                       House by a vote of 417-2.
                                                                                      9/21/2022--Passed the
                                                                                       Senate by unanimous
                                                                                       consent.
                                                                                      10/4/2022--Became Public
                                                                                       Law 117-185.
H.R. 7003..............  Expanding Financial        3/8/2022  Representative Waters,  6/15/2022--Passed the
                          Access for                           Maxine [D-CA-43].       House 215-207 as part of
                          Underserved                                                  H.R. 2543.
                          Communities Act.
H.R. 7066..............  The Russian and           3/11/2022  Representative          3/17/2022--Ordered
                          Belarus Financial                    Sherman, Brad [D-CA-    reported as amended by
                          Sanctions Act.                       30].                    the Committee by a voice
                                                                                       vote.
                                                                                      5/11/2022--Passed the
                                                                                       House by a vote of 418-2.
H.R. 7081..............  The ``Ukraine             3/15/2022  Representative Garcia,  3/17/2022--Ordered
                          Comprehensive Debt                   Jesus G. ``Chuy'' [D-   reported as amended by
                          Payment Relief Act''.                IL-4].                  the Committee by a voice
                                                                                       vote.
                                                                                      5/11/2022--Passed the
                                                                                       House by a vote of 362-
                                                                                       56.
                                                                                      6/8/2022--Passed the House
                                                                                       as part of H.R. 7776 by a
                                                                                       vote of 384-37.
                                                                                      7/28/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 93-1.
                                                                                      12/8/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       7776 by a vote of 350-80.
                                                                                      12/15/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 83-11.
                                                                                      12/27/2022--Became Public
                                                                                       Law 117-263.
H.R. 7195..............  To provide for certain    3/24/2022  Representative Adams,   6/22/2022--Ordered
                          whistleblower                        Alma S. [D-NC-12].      reported as amended by
                          incentives and                                               the Committee by a voice
                          protections.                                                 vote.
                                                                                      12/22/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       2617 by a vote of 68-29.
                                                                                      12/23/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       2617 by a vote of 225-
                                                                                       201, 1 present.
                                                                                      12/29/2022--Signed by the
                                                                                       President.
H.R. 7196..............  Flexibility in            3/24/2022  Representative Axne,    5/17/2022--Ordered
                          Addressing Rural                     Cynthia [D-IA-3].       reported as amended by
                          Homelessness Act of                                          the Committee by voice
                          2022.                                                        vote.
                                                                                      6/8/2022--Passed the House
                                                                                       as part of H.R. 7776 by a
                                                                                       vote of 384-37.
                                                                                      7/28/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 93-1.
                                                                                      12/8/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       7776 by a vote of 350-80.
                                                                                      12/15/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       7776 by a vote of 83-11.
                                                                                      12/27/2022--Became Public
                                                                                       Law 117-263.
H.R. 7301 (116th)......  The ``Emergency                 N/A  Representative Waters,  3/10/2021--Passed the
                          Housing Protections                  Maxine [D-CA-43].       House 220-210 as part of
                          and Relief Act of                                            H.R. 1319.
                          2020''.                                                     3/11/2021--Became Public
                                                                                       Law 117-2.
H.R. 7733..............  The ``CDFI Bond           5/12/2022  Representative          5/17/2022--Ordered
                          Guarantee Program                    Cleaver, Emanuel [D-    reported as amended by
                          Improvement Act''.                   MO-5].                  the Committee by a voice
                                                                                       vote.
                                                                                      6/15/2022--Passed the
                                                                                       House 215-207 as part of
                                                                                       H.R. 2543.
                                                                                      7/27/2022--Passed the
                                                                                       House 336-90.
H.R. 7734..............  The ``Timely Delivery     5/12/2022  Representative Waters,  7/20/2022--Ordered
                          of Bank Secrecy Act                  Maxine [D-CA-43].       reported as amended by
                          Reports Act''.                                               the Committee by a voice
                                                                                       vote.
                                                                                      7/26/2022--Passed the
                                                                                       House by a vote of 349-
                                                                                       70.
H.R. 7953..............  The ``Expanding            6/7/2022  Representative Beatty,  6/15/2022--Passed the
                          Opportunities for                    Joyce [D-OH-3].         House 215-207 as part of
                          MDIs Act.                                                    H.R. 2543.
H.R. 7978..............  Promoting and              6/8/2022  Representative Waters,  6/15/2022--Passed the
                          Advancing Communities                Maxine [D-CA-43].       House 215-207 as part of
                          of Color through                                             H.R. 2543.
                          Inclusive Lending Act.
H.R. 7981..............  Public and Federally       6/8/2022  Representative Dean,    6/22/2022--Ordered
                          Assisted Housing Fire                Madeleine [D-PA-4].     reported as amended by
                          Safety Act of 2022.                                          the Committee by a voice
                                                                                       vote.
                                                                                      7/27/2022--Passed the
                                                                                       House by a vote of 336-
                                                                                       90.
                                                                                      12/22/2022--Passed the
                                                                                       Senate as part of H.R.
                                                                                       2617 by a vote of 68-29.
                                                                                      12/23/2022--Passed the
                                                                                       House as part of H.R.
                                                                                       2617 by a vote of 225-
                                                                                       201, 1 present.
                                                                                      12/29/2022--Signed by the
                                                                                       President.
H.R. 7993 (116th)......   The ``Promoting and            N/A  Representative Waters,  6/15/2022--Passed the
                          Advancing Communities                Maxine [D-CA-43].       House 215-207 as part of
                          of Color Through                                             H.R. 2543.
                          Inclusive Lending
                          Act''.
S. 1404................  Ghost Army                4/28/2021  Sen. Markey, Edward [D- 12/15/2021--Passed the
                          Congressional Gold                   MA-Sen].                Senate by unanimous
                          Medal Act.                                                   consent.
                                                                                      1/19/2022--Passed the
                                                                                       House by voice vote.
                                                                                      2/1/2022--Became Public
                                                                                       Law 117-85.
S. 1872................  United States Army        5/27/2021  Representative Ernst,   10/26/2021--Passed the
                          Rangers Veterans of                  Joni [Sen-R-IA].        Senate by unanimous
                          World War II                                                 consent.
                          Congressional Gold                                          5/10/2021--Passed the
                          Medal Act.                                                   House by a vote of 418-0.
                                                                                      6/7/2022--Became Public
                                                                                       Law 117-132.
S. 452.................  Willie O'Ree              2/25/2021  Sen. Stabenow, Debbie   7/27/2021--Passed the
                          Congressional Gold                   [D-MI-Sen].             Senate by unanimous
                          Medal Act.                                                   consent.
                                                                                      1/19/2022--Passed the
                                                                                       House 426-0.
                                                                                      1/31/2022--Became Public
                                                                                       Law 117-84.
----------------------------------------------------------------------------------------------------------------


      OVERSIGHT ACTIVITIES OF THE FULL COMMITTEE AND SUBCOMMITTEES

                  FULL COMMITTEE OVERSIGHT ACTIVITIES

    The Full Committee held 41 hearings during the 117th 
Congress, covering all of the areas of its jurisdiction. One of 
the key new elements of the Committee's work was the creation 
of Task Force on Artificial Intelligence and the Task Force on 
Financial Technology.
    On February 4, 2021, the Full Committee held a hearing 
entitled, ``More than a Shot in the Arm: The Need for 
Additional COVID-19 Stimulus.'' Witnesses were Clarence 
Anthony, CEO and Executive Director, National League of Cities, 
Derrick Johnson, President and CEO, National Association for 
the Advancement of Colored People (NAACP), Janet Murguia, 
President and CEO, UnidosUS, Dr. William Spriggs, Chief 
Economist, The American Federation of Labor and Congress of 
Industrial Organizations (AFL-CIO), and Dr. Michael Strain, 
Economist, American Enterprise Institute.
    On February 18, 2021, the Full Committee held a hearing 
entitled, ``Game Stopped? Who Wins and Loses When Short 
Sellers, Social Media, and Retail Investors Collide.'' 
Witnesses were Vlad Tenev, Chief Executive Officer, Robinhood 
Markets, Inc., Kenneth C. Griffin, Chief Executive Officer, 
Citadel LLC, Gabriel Plotkin, Chief Executive Officer, Melvin 
Capital Management LP, Steve Huffman, Chief Executive Officer, 
Co-Founder, Reddit, Keith Gill, and Jennifer Schulp, Director 
of Financial Regulation Studies, Cato Institute.
    On February 24, 2021, the Full Committee held a hearing 
entitled, ``Monetary Policy and the State of the Economy.'' The 
Witness was the Honorable Jerome H. Powell, Chairman, Board of 
Governors of the Federal Reserve System.
    On March 10, 2021, the Full Committee held a hearing 
entitled, ``Justice for All: Achieving Racial Equity Through 
Fair Access to Housing and Financial Services.'' Witnesses were 
Paulina Gonzalez-Brito, Executive Director, California 
Reinvestment Coalition, Rashad Robinson, President, Color of 
Change, Nikitra Bailey, Executive Vice President, Center for 
Responsible Lending, John C. Yang, President and Executive 
Director, Asian Americans Advancing Justice | AAJC, and Ian 
Rowe, President and Co-Founder of Vertex Partnership Academies.
    On March 17, 2021, the Full Committee held a hearing 
entitled, ``Game Stopped? Who Wins and Loses When Short 
Sellers, Social Media, and Retail Investors Collide, Part II.'' 
Witnesses were Sal Arnuk, Partner/Co-Founder, Themis Trading 
LLC, Michael Blaugrund, Chief Operating Officer, New York Stock 
Exchange, Dr. Vicki Bogan, Associate Professor, Cornell 
University, Alexis Goldstein, Senior Policy Analyst, Americans 
for Financial Reform, Dennis Kelleher, Co-Founder, President 
and Chief Executive Officer of Better Markets, Alan Grujic, 
CEO, All of Us Financial, and Michael Piwowar, Executive 
Director, Milken Institute.
    On March 23, 2021, the Full Committee held a hearing 
entitled, ``Oversight of the Treasury Department's and Federal 
Reserve's Pandemic Response.'' Witnesses were the Honorable 
Janet L. Yellen, Secretary, U.S. Department of the Treasury and 
the Honorable Jerome Powell, Chair, Board of Governors of the 
Federal Reserve System.
    On April 14, 2021, the Full Committee held a hearing 
entitled, ``Build Back Better: Investing in Equitable and 
Affordable Housing Infrastructure.'' Witnesses were Ms. Diane 
Yentel, President and CEO, National Low Income Housing 
Coalition, Dr. Michael McAfee, President and CEO, PolicyLink, 
Ms. Jacqueline Waggoner, President, Solutions Division, 
Enterprise Community Partners, Dr. Saule Omarova, Beth and Marc 
Goldberg Professor of Law, Cornell University, and Mr. Brian 
Riedl, Senior Fellow, Manhattan Institute.
    On April 27, 2021, the Full Committee held a hearing 
entitled, ``Member Day Hearing: Committee on Financial 
Services.'' Witnesses were the Honorable James P. McGovern and 
the Honorable Gwen Moore.
    On May 6, 2021, the Full Committee held a hearing entitled, 
``Game Stopped? Who Wins and Loses When Short Sellers, Social 
Media, and Retail Investors Collide, Part III.'' Witnesses were 
the Honorable Gary Gensler, Chairman, U.S. Securities and 
Exchange Commission, Michael Bodson, President and Chief 
Executive Officer, the Depository Trust & Clearing Corporation, 
and Robert Cook, President and Chief Executive Officer, 
Financial Industry Regulatory Authority, Inc.
    On May 19, 2021, the Full Committee held a hearing 
entitled, ``Oversight of Prudential Regulators: Ensuring the 
Safety, Soundness, Diversity, and Accountability of Depository 
Institutions.'' Witnesses were the Honorable Todd Harper, 
Chairman, National Credit Union Administration, Mr. Michael 
Hsu, Acting Comptroller of the Currency, Office of the 
Comptroller of the Currency, the Honorable Jelena McWilliams, 
Chairman, Federal Deposit Insurance Corporation, and the 
Honorable Randal Quarles, Vice Chairman of Supervision, Board 
of Governors of the Federal Reserve System.
    On May 27, 2021, the Full Committee held a hearing 
entitled, ``Holding Megabanks Accountable: An Update on Banking 
Practices, Programs and Policies.'' Witnesses were Mr. Jamie 
Dimon, Chairman & Chief Executive Officer, JPMorgan Chase & 
Co., Ms. Jane Fraser, Chief Executive Officer, Citi, Mr. James 
P. Gorman, Chairman & Chief Executive Officer, Morgan Stanley, 
Mr. Brian T. Moynihan, Chairman & Chief Executive Officer, Bank 
of America, Mr. Charles W. Scharf, Chief Executive Officer & 
President, Wells Fargo & Company, and Mr. David M. Solomon, 
Chairman & Chief Executive Officer, Goldman Sachs.
    On June 9, 2021, the Full Committee held a hearing 
entitled, ``Universal Vouchers: Ending Homelessness and 
Expanding Economic Opportunity in America.'' Witnesses were Ann 
Oliva, Senior Fellow, Center on Budget Policies and Priorities, 
Mary Cunningham, Senior Fellow and Vice President, Metropolitan 
Housing and Communities, Urban Institute, Benjamin Metcalf, 
Managing Director, Terner Center for Housing Innovation, 
University of California, Berkeley, Chancela Al-Mansour, 
Executive Director, Housing Rights Center, and Howard Husock, 
Adjunct Scholar, Domestic Policy, American Enterprise 
Institute.
    On June 29, 2021, the Full Committee held a hearing 
entitled, ``A Biased, Broken System: Examining Proposals to 
Overhaul Credit Reporting to Achieve Equity.'' Witnesses were 
Mr. Syed Ejaz, Financial Policy Analyst, Consumer Reports, Mr. 
Jeremie Greer, Co-Founder and Co-Executive Director, Liberation 
in a Generation, Ms. Amy Traub, Associate Director of Policy 
and Research, Demos, Ms. Chi Chi Wu, Staff Attorney, National 
Consumer Law Center (NCLC), and Mr. Dan Quan, Adjunct Scholar, 
Cato Institute's Center for Monetary and Financial 
Alternatives.
    On July 14, 2021, the Full Committee held a hearing 
entitled, ``Monetary Policy and the State of the Economy.'' The 
witness was the Honorable Jerome Powell, Chair, Board of 
Governors of the Federal Reserve System.
    On July 20, 2021, the Full Committee held a hearing 
entitled, ``Building Back A Better, More Equitable Housing 
Infrastructure for America: Oversight of the Department of 
Housing and Urban Development.'' The witness was the Honorable 
Marcia Fudge, Secretary, U.S. Department of Housing and Urban 
Development.
    On September 10, 2021, the Full Committee held a hearing 
entitled, ``Protecting Renters During the Pandemic: Reviewing 
Reforms to Expedite Emergency Rental Assistance.'' Witnesses 
were Kadeem Morris, Supervising Attorney, Community Legal 
Services Inc., Margaret Salazar, Executive Director of Oregon 
Housing and Community Services Department, David Schwartz, CEO, 
Chairman & Co-Founder of Waterton, Chair of National 
Multifamily Housing Council, Diane Yentel, President and CEO, 
National Low Income Housing Coalition, and Gilbert J. Winn, 
Chief Executive Officer, Winn Companies.
    On September 30, 2021, the Full Committee held a hearing 
entitled, ``Oversight of the Treasury Department's and Federal 
Reserve's Pandemic Response.'' Witnesses were the Honorable 
Janet L. Yellen, Secretary, U.S. Department of the Treasury and 
the Honorable Jerome Powell, Chair, Board of Governors of the 
Federal Reserve System.
    On October 5, 2021, the Full Committee held a hearing 
entitled, ``Oversight of the U.S. Securities and Exchange 
Commission: Wall Street's Cop Is Finally Back on the Beat.'' 
The witness was the Honorable Gary Gensler, Chair, Securities 
and Exchange Commission.
    On October 21, 2021, the Full Committee held a hearing 
entitled, ``A Strong Foundation: How Housing is the Key to 
Building Back a Better America.'' Witnesses were Symone 
Crawford, First-Generation Homeowner, Director of STASH and 
Homeownership Operations & Incoming Executive Director, 
Massachusetts Affordable Housing Alliance, Michael Edmonds, 
Resident, Tucson House, City of Tucson Department of Housing 
and Community Development, Fernanda Galindo, Cost-Burdened 
Renter, District of Columbia, John R. Harrison, Jr., Formerly 
Experienced Homelessness, Speaker/Advocate, National Coalition 
for the Homeless and Street Outreach Navigator, Prince George's 
County Department of Social Services, Jan Lee, New York City 
Rental Property Owner, on behalf of the Small Property Owners 
of New York (SPONY), Raj Chetty, William A. Ackman Professor of 
Public Economics, Harvard University, Carlos del Rio, MD, 
Distinguished Professor of Medicine, Epidemiology and Global 
Health, Emory University School of Medicine, Lisa Rice, 
President and CEO, National Fair Housing Alliance, Khalil 
Shahyd, Senior Policy Advisor, Equity Environment and Just 
Communities, Natural Resources Defense Council, and Matthew D. 
Dickerson, Director, Grover M. Hermann Center for the Federal 
Budget, The Heritage Foundation.
    On October 27, 2021, the Full Committee held a hearing 
entitled, ``Bringing Consumer Protection Bacl: Semi-Annual 
Review of the Consumer Financial Protection Bureau.'' The 
witness was the Honorable Rohit Chopra, Director, Consumer 
Financial Protection Bureau.
    On December 1, 2021, the Full Committee held a hearing 
entitled, ``Oversight of the Treasury Department's and Federal 
Reserve's Pandemic Response.'' Witnesses were the Honorable 
Janet L. Yellen, Secretary, U.S. Department of the Treasury and 
the Honorable Jerome Powell, Chair, Board of Governors of the 
Federal Reserve System.
    On December 8, 2021, the Full Committee held a hearing 
entitled, ``Digital Assets and the Future of Finance: 
Understanding the Challenges and Benefits of Financial 
Innovation in the United States.'' Witnesses were Jeremy 
Allaire, Co-Founder, Chairman and CEO, Circle, Samuel Bankman-
Fried, Founder and CEO, FTX, Brian P. Brooks, CEO, Bitfury 
Group, Charles Cascarilla, CEO and co-Founder, Paxos Trust 
Company, Denelle Dixon, CEO and Executive Director, Stellar 
Development Foundation, and Alesia Jeanne Haas, CEO, Coinbase 
Inc. and CFO, Coinbase Global Inc.
    On February 8, 2022, the Full Committee held a hearing 
entitled, ``Digital Assets and the Future of Finance: The 
President's Working Group on Financial Markets' Report on 
Stablecoins.'' The witness was the Honorable Nellie Liang, 
Under Secretary for Domestic Finance, U.S. Department of the 
Treasury.
    On February 16, 2022, the Full Committee held a hearing 
entitled, ``An Unprecedented Investment for Historic Results: 
How Federal Support for MDIs and CDFIs Have Launched a New Era 
for Disadvantaged Communities.'' Witnesses were William J. 
Bynum, CEO, HOPE (Hope Credit Union/Hope Enterprise 
Corporation/Hope Policy Institute), Nicole Elam, Esq., 
President & CEO, National Bankers Association, Everett K. 
Sands, CEO, Lendistry, Luz Lopez Urrutia, CEO, Accion 
Opportunity Fund, and Michael Faulkender, Dean's Professor of 
Finance, Smith School of Business, University of Maryland.
    On March 2, 2022, the Full Committee held a hearing 
entitled, ``Monetary Policy and the State of the Economy.'' The 
witness was the Honorable Jerome H. Powell, Chair Pro Tempore, 
Board of Governors of the Federal Reserve System.
    On March 8, 2022, the Full Committee held a hearing 
entitled, ``The Inflation Equation: Corporate Profiteering, 
Supply Chain Bottlenecks, and COVID-19.'' Witnesses were Demond 
Drummer, Managing Director Equitable Economy, PolicyLink, 
Rakeen Mabud, Chief Economist and Managing Director of Policy, 
Groundwork Collaborative, Sandeep Vaheesan, Legal Director, 
Open Markets Institute, Mark Zandi, Chief Economist, Moody's 
Analytics, and Tyler Goodspeed, Kleinheinz Fellow, Hoover 
Institution.
    On April 6, 2022, the Full Committee held a hearing 
entitled, ``The Annual Testimony of the Secretary of the 
Treasury on the State of the International Financial System.'' 
The witness was the Honorable Janet L. Yellen, Secretary of the 
Treasury.
    On April 27, 2022, the Full Committee held a hearing 
entitled, ``Consumers First: Semi-Annual Report of the Consumer 
Financial Protection Bureau.'' The witness was the Honorable 
Rohit Chopra, Director, Consumer Financial Protection Bureau.
    On April 28, 2022, the Full Committee held a hearing 
entitled, ``Oversight of the Financial Crimes Enforcement 
Network.'' The witness was Himamauli ``Him'' Das, Acting 
Director, Financial Crimes Enforcement Network (FinCEN).
    On May 12, 2022, the Full Committee held a hearing 
entitled, ``The Annual Report of the Financial Stability 
Oversight Council.'' The witness was the Honorable Janet L. 
Yellen, Secretary of the Treasury.
    On May 26, 2022, the Full Committee held a hearing 
entitled, ``Digital Assets and the Future of Finance: Examining 
the Benefits and Risks of a U.S. Central Bank Digital 
Currency.'' The witness was the Honorable Lael Brainard, Vice 
Chair of the Board of Governors of the Federal Reserve System.
    On June 23, 2022, the Full Committee held a hearing 
entitled, ``Monetary Policy and the State of the Economy.'' The 
witness was the Honorable Jerome H. Powell, Chair, Board of 
Governors of the Federal Reserve System.
    On June 29, 2022, the Full Committee held a hearing 
entitled, ``Boom and Bust: Inequality, Homeownership, and the 
Long-Term Impacts of the Hot Housing Market.'' Witnesses were 
Michael Calhoun, President, Center for Responsible Lending, Sam 
Chandan, Professor of Finance & Director of Stern School of 
Business, New York University, Jung Hyun Choi, Senior Research 
Associate for Housing Finance Policy Center, Urban Institute, 
Lydia Pope, President, National Association of Real Estate 
Brokers, and Norbert Michel, Vice President and Director of the 
Center for Monetary and Financial Alternatives, Cato Institute.
    On July 20, 2022, the Full Committee held a hearing 
entitled, ``Housing in America: Oversight of the Federal 
Housing Finance Agency.'' The witness was the Honorable Sandra 
L. Thompson, Director, Federal Housing Finance Agency.
    On September 14, 2022, the Full Committee held a hearing 
entitled, ``When Banks Leave: The Impacts of De-Risking on the 
Caribbean and Strategies for Ensuring Financial Access.'' 
Witnesses were the Hon. Mia Amor Mottley, Q.C., M.P., Prime 
Minister of Barbados; Minister of Finance, Economic Affairs and 
Investment; Minister of National Security and the Public 
Service (with responsibility for Culture and CARICOM Matters), 
Ms. Wendy Delmar, CEO, Caribbean Association of Banks, Mr. 
Wazim Mohamed Mowla, Assistant Director and Lead of the 
Caribbean Initiative, Adrienne Arsht Latin America Center, 
Atlantic Council, Mr. I. Wayne Shah, Senior Vice President, 
Financial Institutions--Head of Caribbean Region, Wells Fargo 
Bank, N.A., and Executive Director, Financial & International 
Business Association (FIBA), Mr. Amit Sharma, CEO, Founder, and 
Director, FinClusive, and Ms. Liat Shetret, Director of Global 
Policy and Regulation, Elliptic.
    On September 21, 2022, the Full Committee held a hearing 
entitled, ``Holding Megabanks Accountable: Oversight of 
America's Largest Consumer Facing Banks.'' Witnesses were Andy 
Cecere, Chairman, President, and CEO, U.S. Bancorp, William 
Demchak, Chairman, President, and CEO, The PNC Financial 
Services Group, Jamie Dimon, Chairman and CEO, JPMorgan Chase & 
Co., Jane Fraser, CEO, Citigroup, Brian Moynihan, Chairman and 
CEO, Bank of America, William Rogers Jr., Chairman and CEO, 
Truist Financial Corporation, and Charles Scharf, President and 
CEO, Wells Fargo & Company.
    On December 1, 2022, the Full Committee held a hearing 
entitled, ``Boom and Bust: The Need for Bold Investments in 
Fair and Affordable Housing to Combat Inflation.'' Witnesses 
were Nikitra Bailey, Executive Vice President, National Fair 
Housing Alliance, Margaret Eaddy, Activist and Housing Seeker, 
Michael Mitchell, Director of Policy & Research, Groundwork 
Collaborative, Mark Zandi, Chief Economist, Moody's Analytics, 
and Douglas Holtz-Eakin, President, American Action Forum.
    On December 13, 2022, the Full Committee held a hearing 
entitled, entitled, ``Investigating the Collapse of FTX, Part 
I.'' The witness John J. Ray III, the Chief Executive Officer, 
FTX Group.
    On December 14, 2022, the Full Committee held a hearing 
entitled, entitled, ``Consumers First: Semi-Annual Report of 
the Consumer Financial Protection Bureau.'' The witness was the 
Honorable Rohit Chopra, Director, Consumer Financial Protection 
Bureau.

                         SUBCOMMITTEE ACTIVITES


     SUBCOMMITTEE ON HOUSING, COMMUNITY DEVELOPMENT, AND INSURANCE

    On March 24, 2021, the Subcommittee on Housing, Community 
Development and Insurance held a hearing entitled, ``Preserving 
a Lifeline: Examining Public Housing in a Pandemic.'' Witnesses 
were Georgi Banna, Director of Policy and Program Development, 
National Association of Housing and Redevelopment Officials, 
Brian Gage, Executive Director, Akron Metropolitan Housing 
Authority, Tamir Mohamud, Commissioner and Vice-President, 
Minneapolis High-Rise Representative Council, Oscar Durun, 
Executive Director, Municipal Housing Agency of Council Bluffs, 
and Michael Hendrix, Director of State and Local Policy, 
Manhattan Institute.
    On May 4, 2021, the Subcommittee on Housing, Community 
Development and Insurance held a hearing entitled, ``Built to 
Last: Examining Housing Resilience in the Face of Climate 
Change.'' Witnesses were Rodney Ellis, Commissioner, Harris 
County, Texas, Ariadna M. Godreau-Aubert, Executive Director, 
Ayuda Legal Puerto Rico, Andrew N. Mais, Commissioner, 
Connecticut Department of Insurance, on behalf of the National 
Association of Insurance Commissioners, Shelley Poticha, Chief 
Climate Strategist, Natural Resources Defense Council, and 
Stephen Ellis, President, Taxpayers for Common Sense.
    On June 16, 2021, the Subcommittee on Housing, Community 
Development and Insurance held a hearing entitled, ``Flexible 
Federal Funding: Examining the Community Development Block 
Grant Program and Its Impact on Addressing Local Challenges.'' 
Witnesses were Joseph Jaroscak, Analyst in Economic Development 
Policy, Congressional Research Service, George Mensah, 
Director, Department of Housing and Community Development of 
the City of Miami, Florida, London Breed, Mayor, Mayor of the 
City and County of San Francisco, California, Kimberly 
Robinson, Executive Director, Pioneer Valley Planning 
Commission, and Salim Furth, Ph.D., Senior Research Fellow, 
Mercatus Center at George Mason University.
    On July 27, 2021, the Subcommittee on Housing, Community 
Development and Insurance held a hearing entitled, ``NAHASDA 
Reauthorization: Addressing Historic Disinvestment and the 
Ongoing Plight of the Freedmen in Native American 
Communities.'' Witnesses were The Honorable Chuck Hoskin, Jr., 
Principal Chief, Cherokee Nation, Chris Kolerok, Director of 
Public Policy & Government Affairs, Cook Inlet Housing 
Authority, Marilyn Vann, President, Descendants of Freedmen of 
the Five Tribes Association, Anthony Walters, Executive 
Director, National American Indian Housing Council, and Jackson 
Brossy, Executive Director, Native CDFI Network.
    On October 15, 2021, the Subcommittee on Housing, Community 
Development and Insurance held a hearing entitled, ``Zoned Out: 
Examining the Impact of Exclusionary Zoning on People, 
Resources, and Opportunity.'' Witnesses were Sheryll D. Cashin, 
Carmack Waterhouse Professor of Law, Civil Rights and Social 
Justice, Georgetown University, Richard D. Kahlenberg, Senior 
Fellow, The Century Foundation, Dora Leong Gallo, President and 
CEO, A Community of Friends, Thomas Silverstein, Associate 
Director of Fair Housing & Community Development Project, 
Lawyers' Committee for Civil Rights Under Law, and Dr. Emily 
Hamilton, Senior Research Fellow and Codirector of the Urbanity 
Project at the Mercatus Center, George Mason University.
    On February 2, 2022, the Subcommittee on Housing, Community 
Development and Insurance held a hearing entitled, ``Housing 
America: Addressing Challenges in Serving People Experiencing 
Homelessness.'' Witnesses were Adrienne Bush, Executive 
Director, Homeless and Housing Coalition of Kentucky, Marc 
Dones, Chief Executive Officer, King County Regional 
Homelessness Authority, Ann Oliva, Vice President for Housing 
Policy, Center on Budget and Policy Priorities, Nan Roman, 
Chief Executive Officer, National Alliance to End Homelessness, 
and Harriet McDonald, President, The Doe Fund.
    On April 20, 2022, the Subcommittee on Housing, Community 
Development and Insurance held a hearing entitled, ``A Matter 
of Life and Death: Improving Fire Safety in Federally Assisted 
Housing.'' Witnesses were Adolfo Carrion, Commissioner for 
Enforcement and Neighborhood Services, NYC Department of 
Housing Preservation and Development, Sandra Clayton, former 
resident of Twin Parks North West, Vanessa Gibson, Bronx 
Borough President, Laura Kavanagh, Commissioner of the New York 
City Fire Department, RuthAnne Visnauskas, Commissioner and 
CEO, New York State Homes and Community Renewal, Alicka Ampry-
Samuel, Regional Administrator, Region II, Department of 
Housing and Urban Development, and Ashley Sheriff, Acting 
Deputy Assistant, Real Estate Assessment Center, Department of 
Housing and Urban Development.
    On May 25, 2022, the Subcommittee on Housing, Community 
Development and Insurance held a hearing entitled, 
``Reauthorization and Reform of the National Flood Insurance 
Program.'' Witnesses were Carolyn Kousky, Executive Director, 
Wharton Risk Center, Karen McHugh, Missouri State NFIP 
Coordinator, Ariel Rivera-Miranda, Founder and Agency 
Principal, Deer Insurance, Roy Wright, President & CEO, 
Insurance Institute for Business and Home Safety, and Franklin 
W. Nutter, President, Reinsurance Association of America.
    On September 22, 2022, the Subcommittee on Housing, 
Community Development and Insurance held a hearing entitled, 
``State of Emergency: Examining the Impact of Growing Wildfire 
Risk on the Insurance Markets.'' Witnesses were Matthew Auer, 
Dean of the School of Public and International Affairs, 
University of Georgia, Amy Bach, Executive Director, United 
Policyholders, Ricardo Lara, California Insurance Commissioner, 
Roy Wright, President & CEO of the Insurance Institute for 
Business & Home Safety, and Rex Frazier, President, Personal 
Insurance Federation of California.
    On November 15, 2022, the Subcommittee on Housing, 
Community Development and Insurance held a hearing entitled, 
``Persistent Poverty in America, Addressing Chronic 
Disinvestment in Colonias, the Southern Black Belt, and the 
U.S. Territories.'' Witnesses were Amber Arriaga-Salinas, 
Assistant Executive Director, Proyecto Azteca, Yarimar Bonilla, 
Director, Center for Puerto Rican Studies at Hunter College, 
Kiyadh Burt, Vice President of Policy & Advocacy and Interim 
Director, HOPE Policy Institute, Lance George, Director of 
Research and Information, Housing Assistance Council, and Chris 
Potterpin, President of Development, PK Companies.

                SUBCOMMITTEE ON DIVERSITY AND INCLUSION

    On March 18, 2021, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``By the Numbers: How 
Diversity Data Can Measure Commitment to Diversity, Equity and 
Inclusion.'' Witnesses were Thomas DiNapoli, New York State 
Comptroller, Daniel Garcia-Diaz, Managing Director, Financial 
Markets and Community Investment Team, U.S. Government 
Accountability Office (GAO), Carolynn Johnson, CEO, 
DiversityINC, Anne Simpson, Managing Investment Director, 
Sustainable Investments, CalPERS, and Rick Wade, Senior Vice 
President of Strategic Alliances and Outreach, U.S. Chamber of 
Commerce.
    On April 29, 2021, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``Closing the Racial and 
Gender Wealth Gap Through Compensation Equity.'' Witnesses were 
Dr. Andrew Chamberlain, Chief Economist, Glassdoor, Emily M. 
Dickens, J.D., Chief of Staff, Head, Government Affairs and 
Corporate Secretary, Society for Human Resource Management 
(SHRM), Maya Raghu, Director of Workplace Equality and Senior 
Counsel, National Women's Law Center, and Dwana Franklin Davis, 
Chief Executive Officer, Reboot Representation.
    On June 29, 2021, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``The Legacy of George 
Floyd: An Examination of Financial Services Industry 
Commitments to Economic and Racial Justice.'' Witnesses were 
Fabrice Coles, Vice President of Government Affairs, Bank 
Policy Institute, Donald Cravins, Jr., Executive Vice President 
and Chief Operating Officer, National Urban League, Darrick 
Hamilton, Professor of Economics and Urban Policy, The New 
School, Jonay Foster Holkins, Senior Director of Policy, 
Business Roundtable, and Hassan Miah, Chief Executive Officer, 
Paybby Corp.
    On September 28, 2021, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``Access Denied: Eliminating 
Barriers and Increasing Economic Opportunity for Justice-
Involved Individuals.'' Witnesses were Sakira Cook, Sr. 
Director of the Justice Reform Program, The Leadership 
Conference of Civil and Human Rights, Jeffery Korzenik, Author, 
Untapped Talent, Dolfinette Martin, Housing Director, Operation 
Restoration, Melissa Sorenson, Executive Director of the 
Professional Background Screening Association, and Marie Claire 
Tran-Leung, Director of Legal Impact Network, Shriver Center on 
Poverty Law.
    On November 9, 2021, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``There's No Pride in 
Prejudice: Eliminating Barriers to Full Economic Inclusion for 
the LGBTQ+ Community.'' Witnesses were David Johns, Executive 
Director, National Black Justice Coalition, Spencer Watson, 
President and Executive Director, Center for LGBTQ Economic 
Advancement and Research, Tanya Asapansa-Johnson Walker, Co-
founder, New York Transgender Advocacy Group and Transgender 
Women's Support Group Facilitator, SAGE, and Todd Sears, 
Founder & CEO, Out Leadership, LLC.
    On December 9, 2021, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``A Review of Diversity and 
Inclusion Performance at America's Large Investment Firms.'' 
Witnesses were Michelle Gadsden-Williams, Managing Director, 
Human Resources, Global Head of Diversity, Equity and 
Inclusion, BlackRock, Eric Pan, President and CEO, Investment 
Company Institute, Ron Parker, President and CEO, National 
Association of Securities Professionals (NASP), Cyrus 
Taraporevala, President and CEO, State Street Global Advisors, 
and Michael Clements, Director, Financial Markets and Community 
Investment, Government Accountability Office.
    On February 3, 2022, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``Building Opportunity: 
Addressing the Financial Barriers to Minority and Women-Owned 
Businesses' Involvement in Infrastructure Projects.'' Witnesses 
were Farad Ali, President & CEO, Asociar LLC, Tawanna Black, 
Founder and CEO, Center for Economic Inclusion, Philip Gaskin, 
Vice President of Entrepreneurship, Ewing Marion Kauffman 
Foundation, Ying McGuire, President & CEO, National Minority 
Supplier Development Council (NMSDC), and Jeanette Quick, Head 
of Compliance and Public Policy, Gusto.
    On May 24, 2022, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``Diversity Includes 
Disability: Exploring Inequities in Financial Services for 
Persons with Disabilities, Including Those Newly Disabled Due 
to Long-Term COVID.'' Witnesses were Alison Cannington, Senior 
Manager, Advocacy and Organizing, The Kelsey, Cynthia 
DiBartolo, Founder and CEO, Tigress Financial Partners, Thomas 
Foley, Executive Director, National Disability Institute, 
Vilissa Thompson, LMSW Fellow, The Century Foundation & Co-
director, Disability Economic Justice Collaborative, and 
Caroline Sullivan, Executive Director, North Carolina Business 
Committee for Education, Office of the Governor.
    On September 20, 2022, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``A Review of Diversity and 
Inclusion at America's Largest Insurance Companies.'' Witnesses 
were Eloiza Domingo, Chief Diversity Officer and Vice 
President, Human Resources, The Allstate Corporation, Dr. Leroy 
D. Nunery II, President, Evolution Advisors LLC, Kimberly Ross, 
Senior Vice President, Federal Relations, American Council of 
Life Insurers (ACLI), Chlora Lindley-Myers, Director, Missouri 
Department of Commerce and Insurance on behalf of the National 
Association of Insurance Commissioners (NAIC), and Baird Webel, 
Specialist in Financial Economics, Congressional Research 
Service.
    On December 6, 2022, the Subcommittee on Diversity and 
Inclusion held a hearing entitled, ``Unfinished Business: A 
Review of Progress Made and a Plan to Achieve Full Economic 
Inclusion for Every American.'' The witnesses for this hearing 
were LeRoy Cavazos-Reyna, Vice President of Government and 
International Affairs, United States Hispanic Chamber of 
Commerce, Debra Gore-Mann, President and Chief Executive 
Officer, Greenlining Institute, Carolynn Johnson, Chief 
Executive Officer, DiversityInc, Marc Morial, President and 
Chief Executive Officer, National Urban League, and Daniel 
Garcia-Dias, Managing Director, Financial Markets & Community 
Investment, U.S. Government Accountability Office.

     SUBCOMMITTEE ON CONSUMER PROTECTION AND FINANCIAL INSTITUTIONS

    On March 11, 2021, the Subcommittee on Consumer Protection 
and Financial Inclusion held a hearing entitled, ``Slipping 
Through the Cracks: Policy Options to Help America's Consumer 
During the Pandemic.'' Witnesses were Ashley Harrington, 
Federal Advocacy Director and Senior Counsel, Center for 
Responsible Lending (CRL), Robert E. James, II, President, 
Carver Development CDE, and Chairman, National Bankers 
Association, Carla Sanchez-Adams, Attorney, Team Manager of 
Survivor-Centered Economic Advocacy Team, Texas RioGrande Legal 
Aid, Valarie Shultz-Wilson, Managing Partner, Shultz&Co Non-
Profit Management Consultants, and Joel Griffith, Research 
Fellow, Financial Regulations, The Roe Institute for Economic 
Policy Studies, The Heritage Foundation.
    On April 15, 2021, the Subcommittee on Consumer Protection 
and Financial Inclusion held a hearing entitled, ``Banking 
Innovation or Regulatory Evasion? Exploring Trends in Financial 
Institution Charters.'' Witnesses were Ral Carrillo, Deputy 
Director, LPE Project and Associate Research Scholar at Yale 
Law School, Erik Gerding, Professor of Law, University of 
Colorado Law School, Kristin Johnson, Asa Griggs Candler 
Professor of Law, Emory University School of Law, Carlos 
Pacheco, CEO, Premier Members Credit Union on behalf of 
National Association of Federally-Insured Credit Unions 
(NAFCU), and Brian Brooks, Former Acting Comptroller of the 
Currency.
    On June 30, 2021, the Subcommittee on Consumer Protection 
and Financial Inclusion held a hearing entitled, ``Addressing 
Climate as a Systemic Risk: The Need to Build Resilience within 
Our Banking and Financial System.'' Witnesses were Ms. Hilary 
Allen, Associate Professor of Law, American University, Dr. 
Rachel Cleetus, Policy Director, Union of Concerned Scientists, 
Ms. Mayra Rodriguez Valladares, Managing Principal, MRV 
Associates, Mr. Steven Rothstein, Managing Director, Ceres 
Accelerator for Sustainable Capital Markets, and Dr. Clifford 
Rossi, Executive-in-Residence and Professor of the Practice at 
the Robert H. Smith School of Business, University of Maryland.
    On July 21, 2021, the Subcommittee on Consumer Protection 
and Financial Inclusion held a hearing entitled, ``Banking the 
Unbanked: Exploring Private and Public Efforts to Expand Access 
to the Financial System.'' Witnesses were Mehrsa Baradaran, 
Professor of Law, University of California Irvine School of 
Law, Deyanira Del Roo, Co-Executive Director, New Economy 
Project, Ameya Pawar, Senior Fellow, Economic Security Project, 
David Rothstein, Senior Principal, Cities for Financial 
Empowerment Fund, and John Berlau, Senior Fellow, Competitive 
Enterprise Institute.
    On September 29, 2021, the Subcommittee on Consumer 
Protection and Financial Inclusion held a hearing entitled, 
``The Future of Banking: How Consolidation, Nonbank 
Competition, and Technology are Reshaping the Banking System.'' 
Witnesses were Paulina Gonzalez-Brito, Executive Director, 
California Reinvestment Coalition, Makada Henry-Nickie, Robert 
and Virginia Hartley Fellow--Governance Studies, Brookings, 
Sarah Jane Hughes, University Scholar and Fellow in Commercial 
Law, Indiana University School of Law, Desiree Jackson, 
Assistant Vice President for Treasury Management, Beneficial 
State Bank, and Jim Reuter, Chief Executive Officer, FirstBank 
on behalf of American Bankers Association.
    On November 3, 2021, the Subcommittee on Consumer 
Protection and Financial Inclusion held a hearing entitled, 
``Cyber Threats, Consumer Data, and the Financial System.'' 
Witnesses were Samir Jain, Director of Policy, Center for 
Democracy & Technology, Robert E. James, II, President & CEO, 
Carver Financial Corporation, Carlos Vazquez, Chief Information 
Security Officer, Canvas Credit Union, and Jeff Newgard, 
President and Chief Executive Officer, Bank of Idaho, on behalf 
of the Independent Community Bankers of America.
    On February 17, 2022, the Subcommittee on Consumer 
Protection and Financial Inclusion held a hearing entitled, 
``Small Businesses, Big Impact: Ensuring Small and Minority-
Owned Businesses Share in the Economic Recovery.'' Witnesses 
were Marla Bilonick, President and CEO, National Association 
for Latino Community Asset Builders (NALCAB), Stephanie DeVane, 
Vice President for Entrepreneurship & Business Development, 
National Urban League, Amber Littlejohn, Executive Director, 
Minority Cannabis Business Association (MCBA), Dr. Alicia Robb, 
Founder and CEO, Next Wave Impact, and Dane Stangler, Director 
of Strategic Initiatives, Bipartisan Policy Center.
    On March 31, 2022, the Subcommittee on Consumer Protection 
and Financial Inclusion held a hearing entitled, ``The End of 
Overdraft Fees? Examining the Movement to Eliminate the Fees 
Costing Consumers Billions.'' Witnesses were Jeremie Greer, Co-
Founder/Executive Director, Liberation in a Generation, Elyse 
Crawford-Hicks, Consumer Policy Counsel, Americans for 
Financial Reform, Paul Kundert, President and CEO, UW Credit 
Union, Santiago Sueiro, Senior Policy Analyst, UnidosUS, and 
Todd Zywicki, George Mason University Foundation Professor of 
Law, Antonin Scalia Law School, George Mason University.
    On July 13, 2022, the Subcommittee on Consumer Protection 
and Financial Inclusion held a hearing entitled, ``Better 
Together: Examining the Unified Proposed Rule to Modernize the 
Community Reinvestment Act.'' Witnesses were Seema Agnani, 
Executive Director, National Coalition for Asian Pacific 
American Community Development, Catherine Crosby, Chairperson, 
National Community Reinvestment Coalition, Yoselin Genao-
Estrella, Executive Director, Neighborhood Housing Services of 
Queens CDC, Inc., Quentin Leighty, Chief Financial Officer and 
President, First National Bank of Las Animas (on behalf of 
Independent Community Bankers of America), and Darryl E. 
Getter, Specialist in Financial Economics, Congressional 
Research Service.

   SUBCOMMITTEE ON INVESTOR PROTECTION, ENTREPRENEURSHIP AND CAPITAL 
                                MARKETS

    On February 25, 2021, the Subcommittee on Investor 
Protection, Entrepreneurship and Capital Markets held a hearing 
entitled, ``Climate Change and Social Responsibility: Helping 
Corporate Boards and Investors Make Decisions for a Sustainable 
World.'' Witnesses were Andy Green, Senior Fellow for Economic 
Policy, Center for American Progress, Heather McTeer Toney, 
Environmental Justice Liaison, Environmental Defense Fund and 
Senior Advisor, Moms Clear Air Force, Veena Ramani, Senior 
Program director, Capital Market Systems, Ceres, James Andrus, 
Investment Manager, California Public Employees' Retirement 
System, and Vivek Ramaswamy, Biotech Entrepreneur and Author.
    On April 15, 2021, the Subcommittee on Investor Protection, 
Entrepreneurship and Capital Markets held a hearing entitled, 
``The End of LIBOR: Transitioning to an Alternative Interest 
Rate Calculation for Mortgages, Student Loans, Business 
Borrowing, and Other Financial Products.'' Witnesses were Dan 
Coates, Senior Associate Director, Office of Risk Analysis and 
Modeling, Federal Housing Finance Agency, John Coates, Acting 
Director, Division of Corporation Finance, Securities and 
Exchange Commission, Brian Smith, Deputy Assistant Secretary 
for Federal Finance, U.S. Department of the Treasury, Mark Van 
Der Weide, General Counsel, Board of Governors of the Federal 
Reserve System, and Kevin Walsh, Deputy Comptroller, Market 
Risk Policy, Office of the Comptroller of the Currency.
    On May 24, 2021, the Subcommittee on Investor Protection, 
Entrepreneurship and Capital Markets held a hearing entitled, 
``Going Public: SPACs, Direct Listings, Public Offerings, and 
the Need for Investor Protections.'' Witnesses were Stephen 
Deane, Senior Director of Legislative and Regulatory Outreach, 
CFA Institute, Andrew Park, Senior Policy Analyst, Americans 
for Financial Reform, Usha Rodrigues, Professor & M.E. 
Kilpatrick Chair of Corporate Finance and Securities Law, 
University of Georgia School of Law, and Scott Kupor, Investing 
Partner, Andreessen Horowitz.
    On July 21, 2021, the Subcommittee on Investor Protection, 
Entrepreneurship and Capital Markets held a hearing entitled, 
``Bond Rating Agencies: Examining the ``Nationally Recognized'' 
Statistical Rating Organizations.'' Witnesses were Amy Copeland 
McGarrity, Chief Investment Officer, Colorado Public Employees' 
Retirement Association, Ian Linnell, President, Fitch Ratings, 
Jim Nadler, President and CEO, Kroll Bond Rating Agency, Robert 
J. Rhee, Professor, University of Florida Levin College of Law, 
and Michael Bright, Chief Executive Officer, Structured Finance 
Association.
    On October 26, 2021, the Subcommittee on Investor 
Protection, Entrepreneurship and Capital Markets held a hearing 
entitled, ``Taking Stock of China, Inc.: Examining Risks to 
Investors and the U.S. Posed by Foreign Issuers in U.S. 
Markets.'' Witnesses were Karen Sutter, Specialist in Asian 
Trade and Finance, Congressional Research Service, Samantha 
Ross, Founder, AssuranceMark, The Investors' Consortium for 
Assurance, Claire Chu, Senior Analyst, RWR Advisory Group, and 
Eric Lorber, Senior Director of the Center on Economic and 
Financial Power, Foundation for Defense of Democracies.
    On March 30, 2022, the Subcommittee on Investor Protection, 
Entrepreneurship and Capital Markets held a hearing entitled, 
``Oversight of America's Stock Exchanges: Examining Their Role 
in Our Economy.'' Witnesses were Robert J. Jackson Jr., former 
SEC Commissioner and current Professor of Law, New York 
University School of Law, Michael S. Piwowar, Executive 
Director, Milken Institute Center for Financial Markets; former 
Commissioner and Acting Chairman, SEC, Ellen Greene, Managing 
Director, SIFMA, Nandini Sukumar, CEO, The World Federation of 
Exchanges, and Manisha Kimmel, Chief Policy Officer, MayStreet.
    On May 11, 2022, the Subcommittee on Investor Protection, 
Entrepreneurship and Capital Markets held a hearing entitled, 
``A Notch Above? Examining the Bond Rating Industry.'' 
Witnesses were Yann Le Pallec, Executive Managing Director, 
Head of Global Ratings Services, S&P Global Ratings, Angela 
Liang, General Counsel and Executive Committee Member, Kroll 
Bond Rating Agency, Ian Linnell, President, Fitch Ratings, 
Mariana Gomez-Vock, Senior Vice President of Policy and Legal, 
American Council of Life Insurers, and Jennifer J. Schulp, 
Director of Financial Regulation Studies, Center for Monetary 
and Financial Alternatives, Cato Institute.
    On July 19, 2022, the Subcommittee on Investor Protection, 
Entrepreneurship and Capital Markets held a hearing entitled, 
``Oversight of the SEC's Division of Enforcement.'' The witness 
was Gurbir S. Grewal, Director, Division of Enforcement, 
Securities and Exchange Commission.
    On November 15, 2022, the Subcommittee on Investor 
Protection, Entrepreneurship and Capital Markets held a hearing 
entitled, ``Investing in our Rivals: Examining U.S. Capital 
Flows to Foreign Rivals and Adversaries Around the World.'' 
Witnesses were Courtney Alexander, Senior Researcher, United 
Food & Commercial Workers International Union, Claire Chu, 
Senior Analyst, Janes Group, Jeff Ferry, Senior Economist, 
Coalition for a Prosperous America, and Jeffrey A. Sonnenfeld, 
Senior Associate Dean of Leadership Studies, Yale School of 
Management.
    On December 8, 2022, the Subcommittee on Investor 
Protection, Entrepreneurship and Capital Markets held a hearing 
entitled, ``E, S, G and W: Examining Private Sector Disclosure 
of Workforce Management, Investment, and Diversity Data.'' 
Witnesses were Cambria Allen-Ratzlaff, Managing Director and 
Head of Investor Strategies, JUST Capital, Colleen Honigsberg, 
Ph.D. in Accounting and Professor of Law, Stanford Law School, 
Shivaram Rajgopal, Ph.D. in Accounting and Professor of 
Accounting and Auditing, Columbia Business School, Fran 
Seegull, President, U.S. Impact Investing Alliance, and Andy 
Vollmer, Senior Affiliated Scholar, Mercatus Center at George 
Mason University.

   SUBCOMMITTEE ON NATIONAL SECURITY, INTERNATIONAL DEVELOPMENT, AND 
                            MONETARY POLICY

    On February 4, 2021, the Subcommittee on National Security, 
International Development and Monetary Policy held a hearing 
entitled, ``Supporting Small and Minority-Owned Businesses 
Through the Pandemic.'' Witnesses were Nneka Brown-Massey, 
Founder and Creative Director, Innovative Supplies Worldwide, 
Inc., on behalf of Main Street Alliance; Gary Cunningham, 
President and CEO, Prosperity Now; Cliff Kellogg, Executive 
Director, C PACE Alliance; Everett Sands, CEO, Lendistry; and 
Holly Wade, Executive Director of Research and Policy Analysis, 
National Federation of Independent Business (NFIB).
    On February 25, 2021, the Subcommittee on National 
Security, International Development and Monetary Policy held a 
hearing entitled, ``Dollars Against Democracy: Domestic 
Terrorist Financing in the Aftermath of Insurrection.'' 
Witnesses were Iman Boukadoum, Senior Manager, The Leadership 
Conference on Civil and Human Rights; Lecia Brooks, Executive 
Director, Southern Poverty Law Center; Daniel L. Glaser, Global 
Head Jurisdictional Services and Head of Washington, DC Office, 
K2 Integrity, Senior Advisor at the Foundation for Defense of 
Democracies, and former Assistant Secretary for Terrorist 
Financing and Financial Crimes, U.S. Department of the 
Treasury; Dr. Daniel Rogers, Co-Founder and Chief Technical 
Officer, Global Disinformation Index; and Daveed Gartenstein-
Ross, CEO, Valens Global.
    On March 25, 2021, the Subcommittee on National Security, 
International Development and Monetary Policy held a hearing 
entitled, ``Ending Exploitation: How the Financial System Can 
Work to Dismantle the Business of Human Trafficking.'' 
Witnesses were Ambassador Luis C. deBaca, Senior Fellow in 
Modern Slavery and Visiting Lecturer in Law, Yale University; 
Former U.S. Ambassador-At-Large to Monitor and Combat 
Trafficking in Persons; Rev. Dr. Marian Hatcher, U.S. 
Representative, SPACE International; Barry M. Koch, Founder and 
Owner, Barry M. Koch PLLC, Commissioner, Liechtenstein 
Initiative; Laila Mickelwait, Founder, Traffickinghub movement, 
President, Justice Defense Fund; and Dr. Louise Shelley, Omer 
L. and Nancy Hirst Endowed Chair, George Mason University, 
Director, Terrorism, Transnational Crime and Corruption Center 
(TraCCC).
    On May 18, 2021, the Subcommittee on National Security, 
International Development and Monetary Policy held a hearing 
entitled, ``Examining Belt and Road: The Lending Practices of 
the People's Republic of China and Impact on the International 
Debt Architecture.'' Witnesses were Professor Anna Gelpern, 
Anne Fleming Research Professor at Georgetown Law and 
Nonresident Senior Fellow at the Peter G. Peterson Institute 
for International Economics; Mr. Scott Morris, Senior Fellow, 
Center for Global Development; Professor Odette Lienau, 
Professor of Law, Associate Dean for Faculty Research and 
Intellectual Life, Cornell University Law School; Mr. Jaime 
Atienza, Debt Policy Lead, Oxfam; and Mr. Sebastian Horn, 
Economist, Kiel Institute for the World Economy.
    On June 16, 2021, the Subcommittee on National Security, 
International Development and Monetary Policy held a hearing 
entitled, ``Schemes and Subversion: How Bad Actors and Foreign 
Governments Undermine and Evade Sanctions Regimes.'' Witnesses 
were Ivan A. Garces, Principal and Chair, Risk Advisory 
Services, Kaufman Rossin; Eric B. Lorber, Senior Director, 
Center on Economic and Financial Power, Foundation for Defense 
of Democracies; Lakshmi Kumar, Policy Director, Global 
Financial Integrity; Jesse Spiro, Global Head of Policy & 
Regulatory Affairs, Chainalysis; and Dr. Jeffrey W. Taliaferro, 
Professor, Department of Political Science, Tufts University.
    On July 27, 2021, the Subcommittee on National Security, 
International Development and Monetary Policy held a hearing 
entitled, ``The Promises and Perils of Central Bank Digital 
Currencies.'' Witnesses were Dr. Julia Coronado, President and 
Founder, MacroPolicy Perspectives; Mr. Yaya Fanusie, Adjunct 
Senior Fellow, Energy, Economics and Security Program, Center 
for a New American Security; Ms. Julia Friedlander, C. Boyden 
Gray Senior Fellow and Deputy Director, Atlantic Council; Dr. 
Andrew Levin, Professor of Economics, Dartmouth College; and 
Mr. Robert M. Baldwin, Head of Policy, Association for Digital 
Asset Markets.
    On September 23, 2021, the Subcommittee on National 
Security, International Development and Monetary Policy held a 
hearing entitled, ``Lending in a Crisis: Reviewing the Federal 
Reserve's Emergency Lending Powers During the Pandemic and 
Examining Proposals to Address Future Economic Crises.'' 
Witnesses were The Honorable Shawn Wooden, Treasurer, State of 
Connecticut; Mike Konczal, Director, Macroeconomic Analysis and 
Progressive Thought, Roosevelt Institute; June Rhee, Director, 
Master of Management Studies in Systemic Risk, Yale School of 
Management; Christopher Russo, Post-Graduate Research Fellow, 
Mercatus Center; and Claudia Sahm, Senior Fellow, Jain Family 
Institute.
    On November 4, 2021, the Subcommittee on National Security, 
International Development and Monetary Policy held a hearing 
entitled, ``From Timber to Tungsten: How the Exploitation of 
Natural Resources Funds Rogue Organizations and Regimes.'' 
Witnesses were Kidan Araya, Member, Illicit Trafficking Working 
Group, Women of Color Advancing Peace and Security, Board 
Member, Africa Policy Accelerator, CSIS; Carla Garcia Zendejas, 
Director, People, Land, and Resources, Center for International 
Environmental Law (CIEL); Channing Mavrellis, Illicit Trade 
Director, Global Financial Integrity; Kathleen Miles, Director 
of Analysis, Center on Illicit Networks and Organized Crime 
(CINTOC); and Joshua Fruth, Co-Founder/Chief Strategy Officer, 
Section 2 Financial Intelligence Solutions, LLC.
    On February 17, 2022, the Subcommittee on National 
Security, International Development and Monetary Policy held a 
hearing entitled, ``The Role of the IMF in a Changing Global 
Landscape.'' Witnesses were Daouda Sembene, Distinguished Non-
Resident Fellow, Center for Global Development; Stephanie 
Segal, Senior Associate, Economics Program, Center for 
Strategic and International Studies; Jayati Ghosh, Professor of 
Economics, University of Massachusetts at Amherst; Joseph E. 
Stiglitz, University Professor, Columbia University; and 
Kenneth Rogoff, Thomas D. Cabot Professor of Public Policy and 
Professor of Economics, Harvard University.
    On September 20, 2022, the Subcommittee on National 
Security, International Development and Monetary Policy held a 
hearing entitled, ``Under the Radar: Alternative Payment 
Systems and the National Security Impacts of Their Growth.'' 
Witnesses were Scott Dueweke, Global Fellow, Science and 
Technology Innovation, the Wilson Center; Emily Jin, Research 
Assistant for the Energy, Economics and Security Program, the 
Center for a New American Security; Dr. Carla Norrlof, 
Nonresident Senior Fellow, Economic Statecraft Initiative, 
GeoEconomics Center, the Atlantic Council; Ari Redbord, Head of 
Legal and Government Affairs, TRM Labs; and Jonathan Levin, Co-
founder and Chief Strategy Officer, Chainalysis.

              SUBCOMMITTEE ON OVERSIGHT AND INVESTIGATION

    On February 24, 2021, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``How Invidious 
Discrimination Works and Hurts: An Examination of Lending 
Discrimination and Its Long-term Economic Impacts on Borrowers 
of Color.'' Witnesses were William Darity, Jr., Professor of 
Public Policy, African and African American Studies, and 
Economics, Duke University; Director, Samuel DuBois Cook Center 
on Social Equity, Lisa Rice, President & CEO, National Fair 
Housing Alliance (NFHA), Andre Perry, Senior Fellow, 
Metropolitan Policy Program, The Brookings Institution, Frances 
Espinoza, Executive Director, North Texas Fair Housing Center, 
and Cheryl Cooper, Analyst, Financial Economics Division, 
Congressional Research Service.
    On April 28, 2021, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``Examining the Role of 
Municipal Bond Markets in Advancing--and Undermining--Economic, 
Racial and Social Justice.'' Witnesses were William Fisher, 
Chief Executive Officer, Rice Capital Access Program, Gary 
Hall, Partner and Head of Investment Banking (Infrastructure 
and Public Finance), Siebert Williams Shank & Co., LLC, Chelsea 
McDaniel, Senior Fellow, Activest, Jim Nadler, Chief Executive 
Officer, Kroll Bond Rating Agency, and Chris Parsons, Professor 
of Finance, University of Southern California.
    On May 26, 2021, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``Consumer Credit 
Reporting: Assessing Accuracy and Compliance.'' Witnesses were 
Ms. Beverly Anderson, President, Global Consumer Solutions, 
Equifax Inc., Ms. Sandy Anderson, Senior Vice President of 
Operations, Experian North America, Mr. John Danaher, 
President, Consumer Interactive at TransUnion, Ms. Rebecca 
Kuehn, Partner, Hudson Cook, LLP, on behalf of the Consumer 
Data Industry Association, and Ms. Chi Chi Wu, Staff Attorney, 
National Consumer Law Center (NCLC).
    On June 30, 2021, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``America on ``FIRE'': 
Will the Crypto Frenzy Lead to Financial Independence and Early 
Retirement or Financial Ruin?.'' Witnesses were Alexis 
Goldstein, Director of Financial Policy, Open Markets 
Institute, Sarah Hammer, Managing Director, Stevens Center for 
Innovation in Finance at the Wharton School of the University 
of Pennsylvania, Christine Parker, Partner, Reed Smith LLP, Eva 
Su, Analyst in Financial Economics, Congressional Research 
Service, and Peter Van Valkenburgh, Director of Research, Coin 
Center.
    On July 15, 2021, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``CDBG Disaster 
Recovery: States, Cities, and Denials of Funding.'' Witnesses 
were Carol Haddock, Director, Houston Department of Public 
Works and Engineering, Judge Lina Hidalgo, County Judge, Harris 
County, Heather Lagrone, Deputy Director for Community 
Development and Revitalization, Texas General Land Office, 
Sarah Saadian, VP of Public Policy, National Low Income Housing 
Coalition, and Stephen Begg, Deputy Inspector General, Office 
of the Inspector General, Department of Housing and Urban 
Development.
    On October 14, 2021, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``Cashed Out: How a 
Cashless Economy Impacts Disadvantaged Communities and 
Peoples.'' Witnesses were John Breyault, Vice President of 
Public Policy, Telecommunications, and Fraud, National 
Consumers League, Beverly Brown Ruggia, Financial Justice 
Program Director, New Jersey Citizen Action, Norma Garcia, 
Policy Counsel and Director, Mission Economic Development 
Agency (MEDA)--San Francisco, Representative Alex Valdez, 
Member, Colorado House of Representatives, and Todd Zywicki, 
Professor of Law, George Mason University Antonin Scalia School 
of Law and Senior Fellow, Cato Institute.
    On January 19, 2022, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``Ensuring Equitable 
Delivery of Disaster Benefits to Vulnerable Communities and 
Peoples: An Examination of GAO's Findings of the CDBG 
Program.'' Witnesses were Daniel Garcia-Diaz, Managing 
Director, Financial Markets and Community Investment, U.S. 
Government Accountability Office, Diane Yentel, President and 
CEO, National Low Income Housing Coalition, Chrishelle Calhoun-
Palay, Director, HOME Coalition, Andreanecia Morris, Executive 
Director, Housing NOLA, and Stephen Begg, Deputy Inspector 
General, U.S. Department of Housing and Urban Development 
Office of Inspector General.
    On April 5, 2022, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``An Enduring Legacy: 
The Role of Financial Institutions in the Horrors of Slavery 
and the Need for Atonement.'' Witnesses were Dr. Daina Ramey 
Berry, Oliver H. Radkey Regents Professor and Chair of the 
Department of History, University of Texas at Austin, Dr. 
William A. Darity, Jr., Samuel DuBois Cook Professor of Public 
Policy, African and African American Studies, Economics, and 
Business, Duke University, Dr. Sven Beckert, Laird Bell 
Professor of History, Harvard University, Nikitra Bailey, 
Senior Vice President of Public Policy, National Fair Housing 
Alliance, and Dr. Sarah Federman, Assistant Professor at the 
School of Public and International Affairs, University of 
Baltimore.
    On June 28, 2022, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``Where Have All the 
Houses Gone? Private Equity, Single Family Rentals, and 
America's Neighborhoods.'' Witnesses were Jim Baker, Executive 
Director, Private Equity Shareholder Project, Shad Bogany, 
Agent, Better Homes and Gardens, Sofia Lopez, Deputy Campaign 
Director of Housing, Action Center on Race and the Economy, 
Elora Lee Raymond, Assistant Professor, Georgia Institute of 
Technology, and Jenny Schuetz, Senior Fellow, Brookings 
Institute.
    On July 19, 2022, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``Thoughts and Prayers 
Are Not Enough: How Mass Shootings Harm Communities, Local 
Economies, and Economic Growth.'' Witnesses were Abel Brodeur, 
Associate Professor, University of Ottawa, Byron Brown, Mayor, 
City of Buffalo, New York, Sarah Burd-Sharps, Senior Director 
of Research, Everytown for Gun Safety, Ruchi Singh, Assistant 
Professor, Terry College of Business at University of Georgia, 
and Brian Ingram, Founder and CEO, Purpose Restaurants.
    On December 7, 2022, the Subcommittee on Oversight and 
Investigation held a hearing entitled, ``An Enduring Legacy: 
The Role of Financial Institutions in the Horrors of Slavery 
and the Need for Atonement, Part Two.'' Witnesses were William 
A. Darity, Jr., Professor of Public Policy, Duke University, 
Dania V. Francis, Assistant Professor of Economics, University 
of Massachusetts Boston, Lily Roberts, Managing Director, 
Poverty to Prosperity, Center for American Progress, Seth 
Rockman, Associate Professor of History, Brown University, and 
Sarah Federman, Assistant Professor of Conflict Resolution, 
University of San Diego.

                   TASK FORCE ON FINANCIAL TECHNOLOGY

    On June 15, 2021, the Task Force on Financial Technology 
held a hearing entitled, ``Digitizing the Dollar: Investigating 
the Technological Infrastructure, Privacy, and Financial 
Inclusion Implications of Central Bank Digital Currencies.'' 
Witnesses were Carmelle Cadet, Founder and CEO, EMTECH, 
Jonathan Dharmapalan, Founder and CEO, eCurrency, Rohan Grey, 
Assistant Professor of Law, Willamette University, Dr. Neha 
Narula, Director of the Digital Currency Initiative, MIT Media 
Lab, and Dr. Jenny Gesley, Foreign Law Specialist, Library of 
Congress.
    On September 21, 2021, the Task Force on Financial 
Technology held a hearing entitled, ``Preserving the Right of 
Consumers to Access Personal Financial Data.'' Witnesses were 
Tom Carpenter, Director of Public Affairs, Financial Data 
Exchange, Ral Carrillo, Associate Research Scholar, Yale Law 
School; Deputy Director, Law and Political Economy Project, 
Kelly Thompson Cochran, Deputy Director, FinRegLab, Chi Chi Wu, 
Staff Attorney, National Consumer Law Center, and Steve Smith, 
Co-Founder and CEO, Finicity.
    On November 2, 2021, the Task Force on Financial Technology 
held a hearing entitled, ``Buy Now, Pay More Later? 
Investigating Risks and Benefits of BNPL and Other Emerging 
Fintech Cash Flow Products.'' Witnesses were Dr. Kristen 
Broady, Fellow in the Brookings Metropolitan Policy Program, 
Brookings Institution, Penny Lee, CEO, Financial Technology 
Association, Lauren Saunders, Associate Director, National 
Consumer Law Center, Marisabel Torres, Director of California 
Policy, Center for Responsible Lending, and Brian Tate, CEO and 
President, Innovative Payments Association.
    On April 28, 2022, the Task Force on Financial Technology 
held a hearing entitled, ``What's in Your Digital Wallet? A 
Review of Recent Trends to Mobile Banking and Payments.'' 
Witnesses were Ral Carrillo, Associate Research Scholar, Yale 
Law School; Deputy Director, Law and Political Economy Project, 
Mishi Choudhary, Legal Director, Software Freedom Law Center, 
Renita Marcellin, Senior Policy Analyst, Americans for 
Financial Reform, Kia McAllister-Young, Director, America 
Saves, Consumer Federation of America, and Scott Talbott, 
Senior Vice President of Government Affairs, Electronic 
Transactions Association.
    On June 30, 2022, the Task Force on Financial Technology 
held a hearing entitled, ``Combatting Tech Bro Culture: 
Understanding Obstacles to Investments in Diverse-Owned 
Fintechs.'' Witnesses were Jenny Abramson, Founder & Managing 
Partner, Rethink Impact, Sallie Krawcheck, CEO and Co-Founder, 
Ellevest, Marceau Michel, Founder, Black Founders Matter, 
Wemimo Abbey, Co-Founder and Co-CEO, Esusu, and Maryam Haque, 
Executive Director, Venture Forward.

                  TASK FORCE ON ARTIFICAL INTELLIGENCE

    On May 7, 2021, the Task Force on Artificial Intelligence 
held a hearing entitled, ``Equitable Algorithms: How Human-
Centered AI Can Address Systemic Racism and Racial Justice in 
Housing and Financial Services.'' Witnesses were Stephen Hayes, 
Partner, Relman Colfax PLLC, Melissa Koide, CEO, FinRegLab, 
Lisa Rice, President and CEO, National Fair Housing Alliance, 
Kareem Saleh, Founder, FairPlay AI, and Dave Girouard, Founder 
& CEO, Upstart.
    On July 16, 2021, the Task Force on Artificial Intelligence 
held a hearing entitled, ``I Am Who I Say I Am: Verifying 
Identity while Preserving Privacy in the Digital Age.'' 
Witnesses were Jeremy Grant, Coordinator, Better Identity 
Coalition, David Kelts, Director of Product Development, GET 
Group North America, Dr. Louise Maynard-Atem, Research Lead, 
Women in Identity, Professor Elizabeth Renieris, Founding 
Director, Notre-Dame-IBM Technology Ethics Lab, University of 
Notre Dame, and Victor Fredung, Chief Executive Officer, Shufti 
Pro.
    On October 13, 2021, the Task Force on Artificial 
Intelligence held a hearing entitled, ``Beyond I, Robot: 
Ethics, Artificial Intelligence, and the Digital Age.'' 
Witnesses were Meredith Broussard, Associate Professor, Arthur 
L. Carter Journalism Institute of New York University, Meg 
King, Director, Science and Technology Innovation Program, The 
Wilson Center, Miriam Vogel, President and CEO, EqualAI, 
Jeffery Yong, Principal Advisor, Financial Stability Institute, 
Bank for International Settlements, and Aaron Cooper, Vice 
President for Global Policy, BSA--The Software Alliance, Inc.
    On May 13, 2022, the Task Force on Artificial Intelligence 
held a hearing entitled, ``Keeping Up with the Codes--Using AI 
for Effective RegTech.'' Witnesses were Kevin Greenfield, 
Deputy Comptroller for Operational Risk Policy, Office of the 
Comptroller of the Currency (OCC), Melanie Hall, Commissioner, 
Division of Banking and Financial Institutions, State of 
Montana, and Chair, Board of Directors, Conference of State 
Bank Supervisors (CSBS), Kelly Lay, Director, Office of 
Examination and Insurance, National Credit Union Administration 
(NCUA), and Jessica Rusu, Chief Data Information and 
Intelligence Officer, Financial Conduct Authority (FCA), United 
Kingdom.

  OVERSIGHT PLAN OF THE COMMITTEE ON FINANCIAL SERVICES FOR THE 117th 
                                CONGRESS

    Pursuant to clause 2(d)(1) of rule X of the House of 
Representatives, the following constitutes the oversight plan 
of the Committee on Financial Services for the 117th Congress. 
It includes areas in which the Committee and its subcommittees 
expect to conduct oversight during the 117th Congress; it does 
not preclude oversight or investigation of additional matters 
or programs as they arise. The Committee will consult, as 
appropriate, with other Committees of the House that may share 
jurisdiction on any of the subjects listed below.

                       COVID-19 Pandemic Response

    Ensure Equitable Administration and Distribution of Housing 
Relief Funds. The Committee will conduct oversight of federal 
agencies', grantees', and industry's administration of, and 
compliance with, COVID-19 housing protections and relief 
programs to ensure proper implementation, including compliance 
with fair housing and fair lending laws, and equitable 
treatment of, and allocations of funds to, hardest hit 
communities. The Committee will also review the effectiveness 
of eviction and foreclosure moratoria and mortgage forbearance 
in keeping people safely housed during the pandemic.
    Support for Minority Depository Institutions (MDIs) and 
Community Development Financial Institutions (CDFIs). The 
Committee will examine opportunities to support community 
financial institutions such as MDIs and CDFIs to ensure that 
they can continue to assist minority entrepreneurs that are 
overlooked by traditional financial institutions, particularly 
during the COVID-19 pandemic. The Committee will also review 
legislation that will direct critical sources of capital and 
investment to CDFIs and MDIs to ensure that these institutions 
have the tools they need to serve their communities.
    Protecting Consumers During the Pandemic. The Committee 
will examine how consumers have been affected by the pandemic, 
including to the degree financial institutions utilize the 
flexibility provided by Congress and regulators to provide 
forbearance and loan modifications for affected consumers. The 
Committee will also examine consumer impacts and protections 
relating to credit reporting and debt collection, and the 
degree to which unfair, deceptive, and abusive acts or 
practices committed during the pandemic are combatted through 
robust enforcement.
    Global Response to the Pandemic. The Committee will 
continue to oversee the role international financial 
institutions, including the International Monetary Fund and the 
World Bank, are playing in the international response to the 
COVID-19 pandemic, including efforts to ensure an inclusive and 
sustainable recovery.
    Defense Production Act. The Committee will monitor the 
effectiveness of the Defense Production Act and its individual 
authorities in promoting national security and recovery from 
natural disasters. In particular, the Committee will monitor 
the use of the Act to boost production of medical supplies and 
equipment to combat the Covid-19 Pandemic.

                   Housing and Community Development

    Department of Housing and Urban Development (HUD) and U.S. 
Department of Agriculture (USDA). The Committee will examine 
the budget requests submitted by HUD and USDA for programs 
under the Committee's jurisdiction, including consideration of 
any legislative recommendations included in those requests. The 
Committee will also review HUD's and the Rural Housing 
Service's (RHS) general codes of conduct and other policies.
    Homelessness. The Committee will examine the current state 
of homelessness in the United States of America and the federal 
response to ending homelessness, including oversight of the 
Continuum of Care (CoC) and Emergency Solutions Grant (ESG) 
programs under the Department of Housing and Urban Development 
(HUD), the HUD Veteran Affairs Supported Housing program (HUD-
VASH), as well as efforts by the U.S. Interagency Council on 
Homelessness (USICH) to coordinate various federal agencies 
towards the national goals to end homelessness. The Committee 
will review the causes and possible solutions to address 
homelessness, including in parts of the country where 
homelessness has reached crisis levels. The Committee will also 
consider ways to better serve those who are experiencing or at 
risk of homelessness.
    Rental Housing Crisis. The Committee will examine the 
current rental housing crisis that is burdening families across 
the country with unaffordable rents. The Committee will examine 
the role of existing federal housing programs in addressing the 
rental housing crisis, including public housing, Section 8 
Housing Choice Vouchers (HCVs), Section 8 project-based rental 
assistance (PBRA), the Section 202 Supportive Housing for the 
Elderly program, the Section 811 Supportive Housing for Persons 
with Disabilities program, the HOME Investment Partnerships 
program (HOME), the Low Income Housing Tax Credit (LIHTC) 
program, and the Housing Trust Fund (HTF). As part of its 
review, the Committee will examine the conduct of landlords 
participating in these programs as well as investigate HUD's 
oversight of landlord participants to ensure regulations are 
complied with. The Committee will also review the limitations 
of existing programs at current funding levels.
    The Committee will consider solutions to address the rental 
housing crisis, including proposals to enhance preservation of 
affordable rental housing, increase affordable rental housing 
opportunities through development of additional rental stock 
and robust rental assistance, and ensure that affordable rental 
housing is accessible and integrated for persons who are 
seniors and/or have a disability.
    Public Housing. The Committee will examine the rising 
maintenance and capital needs of the aging public housing stock 
and the limitations of current federal funding levels to 
address these needs. As part of its examination, the Committee 
will investigate the presence of lead, mold, and other health 
hazards in the nation's public housing system and seek ways to 
ensure capital repairs are made in order to improve the health 
and well-being of residents. The Committee will review the role 
of public housing as part of a federal strategy to address 
affordable housing needs and will monitor HUD's use of the 
Rental Assistance Demonstration (RAD) and the demolition and 
disposition processes as they affect public housing and its 
residents. The Committee will monitor HUD's implementation and 
oversight of the Moving to Work (MTW) demonstration program and 
the effects of such programs on tenants.
    Rural Housing. The Committee will examine the affordable 
housing needs in rural communities and the limitations in 
meeting those needs through existing programs due to current 
funding levels. In particular, the Committee will examine the 
aging stock of properties with Section 515 Rural Rental Housing 
Loans and 516 Farm Labor Housing Loans, and USDA's strategy for 
preserving these properties and preventing tenant displacement. 
The Committee will consider legislation to help preserve these 
properties and prevent the displacement of tenants. The 
Committee will also monitor USDA's management of the Section 
521 Rental Assistance (RA) program, the Rural Development 
Voucher program, the Section 502 Direct and Guaranteed Loan 
programs the Multifamily Housing Preservation and 
Revitalization Demonstration Loans and Grants, and the Section 
523 Mutual Self-Help grant program.
    Community Development. The Committee will consider 
opportunities to better leverage and coordinate housing 
development with neighborhood resources such as transportation 
and community centers through programs like the Community 
Development Block Grant (CDBG).
    Climate Change and Green Housing. The Committee will 
examine proposals to address historic and emerging effects of 
climate change and environmental hazards in housing and on 
communities living in areas at disproportionate risk. The 
Committee will also consider opportunities to incentivize 
greener and more energy efficient measures across the housing 
market and industry, including through comprehensive risk and 
environmental assessments.
    Disaster Recovery, Resilience, and Sustainable Development. 
The Committee will conduct oversight of the Community 
Development Block Grant Disaster Recovery (CDBG-DR) program and 
ongoing efforts to provide relief and bolster resilience in 
disaster-stricken areas. The Committee will review proposals to 
permanently authorize the CDBG-DR program and enhance our 
nation's ability to mitigate and withstand future disasters in 
the face of climate change, which is contributing to the 
frequency and magnitude of natural disasters.
    Fair Housing. The Committee will conduct oversight of fair 
housing enforcement under HUD, including the activities 
conducted by the Office of Fair Housing and Equal Opportunity 
(FHEO). The Committee will also monitor HUD's ongoing 
rulemaking processes on the Affirmatively Furthering Fair 
Housing (AFFH) mandate and the disparate impact standard under 
the Fair Housing Act. The Committee will also monitor other 
federal agencies' equitable implementation and administration 
of federal housing funds and programs, as mandated under the 
Fair Housing Act, such as the Department of the Treasury, the 
Department of Agriculture, and the Neighborhood Revitalization 
Corporation (NeighborWorks).
    Native American and Native Hawaiian Housing. The Committee 
will conduct oversight of programs under the Native American 
Housing and Self Determination Act of 1996 (NAHASDA) and 
consider proposals to reauthorize those programs and ensure 
inclusion of the descendants of Freedmen. The Committee will 
also monitor HUD's administration of the recent appropriation 
of an additional $100 million for the Native American Housing 
Block Grants program, which will be allocated through a 
competitive grant process.
    Housing Finance and Access to Homeownership. The Committee 
will examine the health of our housing finance system and the 
extent to which it is serving all creditworthy borrowers, 
especially low and moderate income (LMI) borrowers, borrowers 
of color, rural borrowers, and other underserved borrowers. The 
Committee will consider proposals to reform the housing finance 
system, including in real estate appraisals.
    Federal Housing Finance Agency (FHFA), Federal National 
Mortgage Association (Fannie Mae), Federal Home Loan Mortgage 
Corporation (Freddie Mac), Federal Home Loan Banks (FHLBs). The 
Committee will monitor the operations, activities and 
initiatives of the FHFA, and review its general code of conduct 
and other agency policies. The Committee will monitor Fannie 
Mae and Freddie Mac's activities under conservatorship, 
including their response to ongoing pandemic-related housing 
needs. The Committee will also review the FHFA's initiatives 
related to capital held by Fannie Mae and Freddie Mac, 
especially as such initiatives affect access to credit. The 
Committee will monitor the capital requirements and financial 
stability of the FHLB system, as well as the FHLB system's 
ability to fulfill its housing and community economic 
development mission and provide liquidity to member banks in a 
safe and sound manner.
    Government National Mortgage Association (Ginnie Mae). The 
Committee will examine Ginnie Mae to ensure that the agency has 
the necessary resources, procedures, and oversight to manage 
its portfolio, including Ginnie Mae's response to its growing 
exposure to nonbank risks.
    Federal Housing Administration (FHA). The Committee will 
examine FHA to ensure that it has the necessary resources, 
procedures, and oversight to manage its portfolio, including 
ongoing challenges due to an aging technological 
infrastructure. The Committee will also review the FHA's 
premium rates.
    Private Mortgage Insurance (PMI). The Committee will 
examine the role that private mortgage insurance plays in the 
housing finance system in providing access to homeownership and 
consider the effects of capital requirements placed on PMI 
companies by Fannie Mae and Freddie Mac.
    Mortgage Servicing. The Committee will examine the adequacy 
of existing regulatory requirements and oversight of the 
servicing industry, including the adequacy of the federal 
response to the growing share of nonbank servicers. The 
Committee will consider whether FHFA needs additional authority 
to establish prudential management and operations standards for 
its servicers. The Committee will also consider legislative 
solutions to enhance FHA's oversight and enforcement of its 
loss mitigation requirements and to address policies that may 
cause unnecessary foreclosures, including foreclosures on 
seniors with reverse mortgages and on those who have been 
affected by natural disasters and national emergencies.

                               Insurance

    National Flood Insurance Program (NFIP). The Committee will 
examine the role of the NFIP in providing affordable insurance 
to homeowners, renters, and businesses, investing in 
mitigation, and providing maps to aid communities in their 
flood plain management efforts. The Committee will examine 
proposals to reauthorize and reform the NFIP to enhance 
affordability, mapping, and mitigation, and to improve the 
efficiency and transparency associated with the processing of 
claims submitted by policyholders. The NFIP is set to expire on 
September 30, 2021.
    Federal Insurance Office (FIO). The Committee will conduct 
oversight of FIO's work on domestic and international insurance 
policy, including the extent to which traditionally underserved 
communities and consumers have access to affordable insurance 
products
    Climate Risk. The Committee will examine the extent to 
which insurance companies' exposure to the physical and 
transition risks of climate change is being adequately 
measured.
    Terrorism Risk Insurance Program. The Committee will 
conduct oversight over the Terrorism Risk Insurance Program, 
which was reauthorized in the last Congress.
    Business Interruption Insurance. The Committee will monitor 
and examine the extent to which businesses were affected by a 
lack of business interruption coverage during the COVID-19 
crisis, and consider proposals aimed at supporting businesses 
disrupted by pandemics and other public health crises.
    Insurance Sector Supervision. The Committee will monitor 
the insurance sector generally, which may include examining the 
role of capital requirements in the insurance sector, including 
state, federal, and international efforts to revise capital 
requirements for insurance companies, the application of 
federal capital requirements for insurance companies that own 
depository institutions, the role of state guaranty funds, 
issues related to consumer protection and discrimination in the 
insurance sector, and issues or gaps in the regulation of 
insurers that could contribute to a systemic crisis in the 
insurance industry or the U.S. financial system. The Committee 
will also review implementation of the Military Personnel 
Financial Services Protection Act, which was passed in response 
to abuses in the marketing and sale of securities and life 
insurance products to servicemembers.
    International Insurance Developments. The Committee will 
monitor developments related to international regulatory 
standards for insurance companies, including actions taken by 
the Financial Stability Board, the International Association of 
Insurance Supervisors, and the Organization for Economic 
Cooperation and Development. The Committee will also monitor 
any developments related to covered agreements made pursuant to 
the Dodd-Frank Wall Street Reform and Consumer Protection Act 
of 2010 (Dodd-Frank Act).
    Cyber Insurance. The Committee may examine developments 
related to the market for cyber insurance and the insurance 
industry's susceptibility to cybersecurity risks.
    Auto Insurance. The Committee may review the state of the 
automobile insurance market in America with a particular focus 
on issues of access and affordability for lower- and middle-
income Americans, minorities, and traditionally underserved 
communities.

             Consumer Protection and Financial Institutions

    Protecting Consumers and Consumer Financial Protection 
Bureau. The Committee will monitor the current state of 
consumer financial protection by assessing the adequacy of 
protections for all consumers. The Committee will examine any 
unique challenges experienced in, and faced by, traditionally 
underserved communities and populations in obtaining mainstream 
consumer financial products and services, including the root 
causes for credit deserts in rural and urban communities that 
have resulted in millions of unbanked and underbanked 
consumers. The Committee will consider methods to improve the 
financial well-being of other vulnerable consumers such as 
older Americans, active- duty servicemembers, veterans, 
students, young adults, racial and ethnic minorities, and 
immigrants.
    The Committee will also closely examine the exercise of the 
regulatory, supervisory, and enforcement power of the Consumer 
Financial Protection Bureau (Consumer Bureau). The Committee 
will conduct oversight to ensure that the Consumer Bureau is 
fully complying with both the spirit and letter of its purpose, 
objectives, and mission articulated under Title X of the Dodd-
Frank Act to combat unfair, deceptive, abusive acts and 
practices in the offering and provision of consumer financial 
products.
    Student Debt Crisis. The Committee will examine the 
financial and economic implications of the growing student debt 
crisis, including how a borrower's inability to repay student 
debt can serve as a barrier to homeownership, entrepreneurship, 
and other economic activities. The Committee will also examine 
the disproportionate impact the student debt crisis has on 
borrowers of color and low-income borrowers. The Committee will 
monitor the effectiveness of student borrower protections, 
including as it relates to private education loan servicing 
standards.
    Consumer Protections for Military Servicemembers. The 
Committee will examine the adequacy, supervision, and 
enforcement of all consumer financial protections, including 
those provided through the Military Lending Act (MLA) and the 
Servicemembers Civil Relief Act (SCRA), afforded to active-duty 
servicemembers and their families.
    High Cost Short-Term Credit and Debt Collection. The 
Committee will review the effectiveness and extent to which 
consumer protections are implemented and enforced with respect 
to payday lending, other forms of short-term credit, and debt 
collection. The Committee will also review the use of overdraft 
services, and its impact on consumers.
    Mandatory Arbitration. The Committee will monitor the use 
and effect of mandatory pre-dispute arbitration agreements, and 
similar provisions, that limit consumers' ability to 
participate in a class action case against financial 
institutions when they have been harmed.
    Fair Access to Affordable Consumer Financial Products and 
Services. The Committee will consider ways to expand access to 
mainstream financial services among traditionally underserved 
segments of the U.S. population. The Committee will evaluate 
proposals to update certain Federal consumer financial laws to 
ensure that they are meeting the evolving financial needs of 
consumers.
    Discrimination in Lending. The Committee will examine the 
effectiveness of regulators' fair lending oversight and 
enforcement efforts to ensure that the Federal government does 
not tolerate discrimination. The Committee will also examine 
the quantity and quality of data, including that provided under 
the Home Mortgage Disclosure Act (HMDA), to ensure 
discriminatory policies practices can be identified and 
addressed.
    Community Reinvestment Act (CRA). The Committee will 
monitor any legislative and regulatory proposals to reform the 
Community Reinvestment Act of 1977.
    Department of the Treasury, Financial Stability Oversight 
Council (FSOC) and Office of Financial Research (OFR). The 
Committee will review the operations and resources of the 
Department of the Treasury, as well as its code of conduct and 
other policies. The Committee will monitor financial stability 
and systemic risk issues, including all matters relating to the 
operations, activities, and initiatives of the FSOC and OFR to 
identify and mitigate threats to financial stability in the 
United States. This will also include a review of risks posed 
by nonbank financial institutions, including hedge funds, and 
shifts in the mortgage market, including the subprime market, 
from bank financing to non-bank financing.
    Supervision and Enforcement of Financial Institutions. The 
Committee will review the operations, activities, initiatives, 
codes of conduct and other agency policies of the Federal 
Reserve Board of Governors, the Office of the Comptroller of 
the Currency (OCC), Federal Deposit Insurance Corporation 
(FDIC), and National Credit Union Administration (NCUA). This 
work will include examining financial regulators' supervision 
of the banking, thrift and credit union industries for safety 
and soundness and compliance with laws and regulations. The 
Committee will also monitor their enforcement activities, 
including ensuring the compliance of regulated institutions 
with existing consent orders, settlement agreements, deferred 
prosecution agreements, or similar arrangements. The Committee 
will also evaluate the supervision of nonbank financial 
companies by the Consumer Bureau.
    Enhanced Prudential Standards for Large Banks. The 
Committee will monitor how enhanced prudential standards are 
being applied to the largest banks operating in the United 
States, including foreign-based institutions. This will include 
oversight of the adequacy of capital, liquidity, leverage and 
stress testing requirements. The Committee will oversee efforts 
to promote the orderly resolution of any large financial 
institution operating in the United States that fails, 
including through Dodd-Frank Act's living wills requirements 
and the Orderly Liquidity Authority. The Committee will examine 
the financial regulators' implementation of Section 619 of the 
Dodd-Frank Act, known as the ``Volcker Rule.'' The Committee 
will also monitor the structure, ownership, activities and 
risk-taking by large depository institutions and their holding 
companies.
    Bank Mergers and Market Concentration. The Committee will 
monitor market concentration and merger activity involving 
banks and other financial companies. The Committee will examine 
the standards for regulatory review of such mergers, and 
consider the impacts of ongoing merger activity, especially as 
it relates to larger financial institutions, including the 
impact that mergers have on competition, consumers, workers, 
communities, and financial stability.
    Residential and Commercial Real Estate Mortgage Loans. The 
Committee will monitor the residential and commercial real 
estate mortgage markets, including examining access to 
affordable and fair home mortgage lending, and the 
effectiveness of disclosures provided to borrowers about the 
terms and conditions of these loans. The Committee will also 
review proposals related to home improvement loans for 
improving the energy efficiency of a house.
    Community Financial Institutions, including CDFIs and MDIs. 
The Committee will review issues related to the health, growth, 
safety, and soundness of community banks and credit unions, as 
well as their role in lending to small businesses and promoting 
economic growth. This will include examining the status of MDIs 
and CDFIs, and the important role they play in providing access 
to credit for consumers as well as small and minority-owned 
businesses.
    Access to Credit and Borrower Protections for Small 
Businesses. The Committee will consider proposals that 
facilitate access to affordable credit for small businesses, 
and will examine the ability for the public, regulators, and 
Congress to monitor trends in small business lending. The 
Committee will also review the effectiveness of the State Small 
Business Credit Initiative (SSBCI), and consider proposals to 
reauthorize the SSBCI in response to the pandemic. Moreover, 
the Committee will examine and consider proposals to strengthen 
borrower protections for small businesses.
    Cybersecurity and Privacy. The Committee will monitor the 
effectiveness of cybersecurity in the U.S. financial system. 
The Committee will evaluate the current level of safeguards 
relating to protecting the security and confidentiality of 
personally identifiable information from loss, unauthorized 
access, or misuse. The Committee will also examine the 
effectiveness of data breach notifications and issues related 
to consumer privacy and consumer control of their own data, 
including sensitive financial and credit information.
    Credit Scores and Credit Reports. The Committee will 
examine the state of the credit reporting system, including the 
accuracy of credit scores to assess creditworthiness, the 
impact medical debt can have on credit scores, and the 
difficulties consumers face in correcting inaccurate 
information in their credit file. The Committee will also 
examine additional data and methods that have the potential to 
improve assessing the creditworthiness of borrowers with 
appropriate safeguards and protections.
    Payments System. The Committee will review government and 
private sector efforts to improve the timeliness and 
effectiveness of the payments system in the United States, and 
its potential effect on consumers and small businesses.
    Credit and other Payment Cards. The Committee will monitor 
payment card industry practices, including consumer protections 
with respect to the use of credit cards, debit cards, and 
prepaid cards. The Committee will also examine the 
effectiveness of the Credit Card Accountability Responsibility 
and Disclosure (CARD) Act of 2009.
    Money Services Businesses, Remittances, and De-risking. The 
Committee will examine the operations of money services 
businesses and the role they play in the financial system. The 
Committee will also oversee the ability of consumers to utilize 
financial services to affordably remit cross-border payments, 
as well as consider proposals to mitigate financial 
institutions engaged in de-risking that results in unnecessary 
account closures.
    Financial Education. The Committee will review efforts to 
promote greater financial literacy among consumers, 
particularly matters affecting traditionally underserved 
communities and populations.
    Cannabis Banking. The Committee will examine the 
difficulties, including public safety concerns, that cannabis-
related businesses experience as a result of being unable to 
access basic banking services. The Committee will also review 
legislative proposals that alleviate legal and compliance risks 
for financial institutions related to providing such services 
to cannabis-related businesses in states where cannabis use, 
sale, or distribution is authorized.
    Climate Risk. The Committee will monitor and evaluate 
efforts by the Treasury Department, Financial Stability 
Oversight Council (FSOC), Federal Reserve and other prudential 
regulators to integrate risks associated with climate change 
into their supervisory framework.

                            Monetary Policy

    The Federal Reserve System. The Committee will conduct 
oversight of the operations and activities of the Federal 
Reserve System, including its conduct of monetary policy, its 
regulation and supervision of the financial services sector, 
its role in the payment system, and its susceptibility to 
cybersecurity threats and other security risks. The Committee 
will convene hearings to receive the testimony of the Chair of 
the Board of Governors of the Federal Reserve System and 
related semi-annual reports on the conduct of monetary policy. 
As part of this effort, the Committee will review issues 
associated with monetary policy and the state of the economy, 
including implementation of the updated monetary policy 
framework adopted by the Federal Open Market Committee in 2020, 
and whether the current path of monetary policy is consistent 
with the Federal Reserve's dual mandate of price stability and 
maximum employment. The Committee will continue to conduct 
oversight of the Federal Reserve's extraordinary actions to 
stimulate economic recovery in response to the COVID-19 
pandemic, including through quarterly hearings on the CARES Act 
from the Treasury Secretary and Federal Reserve Chair, and 
oversight over any emergency lending facilities set up to 
respond to economic conditions. The Committee will examine the 
implications of the Fed's emergency lending and large-scale 
asset purchases have for economic recovery, financial 
stability, and the mechanics of monetary policy.
    The Economy and its Impact on Living Standards. The 
Committee will examine the extent to which changes in the 
economy, and in particular, changes in labor and capital 
markets, public policy, and trade have altered the way in which 
policymakers should think about the relationship between 
economic growth, productivity growth, and growth in employment 
and incomes. The Committee will examine these relationships to 
determine policy responses that will increase our ability to 
improve the standard of living for American families.
    Coins and Currency. The Committee will conduct oversight of 
the printing and minting of U.S. currency and coins, including 
the activities of the Bureau of the Mint and the Bureau of 
Engraving and Printing, and of the operation of programs 
administered by the U.S. Mint for producing congressionally 
authorized commemorative coins, bullion coins for investors, 
and Congressional gold medals. The Committee will review 
efforts to detect and combat the counterfeiting of U.S. coins 
and currency in the United States and abroad. The Committee 
will also examine methods to reduce the cost of minting coins 
using alternative metals and will examine efforts to make 
currency more accessible to the visually impaired. The 
Committee will also consider how to ensure that depictions and 
representations on coins and currency fully represent the 
diversity of the United States. The Committee will also monitor 
and evaluate the Federal Reserve's research and potential 
development of a central bank digital currency.

                Investor Protection and Entrepreneurship

    Securities and Exchange Commission (SEC). The Committee 
will examine the budget, operations and organizational 
structure of the SEC, and review any new rulemakings.
    Investor Confidence. The Committee will examine the factors 
affecting investor confidence in U.S. capital markets, 
including investor perspectives on the quality, quantity, and 
utility of investment-related disclosures; the effectiveness of 
public companies' internal controls over financial reporting; 
corporate accountability to shareholders; and, the costs of 
trading securities. The Committee will also review the effect 
on investor confidence of fraud and other misconduct and the 
SEC's efforts to hold bad actors accountable.
    Standard of Care Owed by Financial Advisers and Broker 
Dealers. The Committee will examine the SEC's rulemaking 
package and interpretations surrounding Regulation Best 
Interest and Form CRS Relationship Summary. The Committee will 
review the SEC's efforts to revise those regulations and 
interpretations consistent with Section 913(g) of the Dodd-
Frank Act, to protect investors and reduce confusion by 
requiring investment advisers and broker dealers to comply with 
the same fiduciary standard of care. The Committee will also 
consider legislation related to the standard of care owed to 
investors by financial advisers.
    Mandatory Arbitration. The Committee will examine the 
effect of mandatory arbitration requirements on securities 
investors, as well as the balance, fairness, and efficiency of 
the current arbitration system.
    Entrepreneurship. The Committee will monitor market 
conditions affecting entrepreneurs' access to capital, with 
emphasis on the capital formation efforts of small businesses, 
including any unique challenges faced by minority-, women-, and 
veteran-owned small businesses. Additionally, the Committee 
will examine the conduct of intermediaries in the capital 
formation process, such as anti-competitive behavior among 
underwriters of initial public offerings (IPOs). The Committee 
will also consider legislative proposals to promote 
entrepreneurship and enhance the attractiveness of U.S. public 
equity markets to investors and businesses.
    Corporate Governance. The Committee will review 
developments and issues concerning corporate governance of 
public companies, including proposals to increase 
accountability to shareholders through improved shareholder 
access to management's proxy, shareholder nomination of 
directors, and majority voting. The Committee will also examine 
ways to improve the integrity of the shareholder voting process 
and corporate sustainability disclosures, including those 
related to the effects of climate change.
    Executive Compensation. The Committee will review the SEC's 
implementation of regulations requiring greater transparency in 
disclosures of executive compensation arrangements, including 
the SEC's and the other federal financial agencies' progress in 
completing related rulemakings mandated under the Dodd-Frank 
Act.
    Capital Formation in Private and Public Markets. The 
Committee will examine the private and public capital markets 
and the factors U.S. companies evaluate when deciding to go 
public, such as underwriting fees. The Committee will monitor 
the use of new and expanded private offering exemptions from 
the JOBS Act, including Regulation D, Regulation A+, and 
Regulation Crowdfunding, and examine ways to improve investor 
protections in private offerings. The Committee will examine 
the current definition of ``accredited investors'' and ways to 
improve that definition to ensure that those investors have the 
financial sophistication and wherewithal to invest in private 
offerings.

                            Capital Markets

    Self-Regulatory Organizations (SROs). The Committee will 
monitor the operations, initiatives, and activities of SROs, 
including the Municipal Securities Rulemaking Board (MSRB) and 
Financial Industry Regulatory Authority, Inc. (FINRA). The 
Committee also will consider limitations or regulatory gaps in 
the current SRO system and ways to streamline and strengthen 
the regulatory, compliance, examination, and enforcement 
structure.
    Hedge Funds and Private Pools of Capital. The Committee 
will examine the current state of the hedge fund, private 
equity and alternative investment industry. The Committee will 
review the role hedge funds and private pools of capital serve 
in the capital markets, and their interaction with investors, 
financial intermediaries, and public companies. The Committee 
will also examine hedge funds and private equity funds as 
investment vehicles for pension funds.
    Investment Companies. The Committee will review the current 
state of regulation of investment companies and their advisers 
with respect to mutual fund operations, governance, disclosure, 
and sales in the States and Territories. The Committee also 
will review the effectiveness and efficiency of the approval 
process for new products, such as exchange-traded funds, and 
the SEC's efforts to standardize that process. The Committee 
will also review the role investment companies played in Puerto 
Rico's fiscal crisis. The Committee will review Real Estate 
Investment Trusts (REITs) as investment vehicles and how the 
industry uses REITs to finance various projects, including the 
financing of private prisons and immigration detention centers.
    Credit Rating Agencies. The Committee will examine the role 
that Nationally Recognized Statistical Ratings Organizations 
(NRSROs), also known as credit rating agencies, play in the 
U.S. capital markets, and review the effectiveness of the SEC's 
regulation and oversight of NRSROs. The Committee will also 
examine ways to limit conflicts associated with NRSROs 
compensation, approaches to increase their accountability, and 
the possibility of regulatory fee assessments.
    Financial Accounting and Auditing. The Committee will 
review the Public Company Accounting Oversight Board's 
(PCAOB's) oversight of auditors of public companies and broker-
dealers, including standard-setting and the results of the 
PCAOB's inspection programs. The Committee will also monitor 
the impact of exemptions to the scope of the auditing and 
internal controls requirements of the Sarbanes-Oxley Act of 
2002, and the adequacy of investor protections applicable to 
exempt entities. The Committee will also monitor the work of 
the Financial Accounting Standards Board (FASB) and 
Governmental Accounting Standards Board (GASB).
    Cybersecurity. The Committee will examine the risks that 
cybersecurity threats pose to the U.S. capital markets, 
including investment and operational risks associated with 
public companies. The Committee will also monitor the efforts 
of the SEC, SROs, and SEC-registered firms to guard against 
cybersecurity risks and protect sensitive, market-moving data 
and personally identifiable information (PII) of investors. The 
Committee will investigate the cybersecurity implications of 
the creation, movement, and management of cryptocurrencies and 
the usage of blockchain technology.
    Fixed income markets. The Committee will review recent 
developments in the U.S. corporate and municipal bond markets 
and the SEC's response to those developments.
    Derivatives Markets. The Committee will review recent 
developments in the U.S. derivatives markets and efforts to 
harmonize rules governing those markets domestically and 
internationally. The Committee will also examine the SEC's 
progress in implementing the remaining regulations of the 
security-based swaps markets as mandated by the Dodd-Frank Act.
    Equity and options markets. The Committee will review 
recent developments in the U.S. equity and options markets and 
the SEC's response to those developments. The Committee will 
also examine brokers' conflicts of interest arising from 
rebates and fees paid for client orders and the SEC's efforts 
to address those conflicts through, for example, an access fee 
pilot. The Committee will monitor the development, 
implementation, and maintenance of the Consolidated Audit Trail 
(CAT), a market surveillance tool that tracks order events, 
including quotes, orders, executions, allocations, and 
associated customer data, and identifies the broker-dealer 
handling them.
    Trade Policy Impact. The Committee will examine the impact 
of U.S. trade policy proclamations, announcements, decisions, 
and actions by the executive branch on U.S. securities markets, 
including market volatility, capital formation, corporate 
reinvestment, and investor confidence.

                           National Security

    Office of Terrorism and Financial Intelligence (TFI). The 
Committee will examine the operations and organizational 
structure of TFI and its component parts including OFAC and 
FinCEN. The Committee will monitor U.S. government strategies 
and programs to combat terrorist financing, money laundering, 
and other financial crimes, both domestic and international.
    Financial Crimes Enforcement Network (FinCEN). The 
Committee will monitor the operations of FinCEN and its ongoing 
efforts to implement its regulatory mandates, pursuant to the 
Bank Secrecy Act, to safeguard the integrity of the financial 
system and combat money laundering, terrorist financing, and 
other illicit finance. This includes oversight of the execution 
of the mandates created by the Anti-Money Laundering Act of 
2020 and the Corporate Transparency Act.
    Office of Foreign Assets Control (OFAC) and Sanctions. The 
Committee will examine the efficacy of economic and trade 
sanctions designations and enforcement, as well as the 
capabilities and resources within OFAC to perform its work. 
This will include the monitoring of sanctions programs to 
ensure that they are fully implemented consistent with 
Congressional intent and in alignment with U.S. foreign policy 
and national security goals. Particular attention will be paid 
to maximizing the effect of existing programs through 
multilateral cooperation, the possible risks associated with 
the use of sanctions over the short and long term, and the 
capacity of financial technology and innovation to both enable 
and undermine traditional tools of U.S. economic coercion. The 
Committee will examine methods of sanctions evasion and 
efficacy of sanctions compliance programs.
    Money Laundering and Terrorist Financing. The Committee 
will examine the implementation, effectiveness, and enforcement 
of anti-money laundering/counter-financing of terrorism (AML/
CFT) laws and regulations. The Committee will examine patterns 
and trends of money laundering and terrorist finance, both 
domestic and international, and consider proposals to prevent 
and detect abuses of the financial system.
    Counterterrorism Financing Policy. The Committee will 
examine the enforcement, effectiveness, and implementation of 
AML/CFT law and regulations as well as the role of the Treasury 
in promoting the adoption and implementation of such standards 
around the globe. The Committee will explore opportunities to 
enhance compliance and will work with international 
organizations and partners, such as Financial Action Task Force 
(FATF) and the Organisation for Economic Co-operation and 
Development (OECD), to accomplish this goal.
    Transparency and Anti-Corruption. The Committee will 
consider proposals to strengthen AML/CFT laws to combat 
corruption and kleptocracy at home and abroad. This will 
include oversight over the execution of the mandates in the 
Anti-Money Laundering Act of 2020 and the Corporate 
Transparency Act.
    Trafficking. The Committee will examine efforts to 
dismantle the underlying enablers of trafficking and will 
review potential solutions related to the often-overlapping 
categories of trafficking, including human trafficking, 
narcotics trafficking, and natural resource trafficking. The 
Committee will examine the converging attributes of 
transnational trafficking networks and the outflow of illicit 
proceeds.
    De-Risking at Financial Institutions. The Committee will 
review the practices by which broad categories of customers, 
such as non-profit organizations or countries, are denied 
access to the financial system, often due to risk or perceived 
risk.
    Fraud and Cyber Intrusion. The Committee will examine 
efforts to counter fraud, including cyber-enabled fraud and 
increased fraudulent activity associated with the COVID-19 
pandemic.
    Information Sharing. The Committee will examine methods to 
improve information sharing among financial institutions, 
federal agencies, and other entities, while balancing the 
safeguards required to ensure that civil liberties and consumer 
privacy are preserved.
    Emerging Technologies. The Committee will examine 
innovative technologies, such as virtual assets, distributed 
ledgers, non-traditional financial platforms, machine learning 
and artificial intelligence in regulatory technology (RegTech), 
and decentralized finance. The Committee will monitor how these 
technologies affect and interact with the U.S. financial system 
and how the technologies could be used to combat or assist 
those who aim to harm the financial system.
    Committee on Foreign Investment in the United States 
(CFIUS). The Committee will continue to monitor implementation 
of the Foreign Investment Risk Review Modernization Act of 2018 
(FIRRMA) and actions taken by CFIUS to identify and address 
foreign investments that pose threats to national security, 
while preserving the U.S. commitment to an open investment 
environment.

                  International Development and Trade

    Global Economic Cooperation. The Committee will monitor the 
role of United States leadership in the governance of the 
global economic system and the degree to which sustained 
international cooperation helps advance U.S. national security, 
economic interests, and values.
    Oversight of the Multilateral Development Banks. The 
Committee will conduct oversight of U.S. participation in the 
multilateral development banks and their role in helping 
developing and emerging market countries address the health and 
economic effects of the global pandemic. The Committee will 
continue to monitor implementation of policy reforms to which 
the World Bank Group committed last Congress in areas relating 
to public subsidies, resource mobilization, labor markets, 
private education, and human rights. The Committee will 
consider any Administration request for congressional 
authorization for additional U.S. contributions to these 
institutions, including replenishment of the Asian Development 
Fund.
    International Financial Architecture. The Committee will 
review the annual report to Congress and testimony by the 
Secretary of the Treasury on the state of the international 
financial system and the International Monetary Fund (IMF). The 
Committee will examine the degree to which the IMF is focused 
on fighting corruption in its surveillance and program work, as 
well as its efforts, through technical assistance, to 
strengthen the capacity of Fund members to prevent money 
laundering and terrorist financing.
    The International Development Association and the 
International Finance Corporation. The Committee will continue 
to examine financial transfers between the International 
Development Association (IDA) and the International Finance 
Corporation (IFC) with respect to transparency, competitive 
bidding, and development impact. The Committee will monitor the 
ability of IDA to maintain its current level of concessional 
lending to low-income countries in light of its new financing 
model that allows IDA to raise a significant portion of its 
replenishment resources by issuing bonds on the capital markets 
to supplement donor contributions.
    Food Security and Climate Finance. The Committee will 
examine U.S. support for international agricultural development 
programs and multilateral cooperation on the global climate 
finance agenda, including how the international financial 
institutions are supporting efforts to address climate change 
in developing countries.
    Developing Countries at Risk of Debt Distress. The 
Committee will monitor the rising levels of unsustainable debt 
in developing countries and examine proposals and mechanisms to 
create legal frameworks to help provide for orderly sovereign 
debt restructuring processes. The Committee will monitor 
efforts by the U.S. to engage with other members of the IMF to 
pressure China to adopt global standards and practices on 
sustainable debt financing for developing countries, including 
a commitment to lending transparency.
    Trade in Financial Services. The Committee will conduct 
oversight of trade negotiations and discussions as they pertain 
to investment and trade in financial services and will monitor 
U.S. trade objectives and multilateral policies on the 
regulation of global capital flows and their effects on global 
financial stability.
    Exchange Rates. The Committee will review the semi-annual 
report to Congress from the Secretary of the Treasury on 
international economic and exchange rate policies pursuant to 
the Omnibus Trade Act of 1988.
    Export-Import Bank of the United States. The Committee will 
oversee the operations of the Export-Import Bank and its 
mission to support U.S. jobs through increased exports, 
including the Bank's policy on domestic content, its financing 
of fossil fuel projects, and its systems of accountability.
    Extractive Industries. The Committee will examine the 
establishment of a global standard for the public disclosure of 
payments that extractive companies make to governments, as well 
as the effectiveness of these revenue transparency laws in the 
United States and abroad.
    Supply Chain Due Diligence. The Committee will examine 
supply chain due diligence laws in the U.S and abroad, their 
enforcement, and the effects of such laws on the ability of 
companies to responsibly manage risk associated with the 
financing of conflict, human trafficking, and child labor.

                  Financial Technology and Innovation

    Updating Regulatory Approach to Fintech. The Committee will 
continue to review the existing regulatory framework for 
licensing and overseeing fintech products and services, and 
will examine what legislation may be needed to properly oversee 
fintech companies operating within the rapidly evolving 
intersection of technology and finance.
    Cryptocurrencies. The Committee will review the rise of 
``initial coin offerings'' (ICO) as a means of raising capital 
for blockchain-based enterprises. The Committee will examine 
concerns of increased risks of fraud and manipulation in the 
ICO markets. The Committee will also review the SEC's oversight 
of the ICO markets and will consider legislative proposals to 
improve regulatory clarity for ICO issuers and investors. 
Additionally, the Committee will look at the need for clear 
guidelines and regulations for crypto assets, stable coins, 
digital currencies, and related products.
    Faster Payments. The Committee will examine the progress of 
the Federal Reserve's real-time payments proposal called 
FedNow, as well as the consumer protection, data privacy, and 
cyber-security implications of faster payment approaches led by 
the private sector. Additionally, the Committee will consider 
how federal regulation over bank and nonbanks operating in the 
payments space may need to be updated, and whether faster 
payments will increase financial inclusion for unbanked and 
underbanked consumers.
    Algorithmic Bias and Artificial Intelligence. The Committee 
will evaluate the challenge of how to assess, identify, and 
regulate bias in algorithms used by financial institutions for 
consumer loans and other products. The Committee will examine 
the decision-making processes utilized in these technologies, 
and how the ``Black Box'' problem, resulting in a lack of 
transparency can be addressed. The Committee will consider how 
the use of artificial intelligence may complicate the efforts 
of human programmers and data scientists to predict how certain 
programs utilizing machine learning or deep learning will 
operate in real life.
    Cybersecurity, Digital Data, and Privacy. The Committee 
will study the implications of AI-enabled automation in 
monitoring and reporting activities, and how they affect our 
cybersecurity and data privacy. The Committee will investigate 
the role of regulators in ensuring that information gathered on 
individuals and used by AI to make decisions appropriately 
respects individuals' privacy. Additionally, the Committee will 
consider how much autonomy AI programs should have in decision-
making over individuals' financial transactions, especially 
when it can lead to adverse actions against consumers, such as 
closing an account because of a determination that a customer 
poses too much of a money laundering risk.

                        Diversity and Inclusion

    Racial and Economic Justice. The Committee will review 
historic and systemic racism in the housing and financial 
system, and consider legislation to provide targeted 
investments to remedy such injustices that have resulted in the 
marginalization of people of color and an unconscionable racial 
wealth gap. The Committee will press every sector under its 
jurisdiction to strengthen diversity and inclusion. The 
Committee will also consider legislation to provide 
opportunities to formerly incarcerated individuals that face 
barriers to full participation in the financial services 
industry and in obtaining affordable housing.
    Financial and Economic Inclusion. The Committee will 
monitor the availability and affordability of financial 
products and services to communities such as underserved rural, 
urban, Tribal, indigenous and other minority communities, and 
certain populations such as immigrants, active-duty 
servicemembers and veterans and their families, older 
(including retired) Americans, young adults and college 
students, state- and federally-recognized Tribes, indigenous 
peoples, and low- and moderate-income consumers. The Committee 
will evaluate methods to expand access to the traditional 
financial services system to people in different social, 
income, and economic segments in this country, including 
methods to broaden homeownership, increase wages, promote 
employment within high-growth industries, encourage savings 
(including retirement savings), and investments.
    Wealth and Income Inequality, and Income Mobility. The 
Committee will examine the existing differences in wealth and 
income among American households across the country. The 
Committee will evaluate proposals to reduce disparities in 
opportunity that continue to persist across different segments 
of our society and that were exacerbated in the run-up to, and 
the fallout from, the 2008 financial crisis, and exacerbated by 
the ongoing pandemic. The Committee will consider how the 
economic disparities in this country compare with other 
countries and whether successful approaches by other countries 
to reduce such disparities could serve as models for the U.S. 
The Committee will also monitor, among other things, whether 
economic opportunity zones have been successful in promoting 
intra and intergenerational income mobility. This review will 
include an assessment of the effect on employment and income 
mobility of factory and manual workers from trade agreements 
and the increasing use of automation by companies.
    Diversity Data. The Committee will review regulated 
entities' diversity data, including whether and how such 
companies are: tracking internal and external workforce and 
supplier diversity activities to identify and mitigate 
vulnerable moments along the talent lifecycles; tying 
executives' performances to their ability to meet tangible 
diversity and inclusion goals; and, using such data to inform 
the composition of their boards of directors.
    Offices of Minority and Women Inclusion (OMWIs). The 
Committee will examine all matters relating to the diversity 
and inclusion activities within the agencies under the 
Committee's jurisdiction, including the implementation of 
Section 342 of the Dodd-Frank Act and Section 1116 of the 
Housing and Economic Recovery Act (HERA) by the OMWIs, which 
are responsible for handling all matters relating to diversity 
in management, employment, and business activities within most 
federal financial agencies. This review will include, among 
other things, monitoring whether the agencies have allocated 
appropriate resources for their OMWIs, maintained frequent 
interaction with and direct reporting lines between the heads 
of the agencies and their OMWI Directors, and established 
tangible and measurable outcomes within their long-term 
strategic plans and daily operations to achieve a diverse and 
inclusive culture throughout all levels of their agencies.
    Workforce, Supplier, and Business Diversity Efforts Within 
Agencies and their Regulated Entities. The Committee will 
consider measures to further leverage diverse and inclusive 
perspectives, skills, and talents within the workforces of 
agencies under the Committee's jurisdiction, particularly at 
the middle- and senior- management level, executive, and C-
suite positions, to help improve the agencies' services, foster 
greater innovation, and develop novel solutions. The Committee 
will also monitor agencies' policies and practices, as well 
those of their regulated entities, to ensure that workplace 
environments operate in a fair, transparent, and non-
discriminatory manner for all their employees by ensuring that 
racial, ethnic, and gender minorities, without regard to their 
sex--including sexual orientation, gender identity, sex 
stereotypes, and pregnancy, childbirth, or a related medical 
condition--have equal opportunities.
    Recruitment, Retention and Promotion. The Committee will 
review the policies and practices of all the agencies under the 
Committee's jurisdiction, and of their regulated entities, to 
promote the recruitment, retention, and promotion of a diverse 
pool of employees, throughout all levels, of each organization 
but particularly at the middle- and senior-management level, 
executive, C-suite, and board of director positions. The 
Committee will review the commitment and behavior of leaders, 
as well as consider measures, to ensure that diversity and 
inclusion goals are effectively transmitted throughout their 
organizations, including holding managers accountable for 
achieving diverse and inclusive environments.
    The Rooney Rule. The Committee will consider policies that 
mandate the consideration of diverse employment candidates 
(such as ``the Rooney Rule''), and whether and how such 
policies have affected diversity and inclusion efforts, 
including efforts by the Federal Reserve to identify and select 
a diverse pool of candidates for senior-management positions 
throughout the entire Federal Reserve System.
    Vendor, Contractor, and Business Diversity. The Committee 
will monitor the agencies' efforts to increase diversity within 
their vendor and contractor pools, and may consider methods to 
address any challenges, or other barriers, to the agencies' 
capacity to enhance their supplier and business diversity. The 
Committee will also consider changes to increase the 
transparency of the diversity practices of the FHFA's regulated 
entities, including requiring public reporting of the total 
dollar amounts these entities spend on third party vendors and 
service providers and the amounts paid to firms that are 
minority-owned, women-owned, disability-owned, and other 
diverse-owned businesses on a regular basis.
    Public Companies. The Committee will consider proposals to 
enhance diversity and inclusion practices and policies at 
public companies, including by more transparently reporting 
information regarding the equitable inclusion of women and 
people of color in the workforce including compensation equity, 
and the selection process of those who serve in middle- and 
senior- management level, executive, C-suite positions, and 
boards of directors.
    Diverse Entrepreneurs and Access to Capital. The Committee 
will monitor challenges faced by, and consider solutions to, 
encouraging the creation and growth of diverse entrepreneurs' 
businesses, particularly any unique challenges faced by 
minority-owned businesses, women-owned businesses, veteran-
owned businesses, Native-owned businesses, disability-owned 
businesses, and small businesses in obtaining access to capital 
and opportunities to obtain a fair allocation of federal funds 
and participation in federal programs. The Committee will also 
review how corporations collaborate with minority-owned, women-
owned and other diverse-owned firms in their capital markets 
activities, including but not limited to, the investment of 
pension, union, and retirement funds; externally managed 
investment and non-indexed funds; and alternative investments. 
The Committee will also monitor the implementation of data 
collection measures that could more effectively and efficiently 
inform the public, investors, regulators, and Congress about 
patterns and trends of business lending and other types of 
financing.

                             Minority Views

    Republicans' top priority remains safely reopening our 
economy and getting Americans back to work. This can be 
accomplished by ensuring more vaccines and testing are 
available to our communities. With the extraordinary effort to 
provide support to those impacted by COVID-19, comes the need 
for diligent oversight of the CARES Act and related relief 
programs. Additionally, Committee Republicans remain committed 
to carrying out commonsense oversight priorities, to not only 
ensure the safety and soundness of our financial system, but 
its full recovery as well. Committee Republicans expect to 
conduct oversight of the following areas during the 117th 
Congress, as well as oversight and investigations of additional 
matters or programs as they arise.

                        ADDRESSING SYSTEMIC RISK

       Cybersecurity. The coronavirus pandemic and 
related relief programs have created an environment ripe for 
cybercriminal activity. Committee Republicans will continue to 
conduct oversight of cybersecurity in the public and private 
sectors to protect the financial system from cybercrime. 
Republicans will facilitate information sharing and identify 
best practices among financial regulators and industry 
participants, especially for threats related to COVID-19 and 
related federal relief programs.
       Digitization. Regulators must continue to 
digitize their operations and interactions with regulated 
entities. These changes should be made permanent even after the 
pandemic subsides. It is necessary to ensure that new and 
modernized digital infrastructure is in place to allow for 
efficient and secure digital operations. The minority will 
continue to conduct oversight of financial regulators as they 
transition to increased digital interactions with regulated 
entities on a more permanent basis.
       Democratization of Finance. Increased retail 
participation in the stock market has allowed more Americans to 
generate wealth and provided new sources of capital for 
companies to hire workers and invest in research and 
development, among other things. Republicans will conduct 
oversight of the retail marketplace to ensure the regulatory 
environment, including the accredited investor rule, is 
favorable for investors. Within that context, Republicans will 
make findings and recommendations related to trading in 
GameStop and other stocks in late January 2021.
       Politicization of Access to Capital. Republicans 
support fair access to financing for legally operating 
businesses, which supports jobs and promotes long-term economic 
growth. Financial regulators have committed to addressing 
social causes unrelated to their regulatory authorities and 
financial firms continue to limit access to capital to certain 
politically unpopular industries. Republicans will conduct 
oversight of the federal financial regulators to determine 
whether their activities are outside their mandates, and of 
regulated firms within the committee's jurisdiction to 
determine whether they limit access to capital for legally 
operating businesses based on non-pecuniary factors to 
accomplish unrelated social or political goals.
       Role of Proxy Advisory Firms. SEC guidance 
states that advisers who vote proxies must do so in a manner 
consistent with their fiduciary obligations and, to the extent 
they rely on voting advice from proxy advisory firms they must 
take reasonable steps to ensure the use of that advice is 
consistent with their fiduciary duties. Republicans will 
conduct oversight of the regulatory environment that covers the 
relationship between proxy advisory firms, their clients, and 
corporate boards of directors, to ensure boards are positioned 
to meet their fiduciary obligations and determine the most 
situationally appropriate course for companies to take.

                 IMPROVING EFFICIENCY AND EFFECTIVENESS

       Federal Housing Assistance. Despite significant 
federal investment over the past several years, homelessness 
persists as an issue. Data from the Department of Education 
shows two million children experience homelessness at some 
point during the school year. Republicans will conduct 
oversight of homelessness programs and uses of funding intended 
for that purpose to ensure resources are directed toward those 
in greatest need.
       Implementation of Recommendations from the 
Community of Inspectors General. The audits and investigative 
work of the IG community provides a roadmap for congressional 
oversight of agencies within the Committee's jurisdiction. The 
minority will review the inventory of open and unimplemented 
recommendations from the inspectors general within the 
committee's jurisdiction to identify opportunities for cost 
savings and areas of common concern. The minority will also 
seek to hold quarterly hearings with IGs to highlight some of 
the most urgent areas for oversight.
       Rulemaking Process. The regulatory rulemaking 
process has gone relatively unchanged for decades. Technology 
tools including AI could improve the efficiency and 
effectiveness of the notice and comment process. Republicans 
will continue to conduct oversight of agencies as they develop 
new strategies and further integrate technology into the 
rulemaking process.
       Fannie Mae and Freddie Mac. Fannie Mae and 
Freddie Mac have been operating under federal conservatorship 
since being bailed out for nearly $200 billion at the height of 
the financial crisis. The minority will conduct oversight of 
the government-sponsored enterprises and assess the role of the 
federal government in mortgage finance to ensure the 
administration remains on track to end government 
conservatorship of Fannie Mae and Freddie Mac.

                       PREVENTING WASTE AND FRAUD

       Paycheck Protection Program and Economic Impact 
Payment Program Fraud. The minority will continue to monitor 
and investigate fraud associated with COVID-19 relief programs, 
specifically whether internal program controls effectively 
balance the need to distribute relief quickly against fraud 
prevention. The minority will seek data from relevant agencies, 
inspectors general, GAO, and private sector participants, to 
identify potential systemic risk concerns, among other things.
       CARES Act. The CARES Act provided trillions of 
dollars to the Treasury and Federal Reserve to stabilize the 
economy amidst the COVID-19 pandemic. The minority will 
continue to conduct oversight to ensure loan recipients and 
other program participants comply with the terms of the 
programs in conformity with congressional intent and to protect 
against waste, fraud, and abuse.
       Abuse of the Paycheck Protection Program by 
Political Organizations. The Paycheck Protection Program was 
designed to provide a direct incentive for small businesses to 
keep their workers on the payroll. The Small Business 
Administration released data that shows political organizations 
may have taken advantage of the program's expedited nature to 
obtain funds for which they were ineligible. The minority will 
partner with relevant agencies, inspectors general, and the 
Justice Department to ensure ineligible political organizations 
are held accountable.
       CFPB Oversight. The Dodd-Frank Act created a 
CFPB that was unaccountable to Congress. Republicans supported 
a successful legal challenge to the Bureau's unconstitutional 
structure that made the CFPB Director removable at will by the 
President. Still, the Bureau is funded outside of the 
congressional appropriations process, which positions the 
Federal Reserve Board of Governors to act as a rubber stamp for 
the Director's funding request. The fact that the Board has no 
statutory mechanism to scrutinize the Bureau's funding request 
has raised concerns that the CFPB's budget process is exposed 
to waste, fraud, and abuse. In light of CFPB's continued 
operation outside the congressional appropriations process, 
Republicans will conduct oversight to ensure the Director does 
not abuse the Bureau's vast enforcement authority to punish 
industries disfavored by the Administration.
       Elder Fraud. As the United States' elder 
population continues to grow, financial fraud targeting that 
community will have massive implications for financial 
institutions. Evidence suggests that one in every five elder 
Americans has been a victim of some form of financial fraud. 
These numbers have increased due to the amount of COVID-related 
fraud cases. Republicans will investigate how regulators and 
the financial services industry are addressing elder fraud.

                           NATIONAL SECURITY

       Terrorism Finance. Republicans will continue to 
conduct oversight of the growing network of non-governmental 
organizations (NGOs), primarily in Western countries, including 
the United States, which, in recent years, has engaged in an 
organized and well-coordinated boycott, divestment and 
sanctions (BDS) campaign against Israel. Documents show 
connections between that network and groups that operate in the 
Middle east with known connections to terrorist activities. 
Republicans will ensure the administration uses the full range 
of tools to prevent money from moving between domestic BDS 
groups and terrorist groups abroad. Republicans will also 
examine whether entities that do business with government 
agencies provide goods and services to state sponsors of 
terrorism.
       Money Laundering. Financial institutions and law 
enforcement agencies face constantly evolving tactics from 
sophisticated criminals and terrorists attempting to leverage 
the global financial system. Republicans will continue to 
assess the Bank Secrecy Act and Anti-Money Laundering (BSA/AML) 
regulatory regime to investigate the effectiveness of the 
current rules, highlight the need to modernize the reporting 
system in the digital era, and prevent criminal activity.
       North Korean Sanctions. North Korea uses 
corporations with opaque ownership structures to move money 
through American banks. The current enforcement of 
international sanctions intended to block Pyongyang's access to 
the global financial system appear insufficient to prevent 
these transactions. The minority will investigate how agencies 
and financial institutions are combating money laundering 
schemes like this and assess whether new legislation is 
necessary.
       China. Analysts have observed China offering 
funding for international projects to secure Chinese access to 
resources or local markets, causing countries to become 
ensnared in a debt trap that leaves them vulnerable to China's 
influence. The minority will examine China's debt trap and 
Chinese resistance to transparent disclosure in its lending and 
discuss the implications of China's financing decisions in 
terms of the IMF, World Bank, and global systemic risk.

          IMPLEMENTATION OF THE 117TH CONGRESS OVERSIGHT PLAN


  Implementation of the Oversight Plan of the Committee on Financial 
         Services for the One Hundred and Seventeenth Congress


                       COVID-19 Pandemic Response

    Ensure Equitable Administration and Distribution of Housing 
Relief Funds. The Full Committee held three separate hearings 
examining housing relief and protections during the ongoing 
pandemic.
           ``More than a Shot in the Arm: The Need for 
        Additional COVID-19 Stimulus,'' February 4, 2021: This 
        hearing focused on the need for additional COVID relief 
        through the American Rescue Plan Act, including for 
        supplemental stimulus payments, housing, employment 
        benefits, community relief, and health measures.
           ``Oversight of the Treasury Department's 
        Federal Reserve's Pandemic Response,'' March 23, 2021: 
        This statutorily required hearing focused on oversight 
        of the Treasury Department and Federal Reserve's 
        equitable response to the COVID-19 pandemic, including 
        Treasury's distribution of pandemic relief funds 
        through the CARES Act.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
    The Housing, Community Development, and Insurance 
Subcommittee held two separate hearings examining housing 
relief and protections during the ongoing pandemic.
           ``Slipping Through the Cracks: Policy 
        Options to Help America's Consumer During the 
        Pandemic,'' March 11, 2021: This hearing focused on the 
        gaps in consumer protections during the pandemic and 
        evaluated possible policy responses to ensure the 
        stability of all consumers and small business owners 
        and could share in economic recovery. This hearing also 
        focused on existing racial and economic disparities 
        that have been dangerously exacerbated by the pandemic.
           ``Preserving a Lifeline: Examining Public 
        Housing in a Pandemic,'' March 24, 2021: This hearing 
        focused on the role of public housing as an important 
        lifeline for stabilizing and providing services to low-
        income families during the pandemic, as well as the 
        funding and capacity challenges of Public Housing 
        Authorities.
    The Committee considered the following legislation to 
address housing relief and protections during the ongoing 
pandemic:
           H.R. 618, the ``Promoting Access to Credit 
        for Homebuyers Act,'' introduced by Representative 
        Vargas, would promote access to credit for homebuyers 
        during the COVID-19 pandemic by preventing Fannie Mae, 
        Freddie Mac, and the Federal Housing Administration 
        from imposing additional restrictions or costs on 
        borrowers who have inquired about, requested, or 
        received forbearance.
           H.R. 659, the ``Repeal the Faircloth 
        Amendment Act of 2021,'' introduced by Representative 
        Ocasio-Cortez, would repeal the Faircloth Amendment 
        that prohibits the expansion of public housing.
           H.R. 1682, the ``Stabilizing Rural 
        Homeowners During COVID Act of 2021,'' introduced by 
        Representative Cleaver, would provide additional FY2021 
        funding to the Department of Agriculture's Direct Home 
        Loan and Housing Repair Loan programs for rural housing 
        assistance.
           H.R. 1710, the ``Coronavirus Homeowner 
        Assistance Act of 2021,'' introduced by Representative 
        Scott, would provide emergency assistance to homeowners 
        to respond to the coronavirus pandemic, and for other 
        purposes.
           H.R. 4948, the ``Choice Neighborhoods 
        Initiative Act of 2021,'' introduced by Representative 
        Cleaver, would permanently authorize the Choice 
        Neighborhoods Initiative Program.
           H.R. ___, the ``Relief for Consumers During 
        COVID-19 Act,'' offered by Representative Beatty, is a 
        discussion draft that would provide a temporary debt 
        collection moratorium and sustainable repayment plans 
        for consumers, as well as creditor access to Federal 
        Reserve (Fed) loans during the pandemic, and for 120 
        days thereafter.
           H.R. ___, the ``COVID-19 Mortgage Relief 
        Act,'' offered by Representative Garcia (TX), is a 
        discussion draft that would extend foreclosure and 
        forbearance protections in the CARES Act to provide 
        more relief for all homeowners, rental property owners, 
        and mortgage services in part by extending the ``GSE 
        patch'' until at least June 1, 2022 to help ensure 
        market stability. Similar provisions were included in 
        H.R. 925 the Heroes Act, the Heroes Act in the 116th 
        Congress.
           H.R. ___, the ``Public Housing Tenant 
        Protection Act of 2021,'' offered by Chairwoman Waters, 
        is a discussion draft that would: (1) require one-for-
        one replacement for any public housing units that are 
        demolished or disposed of; (2) provide additional 
        protections for residents through the revitalization 
        process, including stronger notification requirements, 
        increased resident involvement in the planning and 
        implementation stages, and more robust tenant 
        protections regarding relocation; (3) allow the 
        Secretary of HUD to establish the Capital Fund Loan 
        Guarantee, which would allow housing authorities to 
        attract private investment to rehabilitate public 
        housing properties; and (4) support public housing 
        residents through job training to provide for increased 
        earnings and positive life outcomes.
           H.R. ___, the ``Supporting Seniors and 
        Tenants in Subsided Housing Act,'' offered by 
        Representative Cleaver, is a discussion draft that 
        would provide additional protections for public housing 
        residents during the coronavirus pandemic and would 
        provide supplemental funding for supportive housing for 
        the elderly.
           H.R. ___, the ``Public Housing and Section 8 
        Operational Response Act for COVID-19,'' offered by 
        Representative Velazquez, is a discussion draft that 
        would provide $5 billion for the Public Housing 
        Operating fund and $3.5 billion for tenant-based rental 
        assistance to respond to the coronavirus pandemic.
           H.R. ___, the ``Affordable Housing 
        Preservation Act,'' offered by Representative Torres, 
        is a discussion draft to reform the Rental Assistance 
        Demonstration to provide additional protections for 
        residents and to better ensure long-term affordability.
    Members of the Committee also sent several letters 
regarding housing relief and protections during the ongoing 
pandemic.
           June 21, 2021, Chairwoman Maxine Waters sent 
        a letter to HUD Secretary Marcia Fudge, USDA Secretary 
        Thomas Vilsack, VA Secretary Denis McDonough, former 
        Acting CFPB Director Dave Uejio, and former FHFA 
        Director Mark Calabria, urging them to administratively 
        extend their moratoria on foreclosures at least until 
        the CFPB is able to finalize and implement its pandemic 
        recovery mortgage servicing rule.
           On June 30, 2021, Chairwoman Maxine Waters 
        sent a letter to Governor of California Galvin Newsom 
        and Mayor of Los Angeles Eric Garcetti, urging them to 
        reduce barriers to assistance to ensure that critical 
        COVID-19 relief reaches Californians who continue to 
        struggle during the pandemic.
           On July 2, 2021, Chairwoman Maxine Waters 
        sent a letter to 33 of the nation's largest corporate 
        landlords and top eviction filers during the pandemic, 
        urging them to work with tenants to inform them of 
        their rights and connect them with emergency rental 
        assistance.
           On August 2, 2021, Chairwoman Maxine Waters 
        sent a letter to Speaker Nancy Pelosi expressing her 
        strong support for Speaker Pelosi in urging the Biden 
        Administration and the Centers for Disease Control and 
        Prevention (CDC) to administratively extend the 
        eviction moratorium.
           On August 5, 2021, Chairwoman Maxine Waters 
        sent two letters to 9 federal agencies and banking 
        regulators, urging them to strengthen foreclosure and 
        mortgage servicing protections for borrowers and 
        provide greater oversight to prevent unnecessary 
        foreclosures during the pandemic.
           On February 16, 2022, Chairwoman Maxine 
        Waters and Congressman Jimmy Gomez (D-CA) co-led a 
        letter with 36 Members of California's Congressional 
        delegation sent a letter to Treasury Secretary Janet 
        Yellen, urging the Department of the Treasury to 
        reallocate unused Emergency Rental Assistance Program 
        (ERA) funds to states with the highest need for such 
        aid.
    Support for Minority Depository Institutions (MDIS) and 
Community Development Financial Institutions (CDFIS). The Full 
Committee held six separate hearings examining support for MDIs 
and CDFIs.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing focused on 
        ways to promote racial equity, including through 
        support provided to MDIs and CDFIs to strengthen their 
        ability to serve communities of color and other 
        underserved communities.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing examined, among other things, how 
        prudential regulators worked to achieve their statutory 
        goal to promote and preserve MDIs, as well as support 
        depository CDFIs.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' September 30, 
        2021: This hearing provided the Committee with an 
        update on the deployment of grants and capital 
        investments to strengthen CDFIs and MDIs.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' December 1, 
        2021: This hearing provided the Committee with an 
        update on the deployment of grants and capital 
        investments to strengthen CDFIs and MDIs.
           ``An Unprecedented Investment for Historic 
        Results: How Federal Support for MDIs and CDFIs Have 
        Launched a New Era for Disadvantaged Communities,'' 
        February 16, 2022: This hearing focused on the impact 
        of federal investments in MDIs and CDFIs, as well as 
        proposals to enhance such support.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing provided the Committee with an 
        update on how prudential regulators worked to achieve 
        their statutory goal to promote and preserve MDIs, as 
        well as support depository CDFIs.
    The Consumer Protection and Financial Institutions 
Subcommittee held two separate hearings examining opportunities 
and challenges relating to MDIs and CDFIs.
           ``Cyber Threats, Consumer Data, and the 
        Financial System,'' November 3, 2021: This hearing 
        focused on, among other things, the technology 
        capabilities and partnerships of, as well as the 
        cybersecurity threats faced by, financial institutions, 
        including MDIs and CDFIs.
           ``Small Businesses, Big Impact: Ensuring 
        Small and Minority-Owned Businesses Share in the 
        Economic Recovery,'' February 17, 2022: This hearing 
        explored, among other things, the need to support MDIs 
        and CDFIs to help ensure small businesses, especially 
        those owned by people of color, have access to capital 
        and banking services.
    The Committee considered the following legislation to 
support CDFIs and MDIs:
           H.R. 2543, the ``Financial Services Racial 
        Equity, Inclusion, and Economic Justice Act,'' 
        introduced by Chairwoman Waters, which includes a 
        number of provisions to promote racial equity and 
        support for MDIs and CDFIs, including H.R. 4590, H.R. 
        5322, H.R. 7022, and H.R. 7953, as well as providing 
        technology support for MDIs and CDFIs; creating a 
        searchable map to make it easier for communities to 
        locate nearby institutions; understanding the impact of 
        CDFI lending and investments; supporting the creation 
        of de novo MDIs and CDFIs; establishing a grant program 
        to incentivize CDFIs to provide start-up capital and 
        other support for young entrepreneurs; study 
        securitization options for CDFIs; and ensure access to 
        emergency liquidity through the Federal Reserve's 
        discount window.
           H.R. 3323, the ``Federal Home Loan Banks'' 
        Mission Implementation Act'' introduced by 
        Representative Torres, which would expand the ability 
        of Federal Home Loan Banks (FHLBs) to provide advances 
        and grants for investments in small businesses, 
        affordable housing, and community development, 
        including by, among other things, expanding the 
        availability of advances to certain CDFIs and credit 
        unions.
           H.R. 4590, the ``Promoting New and Diverse 
        Depository Institutions Act,'' introduced by 
        Representative Auchincloss, would require banking 
        regulators to conduct a study about the challenges 
        faced by proposed depository institutions seeking de 
        novo bank charters, and to implement a strategic plan 
        to promote the creation of new depository institutions, 
        including MDIs and depository CDFIs.
           H.R. 5322, the ``Ensuring Diversity in 
        Community Banking Act'' introduced by Representative 
        Meeks, which would strengthen minority depository 
        institutions and ``impact banks'' that predominantly 
        serve low-income communities through partnerships, 
        technical assistance, and deposits.
           H.R. 7022, the ``CDFI Bond Guarantee Program 
        Improvement Act'' introduced by Representative Cleaver, 
        which would reduce the CDFI Bond Guarantee Program 
        minimum issuance threshold from $100 million to $25 
        million, and make the program permanent.
           H.R. 7953, the ``Expanding Opportunity for 
        MDIs Act'' introduced by Representative Beatty, which 
        would codify the Financial Agent Mentor-Protege Program 
        within the Department of the Treasury, providing MDIs 
        with mentorship from larger financial institutions on 
        becoming a financial agent for Treasury and improving 
        service capacity.
    Members of the Committee also sent several letters 
regarding MDIs and CDFIs.
           On April 7, 2021, Chairwoman Maxine Waters 
        and Senator Mark Warner (D-VA) sent a letter to 
        Treasury Secretary Janet Yellen, urging the extension 
        of the Emergency Capital Investment Program (ECIP) 
        application deadline to ensure the highest level of 
        participation from eligible CDFIs and MDIs.
           On January 18, 2022, Chairwoman Waters and 
        Senator Warner sent a letter to urge the Federal 
        Reserve to provide guidance to Subchapter S and Mutual 
        bank ECIP recipients on concerns they raised.
           On June 15, 2022, Chairwoman Waters sent a 
        letter with Senator Warner to the U.S. Government 
        Accountability Office (GAO), asking for a study on 
        supporting the technology modernization needs of CDFIs 
        and MDIs.
    Protecting Consumers During the Pandemic. The Full 
Committee held nine hearings examining topic.
           ``More than a Shot in the Arm: The Need for 
        Additional COVID-19 Stimulus,'' February 4, 2021. This 
        hearing focused on the need for additional support in 
        many parts of the economy as the COVID-19 pandemic 
        persisted.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' March 23, 2021. 
        This hearing examined the various pandemic programs 
        Treasury and the Fed administer, including those 
        designed to support individuals, workers, families, and 
        renters.
           ``Holding Megabanks Accountable: An Update 
        on Banking Practices, Programs and Policies,'' May 27, 
        2021: This hearing examined the practices, programs and 
        policies of the largest U.S. banks, including how they 
        treated consumers during the COVID-19 pandemic.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' September 30, 
        2021. This hearing examined the various pandemic 
        programs Treasury and the Fed administer, including 
        those designed to support individuals, workers, 
        families, and renters.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' December 1, 
        2021. This hearing examined the various pandemic 
        programs Treasury and the Fed administer, including 
        those designed to support individuals, workers, 
        families, and renters.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Subcommittee on Consumer Protection and Financial 
Institutions held one hearing examining consumer protections 
during the pandemic.
           ``Slipping Through the Cracks: Policy 
        Options to Help Consumers During the Pandemic,'' March 
        11, 2021: This hearing focused on consumer protection 
        shortcomings and the need for additional safeguards as 
        the pandemic persisted.
    The National Security, International Development, and 
Monetary Policy Subcommittee held one hearing exploring what 
additional economic support small and diverse-owned businesses 
needed during the pandemic.
           ``Supporting Small and Minority-Owned 
        Businesses Through the Pandemic,'' February 4, 2021: 
        This hearing focused on the successes and challenges of 
        various small business support programs, and the 
        consideration of additional support, such as renewing 
        the State Small Business Credit Initiative.
    The Committee considered the following legislation to 
address the negative impacts of the COVID-19 pandemic on 
consumers, small businesses and communities:
           H.R. 618, the ``Promoting Access to Credit 
        for Homebuyers Act'' introduced by Representative 
        Vargas, which would promote access to credit for 
        homebuyers during the COVID-19 pandemic by preventing 
        Fannie Mae, Freddie Mac, and the Federal Housing 
        Administration from imposing additional restrictions or 
        costs on borrowers who have inquired about, requested, 
        or received forbearance.
           H.R. 2959, the ``COVID-19 Fraud Prevention 
        Act'' introduced by Representative Axne, which would 
        establish a joint CFPB and Security and Exchange 
        Commission (SEC) fraud working group to better protect 
        consumers and investors against fraudulent consumer and 
        investment schemes during the pandemic.
           H.R. 5914, the Empowering States to Protect 
        Seniors from Bad Actors Act introduced by 
        Representative Gottheimer, which would authorize grants 
        by the SEC to States to protect seniors and vulnerable 
        adults from fraudulent marketing or sales practices 
        related to the COVID-19 pandemic and other unlawful 
        scams.
           H.R. 6741, the ``COVID-19 Mortgage Relief 
        Act'' introduced by Representative S. Garcia, which 
        would extend foreclosure and forbearance protections in 
        the CARES Act to provide more relief for all 
        homeowners, rental property owners, and mortgage 
        servicers in part by extending the ``GSE patch'' until 
        at least June 1, 2022 to help ensure market stability.
    Global Response to the Pandemic. The Subcommittee on 
National Security, International Development, and Monetary 
Policy held one hearing examining the global response to the 
pandemic.
           ``The Role of the International Monetary 
        Fund in a Changing Global Landscape,'' February 17, 
        2022: This hearing focused on the evolving role the 
        International Monetary Fund (IMF) plays as a central 
        pillar of global economic cooperation, responsible for 
        monitoring and preserving the stability of the 
        international financial system. This hearing examined 
        the shifts and challenges the IMF currently faces, 
        including disruptions brought on by climate change, 
        rising levels of unsustainable sovereign debt, and the 
        potential for an uneven COVID-19 recovery to exacerbate 
        inequality, undermine social cohesion, and increase 
        instability across the globe.
    The Chairwoman sent the following letter regarding the 
global response to the pandemic.
           On December 4, 2020, Chairwoman Maxine 
        Waters sent a letter to then-President-Elect Joseph R. 
        Biden providing recommendation on areas where the Biden 
        Administration should focus. The letter laid out key 
        priorities with regard to restoring America's 
        leadership role in international development 
        particularly in light of challenges created by the 
        pandemic.
    Defense Production Act. The Full Committee held 1 hearing 
examining the use of Defense Production Act authorities in the 
American Rescue Plan.
           ``More than a Shot in the Arm: The Need for 
        Additional COVID-19 Stimulus,'' February 4, 2021: This 
        hearing focused on the Response and Relief Act, the 
        CARES Act stimulus programs, and the American Rescue 
        Plan, which included $10 billion to expand domestic 
        manufacturing of pandemic supplies using executive 
        authorities under the Defense Production Act.
    The Committee considered the following legislation to 
address the use of Defense Production Act for the COVID-19 
emergency:
           H.R. 3125, the ``COVID-19 Emergency Medical 
        Supplies Enhancement Act of 2021'' introduced by 
        Representative Juan Vargas, which would expand certain 
        authorities under the Defense Production Act to support 
        the production of critical medical supplies during the 
        COVID-19 emergency.

                   Housing and Community Development

    Department of Housing and Urban Development (HUD) and U.S. 
Department of Agriculture (USDA). The Full Committee held two 
hearings conducting general oversight of HUD.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           ``Building Back A Better, More Equitable 
        Housing Infrastructure for America: Oversight of the 
        Department of Housing and Urban Development,'' July 20, 
        2021: This hearing focused on oversight of HUD.
    The Housing, Community Development, and Insurance 
Subcommittee held three separate hearings examining HUD and 
USDA.
           ``Flexible Federal Funding: Examining the 
        Community Development Block Grant Program and Its 
        Impact on Addressing Local Challenges,'' June 16, 2021: 
        This hearing focused on the state of the CDBG program, 
        current program limitations, and funding challenges.
           ``Housing America: Addressing Challenges in 
        Serving People Experiencing Homelessness,'' February 2, 
        2022. This hearing focused on the state of the ongoing 
        homelessness crisis, the increased challenges presented 
        by the coronavirus pandemic at all levels of government 
        in addressing homelessness, and the need for flexible 
        funding to meet the unique needs of communities, 
        including in rural areas.
           ``Persistent Poverty in America: Addressing 
        Chronic Disinvestment in Colonias, the Southern Black 
        Belt, and the U.S. Territories,'' November 15, 2021: 
        This hearing focused on the housing and community 
        development needs and challenges in these communities, 
        which are predominantly rural face.
    The Oversight and Investigations Subcommittee held one 
hearing examining HUD and USDA.
           ``Ensuring Equitable Delivery of Disaster 
        Benefits to Vulnerable Communities and Peoples: An 
        Examination of GAO's Findings of the CDBG Program,'' 
        January 19, 2022: This hearing focused on the findings 
        of a report issued by the Government Accountability 
        Office entitled, ``Better Data Are Needed to Ensure HUD 
        Block Grant Funds Reach Vulnerable Populations.''
    The Committee considered the following legislation to 
address HUD and USDA:
           H.R. 2851, the ``Affordable Housing 
        Preservation Act of 2021'' introduced by Representative 
        Omar, would establish a demonstration program to 
        support zero equity and limited equity cooperative 
        developments.
           H.R. 2965, the ``Naomi Schwartz Safe Parking 
        Program Act of 2021'' introduced by Representative 
        Carbajal, would provide grants to local governments to 
        establish safe parking programs.
           H.R. 3111, the ``Grandfamily Housing Act of 
        2021'' introduced by Representatives McGovern and 
        Pressley, would provide supportive services to 
        households headed by grandparents.
           H.R. 3279, the ``HUD Inspection Oversight 
        Act of 2021'' introduced by Representative Lawson, 
        would increase transparency, and strengthen enforcement 
        of the inspection process for properties supported by 
        project-based rental assistance that fail to come into 
        compliance with federal housing laws.
           H.R. 3332, the ``Manufactured Housing 
        Community Preservation Act of 2021'' introduced by 
        Representative Axne, would help nonprofits, resident-
        formed cooperatives, and other local entities purchase 
        and maintain manufactured housing communities through 
        awards up to $1 million.
           H.R. 3333, the ``Manufactured Housing 
        Tenant's Bill of Rights'' introduced by Representative 
        Axne, would establish a set of minimum standards for 
        MHC tenants that receive federal financial through 
        Fannie Mae, Freddie Mac, or the Federal Housing 
        Administration.
           H.R. 3555, the ``Voters on the Move 
        Registration Act'' introduced by Chairwoman Waters and 
        Representative Williams, would require public housing 
        agencies, owners of federally assisted housing, and 
        lenders of federally-backed mortgages to provide 
        tenants and borrowers with voter registration 
        information upon applying for a mortgage loan or 
        receiving federal rental assistance.
           H.R. 4237, the ``Tenant Empowerment Act'' 
        introduced by Chairwoman Waters, Representative Tlaib 
        and Pressley, would protect and empower residents of 
        certain federally assisted rental housing to hold HUD 
        and providers accountable for poor housing conditions 
        and improve the quality of their homes.
           H.R. 4495, the ``Downpayment Toward Equity 
        Act of 2021'' introduced by Chairwoman Waters, 
        Representatives Green, Garcia (TX), Pressley, Axne, and 
        Garcia (IL), would address the U.S. racial wealth and 
        homeownership gaps by providing $100 billion toward 
        downpayment and other financial assistance, including 
        for interest rate buydowns, for first-generation 
        homebuyers to purchase their first home.
           H.R. 4496, the ``Ending Homelessness Act of 
        2021'' introduced by Chairwoman Waters, would establish 
        a universal voucher program, ban housing discrimination 
        based on source of income and veteran status, and 
        provide supplemental emergency funding to address the 
        homelessness crisis in the United States.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 5376, the ``Build Back Better Act'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 7981, the ``Public and Federal Assisted 
        Housing and Fire Safety Act of 2022,'' introduced by 
        Representative Dean, would a discussion draft to 
        require the installation of sealed, tamper-resistant 
        smoke detectors in federally assisted housing, and to 
        authorize $2 million for a public awareness campaign on 
        health and safety features in housing.
           H. Res. 332, the ``Recognizing the duty of 
        the Federal Government to Create a Green New Deal,'' 
        introduced by Representative Ocasio-Cortez, this 
        resolution would call for the creation of the Green New 
        Deal, which includes providing affordable, safe, and 
        adequate housing to all.
           H.R. ___, the ``Fair Chance at Housing Act'' 
        offered by Representative Ocasio-Cortez, is a 
        discussion draft that would reform the eviction and 
        screening policies for federal housing assistance.
           H.R. ___, the ``Federal Financing Bank Risk-
        Sharing Act of 2021'' offered by Representative 
        Velazquez, is a discussion draft that would require the 
        continuation of the FHA affordable rental housing 
        financing partnership with the Federal Financing Bank, 
        and for other purposes.
           H.R. ___, the ``Preventing Foreclosures on 
        Seniors Act,'' is a discussion draft that would revise 
        the FHA program for home equity conversion mortgages to 
        add safeguards to present the displacement of elderly 
        homeowners and their spouses.
           H.R. ___, the ``Improving Federal Oversight 
        of PACE Financing Act'' offered by Representative 
        Sherman, is a discussion draft that would require 
        Property Assessed Clean Energy (PACE) financiers to 
        receive the consent of mortgage holders before 
        providing financing.
           H.R. ___, offered by Representative Cleaver, 
        is a discussion draft that would reauthorize HUD's 
        Community Development Block Grant (CDBG) program, 
        streamline program use for housing production, and 
        expand flexibility to support public services. The 
        draft also advances capacity and technical assistance 
        resources to better support small and rural 
        communities.
           H.R. ___, is a discussion draft that would 
        establish a federal task force to assess the housing 
        and community development needs in areas of persistent 
        poverty, including colonias, the Southern Black Belt, 
        and the U.S. territories. The draft also requires that 
        the task force report to Congress within 12 months with 
        a set of policy recommendations to address the needs 
        identified.
           H.R. ___, is a discussion draft that would 
        authorize $700 million in housing and community 
        development investments through HUD's CDBG Program for 
        colonias, including those located outside of the 150-
        mile U.S.-Mexico border area.
           H.R. ___, is a discussion draft that would 
        authorize $500 million for affordable housing and 
        community infrastructure upgrades in manufactured 
        housing communities through HUD's CDBG Program.
           H.R. ___, is a discussion draft that would 
        authorize $3 billion through HUD's CDBG Program to 
        establish a competitive grant program to create 
        affordable, accessible housing and economic 
        redevelopment in neighborhoods experiencing 
        underinvestment and cycles of blight and abandonment.
           H.R. ___, the ``Federal Financing Bank Risk-
        Sharing Act of 2021'' offered by Representative 
        Velazquez, is a discussion draft that would require the 
        continuation of the FHA affordable rental housing 
        financing partnership with the Federal Financing Bank, 
        and for other purposes.
    Members of the Committee also sent the following letters 
regarding HUD and USDA.
           On April 26, 2021, Chairwoman Maxine Waters 
        sent a letter to the Committee on Appropriations 
        requesting fiscal year 2022 (FY22) funding for HUD's 
        McKinney Vento Homeless Assistance Grants, Housing 
        Choice Vouchers, and new permanent supportive housing 
        to address homelessness; the Community Development 
        Block Grant (CDBG) program; and direct rental 
        assistance programs, including public housing, the 
        Section 8 Housing Choice Voucher (HCV) and Project-
        Based Rental Assistance (PBRA) programs, the Section 
        202 Supportive Housing for the Elderly program (Section 
        202), and the Section 811 Supportive Housing for People 
        with Disabilities program.
           On April 26, 2021, Chairwoman Maxine Waters 
        sent a letter to the Committee on Appropriations 
        requesting FY22 funding for the USDA's Rural Housing 
        Service, which provides relief for thousands of rural 
        residents who may otherwise face significant rent 
        increases or displacement.
           On January 13, 2022, Chairwoman Maxine 
        Waters sent a letter to HUD Secretary Marcia Fudge, as 
        well as to New York and Philadelphia housing 
        authorities, local officials, and property owners 
        following two fire-related tragedies that occurred in 
        January 2022.
           On February 22, 2022, Chairwoman Maxine 
        Waters sent a letter to Marcia Fudge, Secretary of the 
        United States Department of Housing and Urban 
        Development (HUD) as well as the Appraisal 
        Subcommittee, the Appraisal Foundation, and the 
        Appraisal Institute regarding ongoing appraisal bias 
        and discrimination, calling on the federal regulators 
        and the Appraisal Institute to investigate appraiser 
        misconduct and potential illegal discrimination.
           On June 28, 2022, Chairwoman Maxine Waters 
        sent a letter to President Biden's Property Appraisal 
        and Valuation Equity (PAVE) Task Force, co-chaired by 
        HUD Secretary Fudge and White House Domestic Policy 
        Council Director Susan Rice, asking that the Task Force 
        move quickly to implement its planned administrative 
        actions and provide the Committee with a clear timeline 
        for implementation of each action.
           On June 29, 2022, Chairwoman Maxine Waters 
        sent a letter to regulators, including HUD Secretary 
        Marcia Fudge, urging them to investigate recent 
        allegations that Wells Fargo denied Black refinancing 
        applicants when interest rates were at their lowest and 
        hosted ``mock'' interviews with diverse candidates to 
        pad diversity numbers.
           On November 10, 2022, Chairwoman Maxine 
        Waters sent a letter to HUD Secretary Marcia Fudge 
        expressing concerns about HUD's latest draft 
        solicitation for Housing Assistance Payments (HAP) 
        Contract Support Services and its negative impact on 
        mission-driven Performance Based Contract 
        Administrators (PBCAs), and urges Secretary Marcia 
        Fudge to ensure the final solicitation prioritizes the 
        needs of HUD-assisted residents who rely on the long-
        term preservation and robust oversight of our county's 
        federally assisted affordable housing stock.
    Homelessness. The Full Committee held five separate 
hearings examining homelessness.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           ``Universal Vouchers: Ending Homelessness 
        and Expanding Economic Opportunity in America,'' June 
        9, 2021: This hearing focused on the need for vouchers 
        to address the nation's affordable housing crisis.
           ``Building Back A Better, More Equitable 
        Housing Infrastructure for America: Oversight of the 
        Department of Housing and Urban Development,'' July 20, 
        2021: This hearing focused on HUD's plan to respond to 
        increases in housing instability and homelessness as a 
        result of the coronavirus pandemic.
           ``A Strong Foundation: How Housing is the 
        Key to Building Back a Better America,'' October 21, 
        2021: This hearing focused on the need for $150 billion 
        in investments for fair and affordable housing, which 
        was included in the Build Back Better Act.
           ``Boom and Bust: The Need for Bold 
        Investments in Fair and Affordable Housing to Combat 
        Inflation,'' December 1, 2022: This hearing focused on 
        high housing costs, inflation in the economy and in 
        housing, monetary policy, and efforts to reduce 
        inflation and address housing costs.
    The Housing, Community Development, and Insurance 
Subcommittee held one hearing examining the homelessness 
crisis.
           ``Housing America: Addressing Challenges in 
        Serving People Experiencing Homelessness,'' February 2, 
        2022: This hearing focused on the state of the ongoing 
        homelessness crisis, the increased challenges presented 
        by the coronavirus pandemic at all levels of government 
        in addressing homelessness, and the need for flexible 
        funding to meet the unique needs of communities, 
        including in rural areas.
    The Diversity and Inclusion held two separate hearings 
examining the homelessness crisis.
           ``Access Denied: Eliminating Barriers and 
        Increasing Economic Opportunity for Justice-Involved 
        Individuals,'' September 28, 2021: This hearing focused 
        on barriers to housing and financial services for 
        justice-involved individuals, including the prison-to-
        homelessness pipeline.
           ``There's No Pride in Prejudice: Eliminating 
        Barriers to Full Economic Inclusion for the LGBTQ+ 
        Community,'' November 9, 2021: This hearing focused on 
        economic and financial inclusion barriers facing 
        individuals in the LGBTQ+ community, including wealth 
        inequality, challenges in locating safe and affordable 
        housing and employment in the financial sector.
    The Committee considered the following legislation to 
address homelessness:
           H.R. 2965, the ``Naomi Schwartz Safe Parking 
        Program Act of 2021'' introduced by Representative 
        Carbajal, would provide grants to local governments to 
        establish safe parking programs for people experiencing 
        homelessness who are living in their vehicles.
           H.R. 3891, the ``Trafficking Survivors 
        Housing Act of 2021,'' introduced by Representative 
        Beatty, would require the Interagency Council on 
        Homelessness to study and report on the availability of 
        housing and related services for human trafficking 
        victims and individuals vulnerable to becoming human 
        trafficking victims. Specifically, the study must 
        assess the availability and accessibility of housing 
        and services for such individuals who are experiencing 
        homelessness or housing instability and must identify 
        best practices in meeting the housing and service needs 
        of those individuals.
           H.R. 4495, the ``Downpayment Toward Equity 
        Act of 2021'' introduced by Chairwoman Waters, 
        Representatives Green, Garcia (TX), Pressley, Axne, and 
        Garcia (IL), would address the U.S. racial wealth and 
        homeownership gaps by providing $100 billion toward 
        downpayment and other financial assistance, including 
        for interest rate buydowns, for first-generation 
        homebuyers to purchase their first home.
           H.R. 4496, the ``Ending Homelessness Act'' 
        introduced by Chairwoman Waters, would end homelessness 
        and significantly reduce poverty in America by 
        transforming the Housing Choice Voucher program into a 
        federal entitlement, so that every household who 
        qualifies for assistance would receive it. The bill 
        also amends the Fair Housing Act to prohibit housing 
        discrimination based on an individual's source of 
        income.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 4731, the ``Veteran's Service 
        Organization Modernization Act of 2021,'' introduced by 
        Chairwoman Waters, would create a competitive grant 
        program for veteran service organizations for facility 
        rehabilitation and modernization.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 6528, the ``Housing Temperature Safety 
        Act of 2022,'' introduced by Representative Torres, 
        would require the installation of temperature sensors 
        in federally assisted housing.
           H.R. 6529, the ``Twin Parks North West Fire 
        Safety Act of 2022,'' introduced by Representative 
        Torres, would require the installation of self-closing 
        doors in federally assisted housing.
           H.R. 7196, the ``Flexibility in Addressing 
        Rural Homelessness Act of 2022'' introduced by 
        Representative Axne, would provide additional 
        flexibilities to homeless service providers in rural 
        communities to better serve people experiencing 
        homelessness and to increase provider capacity.
           H.R. 7123, the ``Studying Barriers to 
        Homelessness Act,'' introduced by Representative Garcia 
        (TX), would require the Government Accountability 
        Office to conduct a study to identify any barriers to 
        the use of public housing to provide assistance to 
        people experiencing homelessness.
           H.R. 7716, the ``Coordinating Substance Use 
        and Homelessness Care Act of 2022,'' introduced by 
        Representative Dean, would authorize a competitive 
        grant program at HUD to better coordinate health care 
        and homeless services for people with substance abuse 
        disorders who are experiencing homelessness.
           H.R. 8327, the ``Stables Families Act'' 
        introduced by Representative Torres, would authorize a 
        new program to provide short-term financial assistance 
        to extremely low-income families at risk of eviction.
           H.R. 8599, the ``GROW Affordable Housing 
        Act'' introduced by Representative Beatty, would 
        increase funding for the national Housing Trust Fund 
        and the Capital Magnet Fund and to target a portion of 
        such funds to building permanent supportive housing for 
        people with disabilities experiencing homelessness.
           H.R. ___, the ``Public Housing Procurement 
        Improvement Act'' offered by Representative Torres, is 
        a discussion draft that would reform certain 
        procurement process for PHAs.
           H.R. ___, the ``Homeless Assistance Act of 
        2021'' offered by Representative Sherman, would 
        authorize PHs to disclose certain information to 
        homeless service provider agencies to facilitate 
        providing housing and services for people experiencing 
        homelessness.
           H.R. ___, is a discussion draft that would 
        have the Government Accountability Office examine 
        barriers public housing agencies face when serving 
        people experiencing homelessness.
           H.R. ___, the ``Housing Is Health Care Act 
        of 2022,'' offered by Chairwoman Waters, is a 
        discussion draft that would establish a joint HUD-HHS 
        voucher program to pair housing assistance with 
        supportive health services.
           H.R. ___, the ``Housing Emergencies Lifeline 
        Program (HELP) Act of 2019,'' offered by Representative 
        Pressley, is a discussion draft that would provide 
        protections for tenants who have been evicted from 
        their homes by making several key changes to Fair 
        Credit Reporting Act. The legislation would also create 
        a database of eviction information.
           H.R. ___, the ``Helping People Experiencing 
        Substance Use Disorder and Homelessness Act of 2022,'' 
        offered by Representative Dean, is a discussion draft 
        that would authorize a competitive grant program at HUD 
        to better coordinate health care and homeless services 
        for people with substance abuse disorders who are 
        experiencing homelessness.
           H.R. ___, the ``Safe at Home Act of 2022,'' 
        is a discussion draft that would unify and strengthen 
        health and safety inspection standards for HUD and USDA 
        assisted housing.
           H.R. ___, the ``Housing Inspections 
        Accountability Act of 2022,'' is a discussion draft 
        that requires HUD and USDA to submit annual reports to 
        Congress regarding failed property inspections of 
        federally assisted housing and to make such reports 
        publicly available.
           H.R. ___, is a discussion draft that would 
        require the installation of sealed, tamper-resistant 
        smoke detectors in federally assisted housing, and to 
        authorize $2 million for a public awareness campaign on 
        health and safety features in housing.
           H.R. ___, the ``Fair Chance at Housing 
        Act,'' offered by Representative Ocasio-Cortez, would 
        reform the eviction and screening policies for 
        federally assisted housing to remove barriers to 
        housing, family reunification, and rehabilitation for 
        justice involved individuals.
           H.R. ___, the ``Generating Resources and 
        Opportunities Within Affordable Housing Act,'' would 
        increase funding for the national Housing Trust Fund 
        and the Capital Magnet Fund and to target a portion of 
        such funds to building permanent supportive housing for 
        homeless individuals with disabilities.
    Members of the Committee also sent the following letters 
regarding the homelessness crisis.
           On April 26, 2021, Chairwoman Maxine Waters 
        sent a letter to the Committee on Appropriations 
        requesting FY22 funding for HUD's McKinney Vento 
        Homeless Assistance Grants, Housing Choice Vouchers, 
        and new permanent supportive housing to address 
        homelessness.
           On August 4, 2022, Chairwoman Maxine Waters 
        sent a letter to the Government Accountability Office 
        (GAO) requesting that the agency conduct a review of 
        the risks that seniors experiencing housing insecurity 
        face and the federal programs that exist to prevent 
        homelessness among this population. The request also 
        urges the agency to identify racial and ethnic 
        disparities in its review.
    Rental Housing Crisis. The Full Committee held five 
separate hearings examining the rental housing crisis.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           ``Universal Vouchers: Ending Homelessness 
        and Expanding Economic Opportunity in America,'' June 
        9, 2021: This hearing focused on the need for vouchers 
        to address the nation's affordable housing crisis.
           ``Protecting Renters During the Pandemic: 
        Reviewing Reforms to Expedite Emergency Rental 
        Assistance,'' September 10, 2021: This hearing focused 
        on the Emergency Rental Assistance program limitations 
        grantees and landlords face when assisting renters at 
        risk of eviction.
           ``A Strong Foundation: How Housing is the 
        Key to Building Back a Better America,'' October 21, 
        2021: This hearing focused on the need for $150 billion 
        in investments for fair and affordable housing, which 
        was included in the Build Back Better Act.
           ``The Inflation Equation: Corporate 
        Profiteering, Supply Chain Bottlenecks, and COVID-19,'' 
        March 8. 2022: This hearing focused on housing being 
        the largest supply-demand imbalances spurring 
        inflation.
    The Housing, Community Development, and Insurance 
Subcommittee held three separate hearings examining rental 
housing crisis.
           ``Built to Last: Examining Housing 
        Resilience in the Face of Climate Change,'' May 4, 
        2021: This hearing focused on the nation's affordable 
        housing being vulnerable to the growing costs of 
        climate and weather disasters. which may accelerate the 
        need for maintenance and repair or render units of 
        housing infrastructure uninhabitable.
           ``Zoned Out: Examining the Impact of 
        Exclusionary Zoning on People, Resources,'' October 15, 
        2021: This hearing focused on the need to promote 
        inclusionary zoning policies to increase the supply of 
        housing, advance equitable housing outcomes, and 
        redress residential segregation.
           ``Persistent Poverty in America: Addressing 
        Chronic Disinvestment in Colonias, the Southern Black 
        Belt, and the U.S. Territories,'' November 15, 2021: 
        This hearing focused on the housing and community 
        development needs and challenges in these communities, 
        which are predominantly rural face.
    The Oversight and Investigations Subcommittee held one 
hearing examining the rental housing crisis.
           ``Where Have All the Houses Gone? Private 
        Equity, Single Family Rentals, and America's 
        Neighborhoods,'' June 28, 2022: This hearing focused on 
        the results of a Committee survey of the five largest 
        owners and operators of single family rental homes in 
        the United States and the effects that their growing 
        role in the housing market has had in limiting the 
        supply of affordable housing, perpetuating barriers to 
        homeownership, and exacerbating the increasing costs of 
        rentership in America.
    The Committee considered the following legislation to 
address the rental housing crisis:
           H.R. 1728, the ``Investment and Strategy in 
        Rural Housing Preservation Act'' introduced by 
        Representative Axne, would permanently authorize the 
        U.S. Department of Agriculture's (USDA) Multifamily 
        Housing and Preservation ad Revitalization (MPR) 
        Program and further authorizes $1 billion to carry out 
        the program and require USDA to come up with a plan for 
        preservation of rural multifamily housing backed by 
        USDA loans.
           H.R. 2126, the ``Housing Supply and 
        Affordability Act,'' introduced by Representative Blunt 
        Rochester, would allow HUD to award grants for the 
        development and implementation of housing plans, 
        including zoning reforms.
           H.R. 2513, the ``Lead Abatement for Families 
        Act'' introduced by Representative Garcia (IL), would 
        authorize $250 million to remove lead service lines 
        from federally assisted housing.
           H.R. 2768, the ``American Housing and 
        Economic Mobility Act,'' introduced by Representee 
        Cleaver, would provide $10 billion in competitive 
        grants to encourage local governments to eliminate 
        zoning restrictions.
           H.R. 3198, the ``Yes In My Backyard Act,'' 
        introduced by Representative Kilmer, would require 
        Community Development Block Grant (CDBG) recipients to 
        submit plans to track land use policies.
           H.R. 4695, the ``Eleanor Smith Inclusive 
        Home Design Act of 2021,'' introduced by Representative 
        Schakowsky, would require certain newly constructed, 
        federally assisted housing, including single-family 
        homes and town houses, to contain at least one level 
        that complies with specified minimum standards of 
        accessibility for individuals with disabilities. An 
        aggrieved person may commence a civil action with 
        respect to a violation of this requirement.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 5196, the ``Expediting Assistance to 
        Renters and Landlords Act of 2021'' introduced by 
        Chairwoman Maxine Waters, would make changes to ERA 1 
        and ERA 2 by allowing landlords to apply for assistance 
        on behalf of the tenant and allow grantees to accept 
        self-attestation from tenants. This bill would also 
        require Treasury and grantees to conduct additional 
        outreach and provide technical assistance and IT 
        solutions to grantees to expedite the application 
        process.
           H.R. 5376, the ``Build Back Better Act'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 7165, the ``Lead-Safe Housing for Kids 
        Act'' introduced by Representatives McEachin, Garcia 
        (IL), and Pressley, would provide comprehensive 
        measures to reduce the threat of childhood lead 
        exposure and poisoning in federally assisted housing, 
        including new funding for lead abatement.
           H.R. 8599, the ``GROW Affordable Housing 
        Act'' introduced by Representative Beatty, would 
        increase funding for the national Housing Trust Fund 
        and the Capital Magnet Fund and to target a portion of 
        such funds to building permanent supportive housing for 
        people with disabilities experiencing homelessness.
           H.R. ___, introduced by Representative 
        Cleaver, is a discussion draft that would reauthorize 
        HUD's Community Development Block Grant (CDBG) program, 
        streamline program use for housing production, and 
        expand flexibility to support public services. The 
        draft also advances capacity and technical assistance 
        resources to better support small and rural 
        communities.
           H.R. ___, is a discussion draft that would 
        establish a federal task force to assess the housing 
        and community development needs in areas of persistent 
        poverty, including colonias, the Southern Black Belt, 
        and the U.S. territories. The draft also requires that 
        the task force report to Congress within 12 months with 
        a set of policy recommendations to address the needs 
        identified.
           H.R. ___, is a discussion draft to authorize 
        $700 million in housing and community development 
        investments through HUD's CDBG Program for colonias, 
        including those located outside of the 150-mile U.S.-
        Mexico border area.
           H.R. ___, is a discussion draft to authorize 
        $500 million for affordable housing and community 
        infrastructure upgrades in manufactured housing 
        communities through HUD's CDBG Program.
           H.R. ___, is a discussion draft to authorize 
        $3 billion through HUD's CDBG Program to establish a 
        competitive grant program to create affordable, 
        accessible housing and economic redevelopment in 
        neighborhoods experiencing underinvestment and cycles 
        of blight and abandonment.
           H.R. ___, the ``Stable Families Act,'' is a 
        discussion draft to authorize a new program to provide 
        short-term financial assistance to extremely low-income 
        families at risk of eviction.
    Members of the Committee also sent the following letters 
regarding the rental housing crisis.
           On April 26, 2021, Chairwoman Maxine Waters 
        sent a letter to the Committee on Appropriations 
        requesting funding for HUD's direct rental assistance 
        programs, including for public housing, the Section 8 
        Housing Choice Voucher (HCV) and Project-Based Rental 
        Assistance (PBRA) programs, the Section 202 Supportive 
        Housing for the Elderly program (Section 202), and the 
        Section 811 Supportive Housing for People with 
        Disabilities program.
           On January 13, 2022, Chairwoman Maxine 
        Waters sent a letter to HUD Secretary Marcia Fudge, as 
        well as to New York and Philadelphia housing 
        authorities, local officials, and property owners 
        following two fire-related tragedies that occurred in 
        January 2022.
           On February 16, 2022, Chairwoman Maxine 
        Waters and Congressman Jimmy Gomez (D-CA) co-led a 
        letter with 36 Members of California's Congressional 
        delegation sent a letter to Treasury Secretary Janet 
        Yellen urging the Department of the Treasury to 
        reallocate unused Emergency Rental Assistance Program 
        (ERA) funds to states with the highest need for such 
        aid.
           On November 4, 2022, Chairwoman Maxine 
        Waters sent a letter to Chair Powell urging him to 
        consider the significant pain that these rate increases 
        may inflict on families across the country and the 
        impact these increases are having on the cost of 
        housing, which remains a key driver of core inflation.
    Public Housing. The Full Committee held two separate 
hearings examining public housing:
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           ``A Strong Foundation: How Housing is the 
        Key to Building Back a Better America,'' October 21, 
        2021: This hearing focused on the need for $150 billion 
        in investments for fair and affordable housing, which 
        was included in the Build Back Better Act.
    The Housing, Community Development and Insurance 
Subcommittee held four separate hearings examining public 
housing:
           ``Preserving a Lifeline: Examining Public 
        Housing in a Pandemic,'' March 24, 2021: This hearing 
        focused on topic ensuring residents have an affordable 
        home and provide supportive services to help residents 
        are safe and connected to their communities.
           ``A Matter of Life and Death: Improving Fire 
        Safety in Federally Assisted Housing,'' April 20, 2022: 
        This hearing focused on the need for HUD to conduct 
        routine inspections in federally assisted housing to 
        ensure safety and their units are up to code. This 
        hearing also focuses on HUD's new physical inspection 
        model NSPIRE.
           ``Built to Last: Examining Housing 
        Resilience in the Face of Climate Change,'' May 4, 
        2021: This hearing focused on the nation's affordable 
        housing being vulnerable to the growing costs of 
        climate and weather disasters, which may accelerate the 
        need for maintenance and repair or render units of 
        housing infrastructure uninhabitable.
           ``Persistent Poverty in America: Addressing 
        Chronic Disinvestment in Colonias, the Southern Black 
        Belt, and the U.S. Territories,'' November 15, 2022: 
        This hearing focused on the housing and community 
        development needs and challenges in these communities, 
        which are predominantly rural face.
    The Committee considered the following legislation to 
address public housing:
           H.R. 165, the ``Improving Access to Homes 
        for Heroes Act of 2021,'' introduced by Representative 
        Green, would require public housing agencies to 
        consider the housing needs of veterans when creating 
        their annual plans and housing strategies, the latter 
        in consultation with agencies that serve veterans. 
        Similarly, the Department of Housing and Urban 
        Development (HUD) must revise its regulations to 
        require jurisdictions that receive funding from HUD to 
        include information relating to veterans in their 
        consolidated plans.
           H.R. 235, the ``Public Housing Emergency 
        Response Act,'' introduced by representative Velazquez, 
        would authorize $70 billion to the Public Housing 
        Capital Fund.
           H.R. 659, the ``Repeal the Faircloth 
        Amendment Act of 2021,'' introduced by Representative 
        Ocasio Cortez, would repeal the Faircloth Amendment 
        that prohibits the expansion of public housing.
           H.R. 1904, the ``Broadband Justice Act of 
        2021,'' introduced by Representative Bowman, would 
        require HUD and USDA to update agency definitions on 
        utility allowances to include broadband, and to 
        authorize a grant program to help wire federally 
        assisted housing.
           H.R. 2215, the Our Homes, Our Votes Act,'' 
        introduced by Representative Garcia (IL), would 
        facilitate voter registration for residents of certain 
        federally assisted housing for the purpose of federal 
        elections. Specifically, this bill requires each lease 
        and annual income recertification for such housing that 
        is administered by a public housing agency (PHA) to 
        include a voter registration application. A PHA must 
        send any completed application to state election 
        officials. This bill would also treat owners of 
        federally assisted housing as voter registration 
        officials.
           H.R. 2513, the ``Lead Abatement for Families 
        Act,'' introduced by Representative Garcia of Illinois, 
        would authorize $250 million to remove lead service 
        lines from federally assisted housing.
           H.R. 2638, the ``Public Housing Fire Safety 
        Act,'' introduced by Watson Coleman, would create a 
        grant program for public housing agencies to install 
        automatic sprinkler systems.
           H.R. 3006, the ``Promoting Resident 
        Opportunities and Self-Sufficiency Act,'' introduced by 
        Representative Adams, would ensure public housing 
        residents remain eligible to participate in the 
        Resident Opportunities and Self-Sufficiency (ROSS) and 
        Jobs Plus programs after the public housing development 
        where they live have been converted to Section 8 
        housing under the Rental Assistance Demonstration 
        (RAD).
           H.R. 3279, the ``HUD Inspection Oversight 
        Act of 2021,'' introduced by Representative Lawson, 
        would modify inspection and oversight protocols under 
        the Housing Choice Voucher Program, including by 
        directing HUD to take certain enforcement actions when 
        a property's inspection score falls below a specific 
        threshold.
           H.R. 3555, the ``Voters on the Move 
        Registration Act,'' introduced by Representative 
        Williams, would require he Consumer Financial 
        Protection Bureau to develop, and specified agencies to 
        distribute, a statement providing individuals with 
        information on how to register to vote and their voting 
        rights. This information must be provided to 
        individuals upon their participation in certain rental 
        assistance programs or application for certain 
        residential mortgages.
           H.R. 3891, the ``Trafficking Survivors 
        Housing Act of 2021,'' introduced by Representative 
        Beatty, would require the Interagency Council on 
        Homelessness to study and report on the availability of 
        housing and related services for human trafficking 
        victims and individuals vulnerable to becoming human 
        trafficking victims. Specifically, the study must 
        assess the availability and accessibility of housing 
        and services for such individuals who are experiencing 
        homelessness or housing instability and must identify 
        best practices in meeting the housing and service needs 
        of those individuals.
           H.R. 4442, the ``Green New Deal for Public 
        Housing Act of 2021,'' introduced by Representative 
        Ocasio-Cortez, would authorize funding to repair and 
        modernize public housing.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021,'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 4948, the ``Choice Neighborhoods 
        Initiative Act of 2021,'' introduced by Representative 
        Cleaver, would permanently authorize the Choice 
        Neighborhoods Initiative Program.
           H.R. 4901, the ``Public Housing Procurement 
        Improvement Act of 2021,'' introduced by Representative 
        Torres, would allow a public housing agency (PHA) to 
        use any of the following contract arrangements in a 
        federally funded low-income housing project for the 
        development of dwelling units owned or operated by the 
        PHA: (1) design-build, (2) construction management, (3) 
        best value, (4) prequalification, or (5) guaranteed 
        maximum price.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 6556, the ``Landlord Accountability Act 
        of 2022,'' introduced by Representative Velazquez, 
        would provide protections to tenants in federally 
        assisted housing and establishes a low-income tax 
        credit for eligible landlords.
           H.R. 6528, the ``Housing Temperature Safety 
        Act of 2022,'' introduced by Representative Torres, 
        would require the installation of temperature sensors 
        in federally assisted housing.
           H.R. 6529, the ``Twin Parks North West Fire 
        Safety Act of 2022,'' introduced by Representative 
        Torres, would require the installation of self-closing 
        doors in federally assisted housing.
           H.R. 6696, the ``HELP Act of 2022,'' 
        introduced by Representative Pressley, would create a 
        database of eviction information, establish grant 
        programs for eviction prevention and legal aid, and 
        limit use of housing court-related records in consumer 
        reports, and for other purposes.
           H.R. 6880, the ``Choice in Affordable 
        Housing Act of 2022,'' introduced by Representative 
        Cleaver, would improve the ability of Housing Choice 
        Voucher (HCV) holders to access safe and decent 
        affordable housing through grants to encourage landlord 
        participation in the HCV program, as well as reforms to 
        the HCV program.
           H.R. 7165, the ``Lead-Safe Housing for Kids 
        Act,'' introduced by Representatives McEachin, Garcia 
        (IL), and Pressley, would provide comprehensive 
        measures to reduce the threat of childhood lead 
        exposure and poisoning in federally assisted housing, 
        including new funding for lead abatement.
           H.R. 8778, the ``Home Internet Accessibility 
        Act,'' introduced by Representative Williams, would 
        require the Comptroller General submit a report to 
        Congress on the accessibility and capacity federally 
        assisted housing are able to support broadband service.
           H.R. ___, the ``Consumer Protection for 
        Tenants Act,'' introduced by Representative Williams, 
        is a discussion draft to authorize the Consumer 
        Financial Protection Bureau to collect and address 
        consumer complaints from renters, such as unlawful 
        evictions or maintenance delays.
           H.R. ___, the ``Public Housing Tenant 
        Protection Act of 2021,'' offered by Chairwoman Waters, 
        is a discussion draft that would (1) require one-for-
        one replacement for any public housing units that are 
        demolished or disposed of; (2) provide additional 
        protections for residents through the revitalization 
        process, including stronger notification requirements, 
        increased resident involvement in the planning and 
        implementation stages, and more robust tenant 
        protections regarding relocation; (3) allow the 
        Secretary of HUD to establish the Capital Fund Loan 
        Guarantee, which would allow housing authorities to 
        attract private investment to rehabilitate public 
        housing properties; and (4) support public housing 
        residents through job training to provide for increased 
        earnings and positive life outcomes.
           H.R. ___, the ``Supporting Seniors and 
        Tenants in Subsidized Housing Act,'' offered by 
        Representative Cleaver, is a discussion draft that 
        would provide additional protections for public housing 
        residents during the coronavirus pandemic and would 
        provide supplemental funding for supportive housing for 
        the elderly.
           H.R. ___, the ``Public Housing and Section 8 
        Operational Response Act for COVID-19,'' offered by 
        Representative Velazquez, is a discussion draft that 
        would provide $5 billion for the Public Housing 
        Operating fund and $3.5 billion for tenant-based rental 
        assistance to respond to the coronavirus pandemic.
           H.R. ___, the ``Affordable Housing 
        Preservation Act,'' offered by Representative Torres, 
        is a discussion draft that would reform the Rental 
        Assistance Demonstration to provide additional 
        protections for residents and to better ensure long-
        term affordability.
           H.R. ___, the ``Safe at Home Act of 2022,'' 
        is a discussion draft that would unify and strengthen 
        health and safety standards for HUD and USDA assisted 
        housing.
           H.R. ___, offered by Representative Dean, is 
        a discussion draft that would require the installation 
        of sealed, tamper-resistant smoke detectors in 
        federally assisted housing, and to authorize $2 million 
        for a public awareness campaign on health and safety 
        features in housing.
           H.R. ___, the ``Housing Inspections 
        Accountability Act of 2022,'' offered by Representative 
        Ocasio-Cortez, is a discussion draft that would require 
        HUD and USDA to submit annual reports to Congress 
        regarding filed property inspections of federally 
        assisted housing and to make such reports publicly 
        available.
           H.R. ___, the ``Consumer Protection for 
        Tenants Act,'' offered by Representative Williams, is a 
        discussion draft to authorize the Consumer Financial 
        Protection Bureau to collect and address consumer 
        complaints from renters, such as unlawful evictions or 
        maintenance delays.
           H.R. ___, offered by Representative Cleaver, 
        is a discussion draft that would reauthorize HUD's 
        Community Development Block Grant (CDBG) program, 
        streamline program use for housing production, and 
        expand flexibility to support public services. The 
        draft also advances capacity and technical assistance 
        resources to better support small and rural 
        communities.
           H.R. ___, is a discussion draft to establish 
        a federal task force to assess the housing and 
        community development needs in areas of persistent 
        poverty, including colonias, the Southern Black Belt, 
        and the U.S. territories. The draft also requires that 
        the task force report to Congress within 12 months with 
        a set of policy recommendations to address the needs 
        identified.
           H.R. ___, is a discussion draft to authorize 
        $700 million in housing and community development 
        investments through HUD's CDBG Program for colonias, 
        including those located outside of the 150-mile U.S.-
        Mexico border area.
           H.R. ___, is a discussion draft to authorize 
        $500 million for affordable housing and community 
        infrastructure upgrades in manufactured housing 
        communities through HUD's CDBG Program.
           H.R. ___, is a discussion draft to authorize 
        $3 billion through HUD's CDBG Program to establish a 
        competitive grant program to create affordable, 
        accessible housing and economic redevelopment in 
        neighborhoods experiencing underinvestment and cycles 
        of blight and abandonment.
           H.R. ___, the ``Consumer Protection for 
        Tenants Act,'' introduced by Representative Williams, 
        is a discussion draft to authorize the Consumer 
        Financial Protection Bureau to collect and address 
        consumer complaints from renters, such as unlawful 
        evictions or maintenance delays.
    Members of the Committee also sent the following letters 
regarding public housing.
           On April 26, 2021, Chairwoman Maxine Waters 
        sent a letter to the Committee on Appropriations 
        requesting funding for HUD's direct rental assistance 
        programs, including for public housing.
           On January 13, 2022, Chairwoman Maxine 
        Waters sent a letter to HUD Secretary Marcia Fudge, as 
        well as to New York and Philadelphia housing 
        authorities, local officials, and property owners 
        following two fire-related tragedies that occurred in 
        January 2022.
    Rural Housing. The Full Committee held two separate 
hearings examining rural housing and community development 
needs.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           ``A Strong Foundation: How Housing is the 
        Key to Building Back a Better America,'' October 21, 
        2021: This hearing focused on the need for $150 billion 
        in investments for fair and affordable housing, which 
        was included in the Build Back Better Act.
    The Housing, Community Development and Insurance 
Subcommittee held three separate hearings examining rural 
housing and community development needs.
           ``NAHASDA Reauthorization: Addressing 
        Historic Disinvestment and the Ongoing Plight of the 
        Freedmen in Native American Communities,'' July 27, 
        2021: This hearing focused on the severe housing needs 
        of Native Americans and Native Hawaiians. This hearing 
        also is focused on the recognition of the descendants 
        of the Black Native American Freedmen equal to native 
        citizens.
           ``Housing America: Addressing Challenges in 
        Serving People Experiencing Homelessness,'' February 2, 
        2022: This hearing focused on the state of the ongoing 
        homelessness crisis, the increased challenges presented 
        by the coronavirus pandemic at all levels of government 
        in addressing homelessness, and the need for flexible 
        funding to meet the unique needs of communities, 
        including in rural areas.
           ``Persistent Poverty in America: Addressing 
        Chronic Disinvestment in Colonias, the Southern Black 
        Belt, and the U.S. Territories,'' November 15, 2022: 
        This hearing focused on the need for investments in 
        rural areas.
    The Committee considered the following legislation to 
address rural housing and community development needs:
           H.R. 816, the ``Restoring Communities Left 
        Behind Act,'' introduced by Representative Kaptur, 
        would establish a new competitive grant program to 
        provide funds to carry out neighborhood revitalization 
        activities.
           H.R. 1706, the ``Emergency Homelessness 
        Assistance Act of 2021,'' introduced by Representative 
        Sherman, would authorize PHAs to disclose certain 
        information to homeless service provider agencies to 
        facilitate providing housing and services for people 
        experiencing homelessness.
           H.R. 1719, the Emergency Tribal Housing 
        Assistance Act of 2021,'' introduced by Representative 
        Vargas, would provide additional FY2021 funding for 
        tribal communities to prevent, prepare for, and respond 
        to COVID-19 (i.e., coronavirus disease 2019). 
        Specifically, the bill provides funding for federal 
        housing assistance through the Native American Housing 
        Block Grant, Native Hawaiian Housing Block Grant, and 
        Indian Community Development Block Grant programs.
           H.R. 1728, the ``Investment and Strategy in 
        Rural Housing Preservation Act,'' introduced by 
        Representative Axne, would permanently authorize the 
        U.S. Department of Agriculture's (USDA) Multifamily 
        Housing and Preservation ad Revitalization (MPR) 
        Program and further authorizes $1 billion to carry out 
        the program and require USDA to come up with a plan for 
        preservation of rural multifamily housing backed by 
        USDA loans.
           H.R. 1882, the ``VAWA Protections for Rural 
        Women Act of 2021,'' introduced by Representative 
        Gonzalez, would add the Rural Development Voucher 
        Program to the list of covered housing programs under 
        the Violence Against Women Act of 1994 (VAWA). 
        Specifically, it extends VAWA's housing protections 
        (e.g., protection from eviction or denial of housing) 
        to residents and applicants under the Rural Development 
        Voucher Program who are victims of domestic violence, 
        dating violence, sexual assault, or stalking.
           H.R. 2126, the ``Housing Supply and 
        Affordability Act,'' introduced by Representative Blunt 
        Rochester, would allow the Department of Housing and 
        Urban Development to award grants to states, local 
        governments, Indian tribes, and Native Hawaiian 
        organizations for the development and implementation of 
        housing policy plans. These plans must increase the 
        housing supply while avoiding resident displacement, 
        increasing housing affordability, and reduce barriers 
        to housing development.
           H.R. 2513, the ``Lead Abatement for Families 
        Act,'' introduced by Representative Garcia of Illinois, 
        would authorize $250 million to remove lead service 
        lines from federally assisted housing.
           H.R. 4377, the ``Volunteer First Responders 
        Housing Act,'' introduced by Representative Axne, would 
        expand eligibility to qualified volunteer first 
        responders for assistance under (1) the Department of 
        Agriculture Single Family Housing Guaranteed Loan 
        Program, and (2) certain Department of Housing and 
        Urban Development single-family property disposition 
        programs.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021,'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 5195, the ``Native American Housing 
        Assistance and Self-Determination Act,'' introduced by 
        Chairwoman Waters, would reauthorize and reform Native 
        American housing programs and ensure equal access to 
        housing and community development resources for the 
        descendants of Black Native American Freedmen.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 6556, the ``Landlord Accountability Act 
        of 2022,'' introduced by Representative Velazquez, 
        would provide protections to tenants in federally 
        assisted housing and establishes a low-income tax 
        credit for eligible landlords.
           H.R. 7123, the ``Studying Barriers to 
        Homelessness Act,'' introduced by Representative Garcia 
        (TX), would require the Government Accountability 
        Office to conduct a study to identify any barriers to 
        the use of public housing to provide assistance for the 
        homeless.
           H.R. 7165, the ``Lead-Safe Housing for Kids 
        Act,'' introduced by Representatives McEachin, Garcia 
        (IL), and Pressley, would provide comprehensive 
        measures to reduce the threat of childhood lead 
        exposure and poisoning in federally assisted housing, 
        including new funding for lead abatement.
           H.R. 7196, the ``Flexibility in Addressing 
        Rural Homelessness Act of 2022,'' introduced by 
        Representative Axne, would provide additional 
        flexibilities to homeless service providers in rural 
        communities to better serve people experiencing 
        homelessness and to increase provider capacity.
           H.R. 7911, the ``Safe at Home Act of 2022,'' 
        introduced by Representative Axne, would unify, and 
        strengthen health and safety inspection standards for 
        HUD and USDA assisted housing.
           H.R. 8476, the ``Housing Inspections 
        Accountability Act of 2022,'' introduced by 
        Representative Ocasio-Cortez, would require HUD and 
        USDA to submit annual reports to Congress regarding 
        failed property inspections of federally assisted 
        housing and to make such reports publicly available.
           H.R. 8599, the ``GROW Affordable Housing 
        Act,'' introduced by Representative Beatty, would 
        increase funding for the national Housing Trust Fund 
        and the Capital Magnet Fund and to target a portion of 
        such funds to building permanent supportive housing for 
        people with disabilities experiencing homelessness.
           H.R. ___, offered by Representative Cleaver, 
        is a discussion draft that would reauthorize HUD's 
        Community Development Block Grant (CDBG) program, 
        streamline program use for housing production, and 
        expand flexibility to support public services. The 
        draft also advances capacity and technical assistance 
        resources to better support small and rural 
        communities.
           H.R. ___, is a discussion draft to establish 
        a federal task force to assess the housing and 
        community development needs in areas of persistent 
        poverty, including colonias, the Southern Black Belt, 
        and the U.S. territories. The draft also requires that 
        the task force report to Congress within 12 months with 
        a set of policy recommendations to address the needs 
        identified.
           H.R. ___, is a discussion draft to authorize 
        $700 million in housing and community development 
        investments through HUD's CDBG Program for colonias, 
        including those located outside of the 150-mile U.S.-
        Mexico border area.
           H.R. ___, is a discussion draft to authorize 
        $500 million for affordable housing and community 
        infrastructure upgrades in manufactured housing 
        communities through HUD's CDBG Program.
           H.R. ___, is a discussion draft to authorize 
        $3 billion through HUD's CDBG Program to establish a 
        competitive grant program to create affordable, 
        accessible housing and economic redevelopment in 
        neighborhoods experiencing underinvestment and cycles 
        of blight and abandonment.
    Members of the Committee also sent the following letter 
regarding rural housing and community development needs.
           On April 26, 2021, Chairwoman Maxine Waters 
        sent a letter to the Committee on Appropriations 
        requesting FY22 funding for the USDA's Rural Housing 
        Service, which provides relief for thousands of rural 
        residents who may otherwise face significant rent 
        increases or displacement.
    Community Development. The Full Committee held two separate 
hearings examining community development.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           ``A Strong Foundation: How Housing is the 
        Key to Building Back a Better America,'' October 21, 
        2021: This hearing focused on the need for $150 billion 
        in investments for fair and affordable housing, which 
        was included in the Build Back Better Act.
    The Housing, Community Development and Insurance 
Subcommittee held four separate hearings examining community 
development needs.
           ``Built to Last: Examining Housing 
        Resilience in the Face of Climate Change,'' May 4, 
        2021: This hearing focused on the nation's affordable 
        housing being vulnerable to the growing costs of 
        climate and weather disasters. which may accelerate the 
        need for maintenance and repair or render units of 
        housing infrastructure uninhabitable.
           ``Zoned Out: Examining the Impact of 
        Exclusionary Zoning on People, Resources,'' October 15, 
        2021: This hearing focused on the need to promote 
        inclusionary zoning policies to increase the supply of 
        housing, advance equitable housing outcomes, and 
        redress residential segregation.
           ``A Matter of Life and Death: Improving Fire 
        Safety in Federally Assisted Housing,'' April 20, 2022: 
        This hearing focused on the need for HUD to conduct 
        routine inspections in federally assisted housing to 
        ensure safety and their units are up to code. This 
        hearing also focuses on HUD's new physical inspection 
        model NSPIRE.
           ``Persistent Poverty in America: Addressing 
        Chronic Disinvestment in Colonias, the Southern Black 
        Belt, and the U.S. Territories,'' November 15, 2022: 
        This hearing focused on the need for investments in 
        rural areas.
    The Oversight and Investigations Subcommittee held two 
separate hearings examining community development needs.
           ``CDBG Disaster Recovery: States, Cities, 
        and Denials of Funding,'' July 15, 2021: This hearing 
        focused on the increasingly large-scale of natural 
        disasters resulting in catastrophic damage around the 
        United States, that disproportionately impact 
        vulnerable populations.
           ``Ensuring Equitable Delivery of Disaster 
        Benefits to Vulnerable Communities and Peoples: An 
        Examination of GAO's Findings of the CDBG Program,'' 
        January 19, 2022: This hearing focused on the findings 
        of a report issued by the Government Accountability 
        Office entitled, ``Better Data Are Needed to Ensure HUD 
        Block Grant Funds Reach Vulnerable Populations.''
    The Committee considered the following legislation to 
address community development:
           H.R. 816, the ``Restoring Communities Left 
        Behind Act,'' introduced by Representative Kaptur, 
        would establish a new competitive grant program to 
        provide funds to carry out neighborhood revitalization 
        activities.
           H.R. 1728, the ``Investment and Strategy in 
        Rural Housing Preservation Act,'' introduced by 
        Representative Axne, would permanently authorize the 
        U.S. Department of Agriculture's (USDA) Multifamily 
        Housing and Preservation ad Revitalization (MPR) 
        Program and further authorizes $1 billion to carry out 
        the program and require USDA to come up with a plan for 
        preservation of rural multifamily housing backed by 
        USDA loans.
           H.R. 1904, the ``Broadband Justice Act,'' 
        introduced by Representative Bowman, would create a 
        flexible grant program to install broadband in 
        federally assisted housing and provide support services 
        to residents to facilitate the use of internet.
           H.R. 2126, the ``Housing Supply and 
        Affordability Act,'' introduced by Representative Blunt 
        Rochester, would allow the Department of Housing and 
        Urban Development to award grants to states, local 
        governments, Indian tribes, and Native Hawaiian 
        organizations for the development and implementation of 
        housing policy plans. These plans must increase the 
        housing supply while avoiding resident displacement, 
        increasing housing affordability, and reduce barriers 
        to housing development.
           H.R. 2513, the ``Lead Abatement for Families 
        Act,'' introduced by Representative Garcia (IL), would 
        authorize $250 million to remove lead service lines 
        from federally assisted housing.
           H.R. 2638, the ``Public Housing Fire Safety 
        Act,'' introduced by Representative Watson Coleman is a 
        bill to create a grant program for public housing 
        agencies to install automatic sprinkler systems.
           H.R. 3279, the ``HUD Inspection Oversight 
        Act of 2021,'' introduced by Representative Lawson, 
        would modify inspection and oversight protocols under 
        the Housing Choice Voucher Program, including by 
        directing HUD to take certain enforcement actions when 
        a property's inspection score falls below a specific 
        threshold.
           H.R. 4442, the ``Green New Deal for Public 
        Housing Act of 2021,'' introduced by Representative 
        Ocasio-Cortez, would authorize funding to repair and 
        modernize public housing.
           H.R. 4495, the ``Downpayment Toward Equity 
        Act of 2021,'' introduced by Chairwoman Waters, 
        Representatives Green, Garcia (TX), Pressley, Axne, and 
        Garcia (IL), would address the U.S. racial wealth and 
        homeownership gaps by providing $100 billion toward 
        downpayment and other financial assistance, including 
        for interest rate buydowns, for first-generation 
        homebuyers to purchase their first home.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021,'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 4695, the ``Eleanor Smith Inclusive 
        Home Design Act of 2021,'' introduced by Representative 
        Schakowsky, would require certain newly constructed, 
        federally assisted housing, including single-family 
        homes and town houses, to contain at least one level 
        that complies with specified minimum standards of 
        accessibility for individuals with disabilities. An 
        aggrieved person may commence a civil action with 
        respect to a violation of this requirement.
           H.R. 4707, the ``Reforming Disaster Recovery 
        Act,'' introduced by Representative Green, would 
        permanently authorize and reform the CDBG Disaster 
        Recovery Program.
           H.R. 4948, the ``Choice Neighborhoods 
        Initiative Act of 2021,'' introduced by Representative 
        Cleaver, which would permanently authorize the Choice 
        Neighborhoods Initiative Program.
           H.R. 4979, the ``Maintaining Access to 
        Essential Services Act of 2021,'' introduced by 
        Representative Tlaib, would establish several loan 
        programs to assist households with paying utility bills 
        for drinking water, wastewater, stormwater management, 
        energy (e.g., electricity, natural gas, or propane), 
        and internet services during the COVID-19 public health 
        emergency. Under the programs, the utilities may apply 
        for loans that are equal to the amount of the payment 
        shortfall from their customers during the emergency.
           H.R. 5195, the ``Native American Housing 
        Assistance and Self-Determination Act,'' introduced by 
        Chairwoman Waters, would reauthorize and reform Native 
        American housing programs and ensure equal access to 
        housing and community development resources for the 
        descendants of Black Native American Freedmen.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 6528, the ``Housing Temperature Safety 
        Act of 2022,'' introduced by Representative Torres, 
        would require the installation of temperature sensors 
        in federally assisted housing.
           H.R. 6529, the ``Twin Parks North West First 
        Safety Act of 2022,'' introduced by Torres, would 
        require the installation of self-closing doors in 
        federally assisted housing.
           H.R. 6556, the ``Landlord Accountability Act 
        of 2022,'' introduced by Representative Velazquez, 
        would provide protections to tenants in federally 
        assisted housing and establishes a low-income tax 
        credit for eligible landlords.
           H.R. 6880, the ``Choice in Affordable 
        Housing Act of 2022,'' introduced by Representative 
        Cleaver, would improve the ability of Housing Choice 
        Voucher (HCV) holders to access safe and decent 
        affordable housing through grants to encourage landlord 
        participation in the HCV program, as well as reforms to 
        the HCV program.
           H.R. 7165, the ``Lead-Safe Housing for Kids 
        Act,'' introduced by Representatives McEachin, Garcia 
        (IL), and Pressley, would provide comprehensive 
        measures to reduce the threat of childhood lead 
        exposure and poisoning in federally assisted housing, 
        including new funding for lead abatement.
           H.R. 8599, the ``GROW Affordable Housing 
        Act,'' introduced by Representative Beatty, which would 
        increase funding for the national Housing Trust Fund 
        and the Capital Magnet Fund and to target a portion of 
        such funds to building permanent supportive housing for 
        people with disabilities experiencing homelessness.
           H.R. 8833, the ``Making Communities Stronger 
        through the Community Reinvestment Act,'' introduced by 
        Chairwoman Waters, would revise CRA rules to ensure 
        that bank loans and investments are meaningful and 
        responsive to the needs of low- and moderate-income 
        communities, communities of color, and meeting the 
        local needs of communities where banks have branches 
        and issue most of their loans. Specifically, this bill 
        would encourage banks to tailor their community 
        development services, require banks to regularly meet 
        with stakeholders to discuss current and future CRA 
        obligations where banks have facilities, evaluate the 
        lending activities completed through a nonbank or 
        fintech partner, encourage banks to issue small-dollar 
        mortgages, introduce stronger consequences for bank 
        activities that are discriminatory or violate consumer 
        financial protection laws, and require the Federal 
        financial supervisory agencies to conduct a study 
        identifying ongoing discrimination or racial 
        disparities in access to credit.
           H.R. ___, the ``National Flood Program 
        Reauthorization Act of 2021,'' offered by Chairwoman 
        Waters, would reauthorize the National Flood Insurance 
        Program (NFIP) for five years, enacting a number of 
        reforms to place the NFIP on sound financial footing 
        and make the program more resilient, institute a cap on 
        premium increase of 9 percent per year, and forgive 
        over $20 billion in NFIP debt.
           H.R. ___, the ``Federal Financing Bank Risk-
        Sharing Act of 2021,'' offered by Representative 
        Velazquez, would require the continuation of the FHA 
        affordable rental housing financing partnership with 
        the Federal Financing Bank, and for other purposes.
           H.R. ___, the ``National Flood Insurance 
        Program Administrative Reform Act of 2021,'' offered by 
        Representative Velazquez, would modify the NFIP claims 
        process for policyholders by establishing a pilot 
        program for pre-inspection of homes that are covered 
        through NFIP, strengthening protections for 
        policyholders whose NFIP claims are denied, and 
        enacting other reforms.
           H.R. ___, offered by Representative Cleaver, 
        is a discussion draft that would reauthorize HUD's 
        Community Development Block Grant (CDBG) program, 
        streamline program use for housing production, and 
        expand flexibility to support public services. The 
        draft also advances capacity and technical assistance 
        resources to better support small and rural 
        communities.
           H.R. ___, is a discussion draft to establish 
        a federal task force to assess the housing and 
        community development needs in areas of persistent 
        poverty, including colonias, the Southern Black Belt, 
        and the U.S. territories. The draft also requires that 
        the task force report to Congress within 12 months with 
        a set of policy recommendations to address the needs 
        identified.
           H.R. ___, is a discussion draft to authorize 
        $700 million in housing and community development 
        investments through HUD's CDBG Program for colonias, 
        including those located outside of the 150-mile U.S.-
        Mexico border area.
           H.R. ___, is a discussion draft to authorize 
        $500 million for affordable housing and community 
        infrastructure upgrades in manufactured housing 
        communities through HUD's CDBG Program.
           H.R. ___, is a discussion draft to authorize 
        $3 billion through HUD's CDBG Program to establish a 
        competitive grant program to create affordable, 
        accessible housing and economic redevelopment in 
        neighborhoods experiencing underinvestment and cycles 
        of blight and abandonment.
           H.R. ___, the ``Safe at Home Act of 2022,'' 
        is a discussion draft to unify and strengthen health 
        and safety standards for HUD and USDA assisted housing.
           H.R. ___, introduced by Representative Dean, 
        is a discussion draft to require the installation of 
        sealed, tamper-resistant smoke detectors in federally 
        assisted housing, and to authorize $2 million for a 
        public awareness campaign on health and safety features 
        in housing.
           H.R. ___, the ``Housing Inspections 
        Accountability Act of 2022,'' introduced by 
        Representative Ocasio-Cortez, is a discussion draft to 
        require HUD and USDA to submit annual reports to 
        Congress regarding filed property inspections of 
        federally assisted housing and to make such reports 
        publicly available.
    Members of the Committee also sent the following letters 
regarding community development.
           On April 26, 2021, Chairwoman Maxine Waters 
        sent a letter to the Committee on Appropriations 
        requesting funding for HUD's Community Development 
        Block Grant (CDBG) program, one of the most effective 
        programs for growing local economies.
           On September 23, 2022, Chairwoman Maxine 
        Waters and Congresswoman Nydia Velazquez sent a letter 
        to President Biden calling on the administration to 
        remain steadfast in its commitment to equitable 
        disaster recovery by moving quickly to approve every 
        municipality in Puerto Rico for Individual Assistance 
        (IA) through FEMA, which allows impacted families to 
        apply for financial and direct assistance to cover 
        housing and other necessary expenses.
    Climate Change and Green Housing. The Full Committee held 
three separate hearings examining climate change and green 
housing.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           ``A Strong Foundation: How Housing is the 
        Key to Building Back a Better America,'' October 21, 
        2021: This hearing focused on the need for $150 billion 
        in investments for fair and affordable housing, which 
        was included in the Build Back Better Act.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including climate related-related financial risks.
    The Housing, Community Development and Insurance 
Subcommittee held two separate hearings examining climate 
change and green housing.
           ``Built to Last: Examining Housing 
        Resilience in the Face of Climate Change,'' May 4, 
        2021: This hearing focused on the nation's affordable 
        housing being vulnerable to the growing costs of 
        climate and weather disasters. which may accelerate the 
        need for maintenance and repair or render units of 
        housing infrastructure uninhabitable.
           ``State of Emergency: Examining the Impact 
        of Growing Wildfire Risk on the Insurance Market,'' 
        September 22, 2022: This hearing focused on growing 
        risk exposure and a significant spike in insurance loss 
        in recent years, as some insurers have begun to 
        increase rates or exit regions where a large volume of 
        wildfire claims have occurred in recent years.
    The Oversight and Investigations Subcommittee held two 
separate hearings examining climate change and green housing.
           ``CDBG Disaster Recovery: States, Cities, 
        and Denials of Funding,'' July 15, 2021: This hearing 
        focused on the increasingly large-scale of natural 
        disasters resulting in catastrophic damage around the 
        United States, that disproportionately impact 
        vulnerable populations.
           ``Ensuring Equitable Delivery of Disaster 
        Benefits to Vulnerable Communities and Peoples: An 
        Examination of GAO's Findings of the CDBG Program,'' 
        January 19, 2022: This hearing focused on the findings 
        of a report issued by the Government Accountability 
        Office entitled, ``Better Data Are Needed to Ensure HUD 
        Block Grant Funds Reach Vulnerable Populations.''
    The Committee considered the following legislation to 
address climate change and green housing:
           H.R. 4155, the ``Green Neighborhoods Act,'' 
        introduced by Representative Perlmutter, would 
        encourage energy efficiency, conservation, and 
        development of renewable energy sources for housing, 
        and to create sustainable communities.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021,'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 4707, the ``Reforming Disaster Recovery 
        Act,'' introduced by Representative Green, would 
        permanently authorize and reform the CDBG Disaster 
        Recovery Program.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 8483, the ``Wildfire Insurance Coverage 
        Study Act of 2022,'' introduced by Chairwoman Waters, 
        would require the Federal Emergency Management Agency 
        (FEMA) and the Government Accountability Office (GAO) 
        to conduct studies assessing the danger that wildfires 
        increasingly pose to communities and how the market for 
        homeowners' insurance is responding to this growing 
        threat.
           H.R. ___, the ``National Flood Program 
        Reauthorization Act of 2021,'' offered by 
        Representative Waters, is a discussion draft to 
        reauthorize the National Flood Insurance Program (NFIP) 
        for five years, enacting a number of reforms to place 
        the NFIP on sound financial footing and make the 
        program more resilient, institute a cap on premium 
        increases of 9% per year, and forgive over $20 billion 
        in NFIP debt.
    Members of the Committee also sent the following letter 
regarding climate change and green housing.
           On September 23, 2022, Chairwoman Maxine 
        Waters and Congresswoman Nydia Velazquez sent a letter 
        to President Biden calling on the administration to 
        remain steadfast in its commitment to equitable 
        disaster recovery by moving quickly to approve every 
        municipality in Puerto Rico for Individual Assistance 
        (IA) through FEMA, which allows impacted families to 
        apply for financial and direct assistance to cover 
        housing and other necessary expenses.
    Disaster Recovery, Resilience, and Sustainable Development. 
The Full Committee held one hearing examining disaster 
recovery, resilience, and sustainable development.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
    The Housing, Community Development, and Insurance 
Subcommittee held two separate hearings examining disaster 
recovery, resilience, and sustainable development.
           ``Built to Last: Examining Housing 
        Resilience in the Face of Climate Change,'' May 4, 
        2021: This hearing focused on the nation's affordable 
        housing being vulnerable to the growing costs of 
        climate and weather disasters. which may accelerate the 
        need for maintenance and repair or render units of 
        housing infrastructure uninhabitable.
           ``State of Emergency: Examining the Impact 
        of Growing Wildfire Risk on the Insurance Market,'' 
        September 22, 2022: This hearing focused on growing 
        risk exposure and a significant spike in insurance loss 
        in recent years, as some insurers have begun to 
        increase rates or exit regions where a large volume of 
        wildfire claims have occurred in recent years.
    The Oversight and Investigations Subcommittee held two 
separate hearings examining disaster recovery, resilience, and 
sustainable development.
           ``CDBG Disaster Recovery: States, Cities, 
        and Denials of Funding,'' July 15, 2021: This hearing 
        focused on the increasingly large-scale of natural 
        disasters resulting in catastrophic damage around the 
        United States, that disproportionately impact 
        vulnerable populations.
           ``Ensuring Equitable Delivery of Disaster 
        Benefits to Vulnerable Communities and Peoples: An 
        Examination of GAO's Findings of the CDBG Program,'' 
        January 19, 2022: This hearing focused on the findings 
        of a report issued by the Government Accountability 
        Office entitled, ``Better Data Are Needed to Ensure HUD 
        Block Grant Funds Reach Vulnerable Populations.''
    The Committee considered the following legislation to 
address disaster recovery, resilience, and sustainable 
development:
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021,'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 4707, the ``Reforming Disaster Recovery 
        Act,'' introduced by Representative Green, would 
        permanently authorize and reform the CDBG Disaster 
        Recovery Program.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 8483, the ``Wildfire Insurance Coverage 
        Study Act of 2022,'' introduced by Chairwoman Waters, 
        would require the Federal Emergency Management Agency 
        (FEMA) and the Government Accountability Office (GAO) 
        to conduct studies assessing the danger that wildfires 
        increasingly pose to communities and how the market for 
        homeowners' insurance is responding to this growing 
        threat.
    Members of the Committee also sent the following letter 
regarding disaster recovery, resilience, and sustainable 
development.
           On September 23, 2022, Chairwoman Maxine 
        Waters and Congresswoman Nydia Velazquez sent a letter 
        to President Biden calling on the administration to 
        remain steadfast in its commitment to equitable 
        disaster recovery by moving quickly to approve every 
        municipality in Puerto Rico for Individual Assistance 
        (IA) through FEMA, which allows impacted families to 
        apply for financial and direct assistance to cover 
        housing and other necessary expenses.
    Fair Housing. The Full Committee held five separate 
hearings examining fair housing and racial inequities.
           ``A Biased, Broken System: Examining 
        Proposals to Overhaul Credit Reporting to Achieve 
        Equity,'' June 29, 2021: This hearing focused on the 
        state of credit reporting in the U.S., including before 
        and after the COVID-19 pandemic, as well as bias and 
        discrimination in the system that contributes to the 
        racial wealth and homeownership gaps.
           ``Housing in America: Oversight of the 
        Federal Housing Finance Agency,'' July 20, 2022: This 
        hearing focused on This hearing focused on the 
        supervision, regulation, and oversight of the 
        government sponsored enterprises (GSEs), which include 
        Fannie Mae and Freddie Mac (the Enterprises), as well 
        as the Federal Home Loan Bank System.
           ``Boom and Bust: Inequality, Homeownership, 
        and the Long-Term Impacts of the Hot Housing Market,'' 
        June 29, 2022: This hearing focused on the state of 
        homeownership since the onset of the COVID-19 pandemic, 
        including significant increases in housing costs, 
        historically low interest rates that began to rise in 
        2022, as well as significant rises in refinance 
        mortgages. This hearing also focused on the wealth, 
        racial, and ethnic disparities within these trends.
           ``Devalued, Denied, and Disrespected: How 
        Home Appraisal Bias and Discrimination Are Hurting 
        Homeowners and Communities of Color,'' March 29, 2022: 
        This hearing focused on home appraisal bias and 
        discrimination that exacerbate the racial and ethnic 
        wealth and homeownership gaps by lowering home values 
        for homeowners of color, locking people of color out of 
        homeownership opportunities, and contributing to 
        historic disinvestment in communities of color.
           ``Justice for All: Achieving Racial Equity 
        Though Fair Access to Housing and Financial Services,'' 
        March 10, 2021: This hearing focused on ensuring 
        mortgage lenders are increasing access for people of 
        color seeking homeownership.
    The Housing, Community Development and Insurance 
Subcommittee held one hearing examining fair housing and racial 
inequities.
           ``Zoned Out: Examining the Impact of 
        Exclusionary Zoning on People, Resources,'' October 15, 
        2021: This hearing focused on the need to promote 
        inclusionary zoning policies to increase the supply of 
        housing, advance equitable housing outcomes, and 
        redress residential segregation.
    The Diversity and Inclusion Subcommittee held two separate 
hearings examining fair housing and racial inequities.
           ``Access Denied: Eliminating Barriers and 
        Increasing Economic Opportunity for Justice-Involved 
        Individuals,'' September 28, 2021: This hearing focused 
        on barriers to housing and financial services for 
        justice-involved individuals, including the prison-to-
        homelessness pipeline.
           ``There's No Pride in Prejudice: Eliminating 
        Barriers to Full Economic Inclusion for the LGBTQ+ 
        Community,'' November 9, 2021: This hearing focused on 
        economic and financial inclusion barriers facing 
        individuals in the LGBTQ+ community, including wealth 
        inequality, challenges in locating safe and affordable 
        housing and employment in the financial sector.
    The Task Force on Artificial Intelligence held one hearing 
examining fair housing and racial inequities.
           ``Equitable Algorithms: How Human-Centered 
        AI Can Address Systemic Racism and Racial Justice in 
        Housing and Financial Services,'' May 7, 2021: This 
        hearing focused on discussing regulatory solutions and 
        best practices for artificial intelligence and machine 
        learning lending models that protect against bias while 
        fostering responsible innovation.
    The Oversight and Investigations Subcommittee held two 
separate hearings examining fair housing and racial inequities.
           ``How Invidious Discrimination Works and 
        Hurts: An Examination of Lending Discrimination and Its 
        Long-term Economic Impacts on Borrowers of Color,'' 
        February 24, 2021: This hearing focused on how 
        borrowers continue to encounter housing and lending 
        discrimination, despite federal protections against 
        such discrimination.
           ``Ensuring Equitable Delivery of Disaster 
        Benefits to Vulnerable Communities and Peoples: An 
        Examination of GAO's Findings of the CDBG Program,'' 
        January 19, 2022: This hearing focused on the findings 
        of a report issued by the Government Accountability 
        Office entitled, ``Better Data Are Needed to Ensure HUD 
        Block Grant Funds Reach Vulnerable Populations.''
    The Committee considered the following legislation to 
address fair housing:
           H.R. 68, the ``Housing Fairness Act of 
        2021,'' introduced by Representative Green, would 
        authorize increased funding for the Department of 
        Housing and Urban Development's (HUD) Fair Housing 
        Initiatives Program (FHIP) and make a number of reforms 
        to FHIP. It would also establish a new competitive 
        grant program at HUD to support comprehensive studies 
        of the causes and effects of ongoing discrimination and 
        segregation, and the implementation of pilot projects 
        to test solutions.
           H.R. 2069, the ``Home Loan Quality 
        Transparency Act of 2021,'' introduced by 
        Representative Velazquez, would reverse the rollback of 
        the Home Mortgage Disclosure Act so that financial 
        institutions provide adequate data on loans to minority 
        borrowers.
           H.R. 2768, the ``American Housing and 
        Economic Mobility Act,'' introduced by Representative 
        Cleaver, would provide grants to (1) state and local 
        governments that remove unnecessary barriers to 
        building affordable units, (2) states to assist 
        borrowers who have negative equity in their homes, (3) 
        state housing finance agencies to construct or acquire 
        affordable rental housing and prevent tenant 
        displacement and harassment, and (4) eligible 
        individuals (generally, lower income individuals who 
        resided in low-income or historically racially 
        segregated areas) to help them purchase their first 
        homes.
           H.R. 3323, the ``Federal Home Loan Banks'' 
        Mission Implementation Act,'' introduced by 
        Representative Torres, would expand the ability for 
        Federal Home Loan Banks (FHLBs) to provide advances and 
        grants for activities related to small businesses, 
        affordable housing, and community development.
           H.R. 4495, the ``Downpayment Toward Equity 
        Act of 2021'' introduced by Chairwoman Waters, 
        Representatives Green, Garcia (TX), Pressley, Axne, and 
        Garcia (IL), would address the U.S. racial wealth and 
        homeownership gaps by providing $100 billion toward 
        downpayment and other financial assistance, including 
        for interest rate buydowns, for first-generation 
        homebuyers to purchase their first home.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021,'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. ___, the ``Fair Appraisal and Inequity 
        Reform (FAIR) Act of 2022,'' offered by Chairwoman 
        Waters, is a discussion draft that would establish a 
        new Federal Appraisal Regulatory Agency, a streamlined 
        federal process for reporting appraisal discrimination 
        and appraiser misconduct complaints, require annual 
        reporting of such complaints to Congress, enhance 
        statutory penalties for appraisal discrimination, among 
        other critical actions to address ongoing systemic and 
        overt discrimination in the home valuation industry.
           H.R. ___, the ``Improving Prudential 
        Standards for Nonbank Mortgage Servicers Act,'' is a 
        discussion draft that would give authority to the FHFA 
        to establish minimum federal standards for the net 
        worth, capital, liquidity, and other prudential 
        standards for non-bank mortgage servicers.
           H.R. ___, the ``Advancing Accountability and 
        Transparency in Federal Home Lending Act,'' is a 
        discussion draft that would amend the Housing and 
        Community Development Act of 1992 to enhance the 
        reporting on minority and women inclusion at FHFA 
        entities.
           H.R. ___, is a discussion draft that would 
        amend the Federal Home Loan Bank Act to require the 
        election committee to consider at least one candidate 
        that represents gender diversity; and one candidate 
        that represents racial and/or ethnic diversity when 
        electing candidates to the board of directors of the 
        bank.
           H.R. ___, is a discussion draft to require 
        FHFA to conduct a review of single-family housing 
        mortgage purchase polices, practices, and products of 
        the Enterprises to identify barriers to supporting 
        mortgage financing for small dollar mortgages with a 
        principal balance at or below $100,000.
           H.R. ___, the ``Preventing Unfair 
        Foreclosures Act,'' is a discussion draft that would 
        codify CFPB's Regulation X rule requiring 120 days of 
        delinquency before the start of a foreclosure, improve 
        written notices during the mortgage servicing process, 
        establish data sharing requirements between CFPB and 
        other federal agencies, and otherwise improve the 
        mortgage servicing process for homeowners.
           H.R. ___, the ``Fair Appraisal and Inequity 
        Reform Act of 2022,'' offered by Chairwoman Waters, is 
        a discussion draft that would establish a new Federal 
        Appraisal Regulatory Agency, a streamlined federal 
        process for reporting appraisal discrimination and 
        appraiser misconduct complaints, require annual 
        reporting of such complaints to Congress, enhance 
        statutory penalties for appraisal discrimination, among 
        other critical actions to address the ongoing systemic 
        and overt discrimination in the home valuation 
        industry.
           H.J. Res. ___, the ``Resolution of 
        Disapproval on HUD's Disparate Impact Rule (85 FR 
        60288),'' is a draft resolution that would nullify 
        HUD's final Disparate Impact Rule (85 FR 60288) under 
        the Fair Housing Act.
           H.J. Res. ___, the ``Resolution of 
        Disapproval on HUD's Preserving Community and 
        Neighborhood Choice Rule (85 FR 47899),'' is a draft 
        resolution that would nullify HUD's final Affirmatively 
        Furthering Fair Housing rule (85 FR 47899) under the 
        Fair Housing Act.
    Members of the Committee also sent the following letter 
regarding fair housing.
           On February 22, 2022, Chairwoman Maxine 
        Waters sent a letter to Marcia Fudge, Secretary of the 
        United States Department of Housing and Urban 
        Development (HUD) as well as the Appraisal 
        Subcommittee, the Appraisal Foundation, and the 
        Appraisal Institute regarding ongoing appraisal bias 
        and discrimination, calling on the federal regulators 
        and the Appraisal Institute to investigate appraiser 
        misconduct and potential illegal discrimination.
    Native American and Native Hawaiian Housing. The Full 
Committee held one hearing examining Native American and Native 
Hawaiian housing needs.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
    The Housing, Community Development and Insurance 
Subcommittee held one hearing examining Native American and 
Native Hawaiian housing needs.
           ``NAHASDA Reauthorization: Addressing 
        Historic Disinvestment and the Ongoing Plight of the 
        Freedmen in Native American Communities,'' July 27, 
        2021: This hearing focused on the severe housing needs 
        of Native Americans and Native Hawaiians. This hearing 
        also is focused on the recognition of the descendants 
        of the Black Native American Freedmen equal to native 
        citizens.
    The Committee considered the following legislation to 
address the housing needs of Native Americans and Native 
Hawaiians:
           H.R. 1719, the Emergency Tribal Housing 
        Assistance Act of 2021,'' introduced by Representative 
        Vargas, would provide additional FY2021 funding for 
        tribal communities to prevent, prepare for, and respond 
        to COVID-19 (i.e., coronavirus disease 2019). 
        Specifically, the bill provides funding for federal 
        housing assistance through the Native American Housing 
        Block Grant, Native Hawaiian Housing Block Grant, and 
        Indian Community Development Block Grant programs.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021,'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 5195, the ``Native American Housing 
        Assistance and Self-Determination Act,'' introduced by 
        Chairwoman Waters, would reauthorize and reform Native 
        American housing programs and ensure equal access to 
        housing and community development resources for the 
        descendants of Black Native American Freedmen.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
    Housing Finance and Access to Homeownership. The Full 
Committee held five separate hearings examining housing finance 
and access to homeownership.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing focused on 
        ensuring mortgage lenders are increasing access for 
        people of color seeking homeownership.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           ``A Strong Foundation: How Housing is the 
        Key to Building Back a Better America,'' October 21, 
        2021: This hearing focused on the need for $150 billion 
        in investments for fair and affordable housing, which 
        was included in the Build Back Better Act.
           ``Monetary Policy and the State of the 
        Economy,'' June 23, 2022: This hearing focused on the 
        housing market as a key driver of inflation.
           ``Boom and Bust: Inequality, Homeownership, 
        and the Long-Term Impacts of the Housing Market,'' June 
        29, 2022: This hearing focused on the state of 
        homeownership since the onset of the COVID-19 pandemic, 
        including significant increases in housing costs, 
        historically low interest rates that began to rise in 
        2022, as well as significant rises in refinance 
        mortgages. This hearing also focused on the wealth, 
        racial, and ethnic disparities within these trends.
    The Diversity and Inclusion Subcommittee held one hearing 
examining housing finance and access to homeownership.
           ``There's No Pride in Prejudice: Eliminating 
        Barriers to Full Economic Inclusion for the LGBTQ+ 
        Community,'' November 9, 2021: This hearing focused on 
        economic and financial inclusion barriers facing 
        individuals in the LGBTQ+ community, including wealth 
        inequality, challenges in locating safe and affordable 
        housing and employment in the financial sector.
    The Taskforce on Artificial Intelligence held one hearing 
examining housing finance and access to homeownership.
           ``Equitable Algorithms: How Human-Centered 
        AI Can Address Systemic Racism and Racial Justice in 
        Housing and Financial Services,'' May 7, 2021: This 
        hearing focused on discussing regulatory solutions and 
        best practices for artificial intelligence and machine 
        learning lending models that protect against bias while 
        fostering responsible innovation.
    The Oversight and Investigations Subcommittee held two 
separate hearings examining housing finance and access to 
homeownership.
           ``How Invidious Discrimination Works and 
        Hurts: An Examination of Lending Discrimination and Its 
        Long-term Economic Impacts on Borrowers of Color,'' 
        February 24, 2021: This hearing focused on how 
        borrowers continue to encounter housing and lending 
        discrimination, despite federal protections against 
        such discrimination.
           ``Where Have All the Houses Gone? Private 
        Equity, Single Family Rentals, and America's 
        Neighborhoods,'' June 28, 2022: This hearing focused on 
        the results of a Committee survey of the five largest 
        owners and operators of single family rental homes in 
        the United States and the effects that their growing 
        role in the housing market has had in limiting the 
        supply of affordable housing, perpetuating barriers to 
        homeownership, and exacerbating the increasing costs of 
        rentership in America.
    The Committee considered the following legislation to 
address housing finance and access to homeownership:
           H.R. 68, the ``Housing Fairness Act of 
        2020,'' introduced by Representative Green, would enact 
        reforms and authorize increased funding for HUD's Fair 
        Housing Initiatives Program and would create a new fair 
        housing research competitive grant program.
           H.R. 123, the ``FHA Additional Credit Pilot 
        Program Reauthorization Act,'' introduced by 
        Representative Green, would authorize a pilot program 
        under Federal Housing Administration that would permit 
        borrowers to opt into utilizing credit scoring models 
        that incorporate additional data not traditionally 
        included in credit scoring systems.
           H.R. 166, the ``Fair Lending for All Act,'' 
        introduced by Representative Green, would clarify the 
        racial and other protections under Equal Credit 
        Opportunity Act to ensure it applies to all people 
        regardless of race, sexual orientation, gender 
        identity, and an applicant's location based on zip code 
        or census tract with respect to credit transactions.
           H.R. 782, the ``Homeownership DREAMers 
        Act,'' introduced by Representative Vargas, would 
        prohibit federal mortgage providers from limiting 
        insurance eligibility on the basis of the mortgagor's 
        participation in the Deferred Action for Childhood 
        Arrivals Program.
           H.R. 816, the ``Restoring Communities Left 
        Behind Act,'' introduced by Representative Kaptur, 
        would establish a new competitive grant program to 
        provide funds to carry out neighborhood revitalization 
        activities.
           H.R. 2069, the ``Home Loan Quality 
        Transparency Act of 2021,'' introduced by 
        Representative Velazquez, would reverse the rollback of 
        the Home Mortgage Disclosure Act so that financial 
        institutions provide adequate data on loans to minority 
        borrowers.
           H.R. 2553 the ``Real Estate Valuation 
        Fairness and Improvement Act of 2021,'' introduced by 
        Representative Cleaver, would establish the Interagency 
        Task Force on Real Estate Valuation to harmonize among 
        specified agencies and entities the underwriting 
        standards that govern residential and commercial real 
        estate valuations. The task force must also study 
        racial disparities in the valuation and price of 
        certain residential real estate. The bill also 
        establishes a grant program for states, nonprofit 
        organizations, and institutions of higher education to 
        promote diversity and inclusion in the appraisal 
        profession.
           H.R. 3008, the ``Homebuyer Assistance Act of 
        2021,'' introduced by Representative Sherman, would 
        modify requirements for appraisers of Federal Housing 
        Administration-insured mortgages. Currently, an 
        appraiser must be certified by certain state or 
        national entities. The bill removes the national 
        entities from the list of approved certification 
        entities and allows an appraiser for a mortgage for 
        single-family housing to be state-licensed rather than 
        state-certified to meet requirements. The bill also 
        provides specified educational requirements for 
        appraisers for mortgages for single-family housing.
           H.R. 3861, the ``Making FHA Work for 
        Borrowers with Student Debt Act,'' introduced by 
        Representative Meeks, would amend the National Housing 
        Act to revise the treatment of student loan debt in the 
        underwriting of FHA loans.
           H.R. 4495, the ``Downpayment Toward Equity 
        Act of 2021,'' introduced by Chairwoman Waters, 
        Representatives Green, Garcia (TX), Pressley, Axne, and 
        Garcia (IL), would address the U.S. racial wealth and 
        homeownership gaps by providing $100 billion toward 
        downpayment and other financial assistance, including 
        for interest rate buydowns, for first-generation 
        homebuyers to purchase their first home.
           H.R. 4497, the ``Housing Is Infrastructure 
        Act of 2021,'' introduced by Chairwoman Waters, would 
        provide a historic investment of over $600 billion in 
        equitable, affordable, and accessible housing 
        infrastructure.
           H.R. 5251, the ``Honoring Military Service 
        in Homebuying Act of 2021,'' introduced by 
        Representative Green, would require the uniform 
        residential loan application to include a military 
        service question.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 8857, the ``GREEN Appraisals Act of 
        2022,'' introduced by Representative Perlmutter, which 
        would provide for accurate energy appraisals in 
        connection with residential mortgage loans, and for 
        other purposes.
           H.R. 8833, the ``Making Communities Stronger 
        through the Community Reinvestment Act,'' introduced by 
        Chairwoman Waters, would revise CRA rules to ensure 
        that bank loans and investments are meaningful and 
        responsive to the needs of low- and moderate-income 
        communities, communities of color, and meeting the 
        local needs of communities where banks have branches 
        and issue most of their loans. Specifically, this bill 
        would encourage banks to tailor their community 
        development services, require banks to regularly meet 
        with stakeholders to discuss current and future CRA 
        obligations where banks have facilities, evaluate the 
        lending activities completed through a nonbank or 
        fintech partner, encourage banks to issue small-dollar 
        mortgages, introduce stronger consequences for bank 
        activities that are discriminatory or violate consumer 
        financial protection laws, and require the Federal 
        financial supervisory agencies to conduct a study 
        identifying ongoing discrimination or racial 
        disparities in access to credit.
           H.R. 8880, ``Multilingual Financial Literacy 
        Act,'' introduced by Representative S. Garcia, which 
        would require the Financial Literacy and Education 
        Commission (FLEC) to carry out a study on the impact of 
        language barriers to financial health and issue a 
        report with recommendations on how to address these 
        barriers to offer better financial inclusion for 
        individuals with limited English proficiency, as well 
        as require FLEC to coordinate and promote efforts of 
        Federal agencies to make financial literacy and 
        education resources available in at least eight of the 
        most commonly spoken languages in the United States.
           H.R. ___, the ``LEP Data Acquisition in 
        Mortgage Lending Act,'' offered by Representative 
        Green, is a discussion draft that would require Fannie 
        Mae and Freddie Mac to include a preferred language 
        question in the Uniform Residential Loan Application.
           H.R. ___, is a discussion draft that would 
        address discrimination in appraisals. This bill would 
        require a review of federal appraisal standards and 
        recommended reforms to prevent disparate impacts on the 
        valuation of homes in communities of color and owned by 
        people of color. The bill would also create a grant 
        program to support a diverse pipeline of professional 
        appraisers.
           H.R. ___, is a discussion draft that would 
        promote language access in mortgage servicing. This 
        bill would require federal housing agencies to put 
        forward requirements for mortgage servicers to identify 
        borrowers who need language assistance.
           H.R. ___, the ``Fair Appraisal and Inequity 
        Reform Act of 2022,'' offered by Chairwoman Waters, is 
        a discussion draft that would establish a new Federal 
        Appraisal Regulatory Agency, a streamlined federal 
        process for reporting appraisal discrimination and 
        appraiser misconduct complaints, require annual 
        reporting of such complaints to Congress, enhance 
        statutory penalties for appraisal discrimination, among 
        other critical actions to address the ongoing systemic 
        and overt discrimination in the home valuation 
        industry.
           H.R. ___, the ``Prevent Unfair Foreclosures 
        Act of 2022,'' is a discussion draft that would provide 
        additional protections for homeowners with the goal of 
        ensuring they can remain in their homes whenever 
        possible, including by codifying CFPB's Regulation X 
        rule requiring 120 days of delinquency before the start 
        of a foreclosure, improving written notices during the 
        mortgage servicing process, improving data collection 
        and reporting, establishing the Office of the Homeowner 
        Advocate at the CFPB, improving language access, and 
        otherwise improving the mortgage servicing process for 
        homeowners.
           H.R. ___, the ``Community Reinvestment 
        Act,'' would subject independent mortgage companies to 
        CRA exams, codify community benefits agreements, 
        specify conditions under which a bank may receive a 
        downgrade and be required to create an improvement 
        plan, and require disclosure of deposits from LMI 
        communities.
           H.R. ___, offered by Representative Garcia 
        (TX), this is a discussion draft that would amend the 
        Truth in Lending Act and the Real Estate Settlement 
        Procedures Act of 1974 to establish preferred language 
        requirements for creditors and servicers, and for other 
        purposes.
    Members of the Committee also sent the following letters 
regarding housing finance and access to homeownership.
           On February 22, 2022, Chairwoman Maxine 
        Waters sent a letter to Marcia Fudge, Secretary of the 
        United States Department of Housing and Urban 
        Development (HUD) as well as the Appraisal 
        Subcommittee, the Appraisal Foundation, and the 
        Appraisal Institute regarding ongoing appraisal bias 
        and discrimination, calling on the federal regulators 
        and the Appraisal Institute to investigate appraiser 
        misconduct and potential illegal discrimination.
           On May 18, 2022, Chairwoman Maxine Waters 
        sent a letter to President Biden urging him to cancel 
        $50,000 in student debt for each borrower without 
        delay, which would provide much needed relief to 
        millions of borrowers--especially Millennial, Gen Z, 
        and borrowers of color--who are unable to realize major 
        life milestones due to the burden of student debt.
           On June 28, 2022, Chairwoman Maxine Waters 
        sent a letter to President Biden's Property Appraisal 
        and Valuation Equity (PAVE) Task Force, co-Chaired by 
        HUD Secretary Fudge and White House Domestic Policy 
        Council Director Susan Rice, asking that the Task Force 
        to move quickly to implement its planned administrative 
        actions and provide the Committee with a clear timeline 
        for implementation of each action.
           On June 29, 2022, Chairwoman Maxine Waters 
        sent a letter to regulators, including HUD Secretary 
        Marcia Fudge, urging them to investigate recent 
        allegations that Wells Fargo denied Black refinancing 
        applicants when interest rates were at their lowest and 
        hosted ``mock'' interviews with diverse candidates to 
        pad diversity numbers.
           On November 4, 2022, Chairwoman Maxine 
        Waters sent a letter to Chair Powell urging him to 
        consider the significant pain that these rate increases 
        may inflict on families across the country and the 
        impact these increases are having on the cost of 
        housing, which remains a key driver of core inflation.
    Federal Housing Finance Agency (FHFA), Federal National 
Mortgage Association (Fannie Mae), Federal Home Loan Mortgage 
Corporation (Freddie Mac), Federal Home Loan Banks (FHLBs). The 
Full Committee held five separate hearings examining the role 
of the Federal Housing Finance Agency (FHFA), Federal National 
Mortgage Association (Fannie Mae), Federal Home Loan Mortgage 
Corporation (Freddie Mac), and Federal Home Loan Banks (FHLBs).
           ``Building Back A Better, More Equitable 
        Housing Infrastructure for America: Oversight of the 
        Department of Housing and Urban Development,'' July 20, 
        2021: This hearing focused on oversight of HUD, 
        including the Federal Housing Administration.
           ``Housing in America: Oversight of the 
        Federal Housing Finance Agency,'' July 20, 2021: This 
        hearing focused on the supervision, regulation, and 
        oversight of the government sponsored enterprises 
        (GSEs), which include Fannie Mae and Freddie Mac (the 
        Enterprises), as well as the Federal Home Loan Bank 
        System.
           ``Devalued, Denied, and Disrespected: How 
        Home Appraisal Bias and Discrimination Are Hurting 
        Homeowners and Communities of Color,'' March 29, 2022: 
        This hearing focused on home appraisal bias and 
        discrimination that exacerbate the racial and ethnic 
        wealth and homeownership gaps by lowering home values 
        for homeowners of color, locking people of color out of 
        homeownership opportunities, and contributing to 
        historic disinvestment in communities of color.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the residential real estate market.
           ``Boom and Bust: Inequality, Homeownership, 
        and the Long-Term Impacts of the Housing Market,'' June 
        29, 2022: This hearing focused on the state of 
        homeownership since the onset of the COVID-19 pandemic, 
        including significant increases in housing costs, 
        historically low interest rates that began to rise in 
        2022, as well as significant rises in refinance 
        mortgages. This hearing also focused on the wealth, 
        racial, and ethnic disparities within these trends.
    The Oversight and Investigations Subcommittee held one 
hearing examining various federal housing finance agencies.
           ``How Invidious Discrimination Works and 
        Hurts: An Examination of Lending Discrimination and Its 
        Long-term Economic Impacts on Borrowers of Color,'' 
        February 24, 2021: This hearing focused on how 
        borrowers continue to encounter housing and lending 
        discrimination, despite federal protections against 
        such discrimination.
    The Committee considered the following legislation to 
address housing finance issues:
           H.R. 166, the ``the Fair Lending for All 
        Act,'' introduced by Representative Green, would detect 
        hidden discrimination, with the Consumer Financial 
        Protection Bureau, an Office of Fair Lending Testing 
        that is charged with testing creditors' compliance with 
        the Equal Credit Opportunity Act. Second, the bill 
        creates criminal penalties under federal law for 
        knowing and willful discrimination by lenders in any 
        credit decision. Penalties for a single violation are 
        up to $50,000 in fines and 1 year in prison. For a 
        pattern or practice violation, the bill authorizes 
        fines up to $100,000 and imprisonment not to exceed 20 
        years. Finally, the measure amends ECOA to prohibit 
        discrimination in credit on the basis of sexual 
        orientation and gender identity as well as zip code.
           H.R. 2069, the ``Home Loan Quality 
        Transparency Act of 2021,'' introduced by 
        Representative Velazquez, would reverse the rollback of 
        the Home Mortgage Disclosure Act so that financial 
        institutions provide adequate data on loans to minority 
        borrowers.
           H.R. 4495, the ``Downpayment Toward Equity 
        Act of 2021,'' introduced by Chairwoman Waters, 
        Representatives Green, Garcia (TX), Pressley, Axne, and 
        Garcia (IL), would address the U.S. racial wealth and 
        homeownership gaps by providing $100 billion toward 
        downpayment and other financial assistance, including 
        for interest rate buydowns, for first-generation 
        homebuyers to purchase their first home.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. 3323, the ``Federal Home Loan Banks'' 
        Mission Implementation Act,'' introduced by 
        Representative Torres, would expand the ability of 
        Federal Home Loan Banks (FHLBs) to provide advances and 
        grants for activities related to small businesses, 
        affordable housing, and community development.
           H.R. 7022, the ``Strengthening Cybersecurity 
        for the Financial Sector Act,'' introduced by 
        Representative Foster, would reauthorize and make 
        permanent authority NCUA had between 1998 and 2002 over 
        credit union third-party vendors. The bill would also 
        provide the Federal Housing Finance Agency with similar 
        authority over third-party vendors of their regulated 
        entities.
           H.R. ___, is a discussion draft that would 
        amend the Federal Home Loan Bank Act to require the 
        election committee to consider at least one candidate 
        that represents gender diversity; and one candidate 
        that represents racial and/or ethnic diversity when 
        electing candidates to the board of directors of the 
        bank.
           H.R. ___, the ``Fair Appraisal and Inequity 
        Reform (FAIR) Act of 2022,'' offered by Chairwoman 
        Waters, is a discussion draft that would establish a 
        new Federal Appraisal Regulatory Agency, a streamlined 
        federal process for reporting appraisal discrimination 
        and appraiser misconduct complaints, require annual 
        reporting of such complaints to Congress, enhance 
        statutory penalties for appraisal discrimination, among 
        other critical actions to address ongoing systemic and 
        overt discrimination in the home valuation industry.
           H.R. ___, is a discussion draft to require 
        FHFA to conduct a review of single-family housing 
        mortgage purchase polices, practices, and products of 
        the Enterprises to identify barriers to supporting 
        mortgage financing for small dollar mortgages with a 
        principal balance at or below $100,000.
           H.R. ___, the ``Improving Prudential 
        Standards for Nonbank Mortgage Servicers Act,'' is a 
        discussion draft that would give authority to the FHFA 
        to establish minimum federal standards for the net 
        worth, capital, liquidity, and other prudential 
        standards for non-bank mortgage servicers.
           H.R. ___, the ``Advancing Accountability and 
        Transparency in Federal Home Lending Act,'' is a 
        discussion draft that amends the Housing and Community 
        Development Act of 1992 to enhance the reporting on 
        minority and women inclusion at FHFA regulated 
        entities.
           H.R. ___, the ``Fair Appraisal and Inequity 
        Reform Act of 2022,'' offered by Chairwoman Waters, 
        which would establish a new Federal Appraisal 
        Regulatory Agency, a streamlined federal process for 
        reporting appraisal discrimination and appraiser 
        misconduct complaints, require annual reporting of such 
        complaints to Congress, enhance statutory penalties for 
        appraisal discrimination, among other critical actions 
        to address ongoing systemic and overt discrimination in 
        the home valuation industry.
           H.R. ___, is a discussion draft to require 
        FHFA to conduct a review of single-family housing 
        mortgage purchase policies, practices, and products of 
        the Enterprises to identify barriers to supporting 
        mortgage financing for small dollar mortgages with a 
        principal balance at or below $100,000.
    Government National Mortgage Association (Ginnie Mae). The 
Full Committee held two separate hearings examining the role of 
Ginnie Mae in the housing market.
           ``Building Back A Better, More Equitable 
        Housing Infrastructure for America: Oversight of the 
        Department of Housing and Urban Development,'' July 20, 
        2021: This hearing focused on oversight of HUD, 
        including issues related to Ginnie Mae's role in 
        securitizing mortgage loans insured by the Federal 
        Housing Administration.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the residential real estate market.
    The Committee considered the following legislation to 
address the role of Ginnie Mae in the housing market:
           H.R.1532, the ``Improving FHA Support for 
        Small-Dollar Mortgages Act of 2021,'' introduced by 
        Representative Tlaib, directs the Department of Housing 
        and Urban Development (HUD) to report on barriers to 
        making FHA single-family mortgage insurance available 
        for mortgages, which are securitized by Ginnie Mae, 
        under $70,000, and to make recommendations to remove 
        such barriers.
    Federal Housing Administration (FHA). The Full Committee 
held three separate hearings examining the Federal Housing 
Administration.
           ``Building Back A Better, More Equitable 
        Housing Infrastructure for America: Oversight of the 
        Department of Housing and Urban Development,'' July 20, 
        2021: This hearing focused on oversight of HUD.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the residential real estate market.
           ``Boom and Bust: Inequality, Homeownership, 
        and the Long-Term Impacts of the Hot Housing Market,'' 
        June 29, 2022: This hearing focused on the state of 
        homeownership since the onset of the COVID-19 pandemic, 
        including significant increases in housing costs, 
        historically low interest rates that began to rise in 
        2022, as well as significant rises in refinance 
        mortgages. This hearing also focused on the wealth, 
        racial, and ethnic disparities within these trends.
    The Committee considered the following legislation to 
address the Federal Housing Administration:
           H.R. 123, the ``Alternative Data for 
        Additional Credit FHA Pilot Program Reauthorization 
        Act,'' introduced by Representative Green, would 
        establish a pilot program for an additional credit 
        rating system for use by mortgage lenders. 
        Specifically, the program utilizes one or more 
        commercially available credit scoring models that apply 
        additional credit information about borrowers who have 
        insufficient credit histories for purposes of 
        determining their creditworthiness for mortgages 
        insured by the Federal Housing Administration.
           H.R.1532, the ``Improving FHA Support for 
        Small-Dollar Mortgages Act of 2021,'' introduced by 
        Representative Tlaib, directs the Department of Housing 
        and Urban Development (HUD) to report on barriers to 
        making FHA single-family mortgage insurance available 
        for mortgages, which are securitized by Ginnie Mae, 
        under $70,000, and to make recommendations to remove 
        such barriers.
           H.R. 2069, the ``Home Loan Quality 
        Transparency Act of 2021,'' introduced by 
        Representative Velazquez, would reverse the rollback of 
        the Home Mortgage Disclosure Act so that financial 
        institutions provide adequate data on loans to minority 
        borrowers.
           H.R. 3861, the ``Making FHA Work for 
        Borrowers with Student Debt Act of 2021,'' introduced 
        by Representative Meeks, would require he Federal 
        Housing Administration (FHA) to modify its treatment of 
        student loan debt for purposes of determining 
        eligibility for federally insured mortgages for single-
        family homes. Specifically, the FHA must calculate a 
        borrower's student loan debt obligation as the monthly 
        payment required in connection with the loan or, if no 
        monthly payment is required, 0.5% of the outstanding 
        balance of the loan. Currently, the FHA calculates a 
        borrower's student loan debt obligation as 1% of the 
        outstanding balance of the loan.
           H.R. 4495, the ``Downpayment Toward Equity 
        Act of 2021,'' introduced by Chairwoman Waters, 
        Representatives Green, Garcia (TX), Pressley, Axne, and 
        Garcia (IL), would address the U.S. racial wealth and 
        homeownership gaps by providing $100 billion toward 
        downpayment and other financial assistance, including 
        for interest rate buydowns, for first-generation 
        homebuyers to purchase their first home.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. ___, the ``Preventing Unfair 
        Foreclosures Act,'' is a discussion draft that would 
        codify CFPB's Regulation X rule requiring 120 days of 
        delinquency before the start of a foreclosure, improve 
        written notices during the mortgage servicing process, 
        establish data sharing requirements between CFPB and 
        other federal agencies, and otherwise improve the 
        mortgage servicing process for homeowners.
           H.R. ___, the ``Federal Financing Bank Risk-
        Sharing Act of 2021,'' offered by Representative 
        Velazquez, is a discussion draft that would require the 
        continuation of the FHA affordable rental housing 
        financing partnership with the Federal Financing Bank, 
        and for other purposes.
    Members of the Committee also sent the following letter 
regarding the Federal Housing Administration:
           On February 22, 2022, Chairwoman Maxine 
        Waters sent a letter to Marcia Fudge, Secretary of the 
        United States Department of Housing and Urban 
        Development (HUD) as well as the Appraisal 
        Subcommittee, the Appraisal Foundation, and the 
        Appraisal Institute regarding ongoing appraisal bias 
        and discrimination, calling on the federal regulators 
        and the Appraisal Institute to investigate appraiser 
        misconduct and potential illegal discrimination.
    Private Mortgage Insurance (PMI). The Full Committee held 
three separate hearings examining private mortgage insurance.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the residential real estate market.
           ``Boom and Bust: Inequality, Homeownership, 
        and the Long-Term Impacts of the Hot Housing Market,'' 
        June 29, 2022: This hearing focused on the state of 
        homeownership since the onset of the COVID-19 pandemic, 
        including significant increases in housing costs, 
        historically low interest rates that began to rise in 
        2022, as well as significant rises in refinance 
        mortgages. This hearing also focused on the wealth, 
        racial, and ethnic disparities within these trends.
           ``Housing in America: Oversight of the 
        Federal Housing Finance Agency,'' July 20, 2022: This 
        hearing focused on the oversight of the Federal Housing 
        Finance Agency, including the disparate impact of 
        guarantee fees on borrowers, as well as their effect on 
        the PMI industry.
    The Committee considered the following legislation to 
address private mortgage insurance:
           H.R. 4495, the ``Downpayment Toward Equity 
        Act of 2021,'' introduced by Chairwoman Waters,
    Representatives Green, Garcia (TX), Pressley, Axne, and 
Garcia (IL), would address the U.S. racial wealth and 
homeownership gaps by providing $100 billion toward downpayment 
and other financial assistance, including for interest rate 
buydowns, for first-generation homebuyers to purchase their 
first home.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. These 
        funds will expand the supply of fair and affordable 
        housing; help end homelessness; lower housing costs; 
        build, upgrade, and retrofit affordable housing units; 
        and help close the racial wealth gap through the first-
        ever national investments in homeownership for first-
        time, first-generation homebuyers.
           H.R. ___, the ``Preventing Unfair 
        Foreclosures Act,'' is a discussion draft that would 
        codify CFPB's Regulation X rule requiring 120 days of 
        delinquency before the start of a foreclosure, improve 
        written notices during the mortgage servicing process, 
        establish data sharing requirements between CFPB and 
        other federal agencies, and otherwise improve the 
        mortgage servicing process for homeowners.
    Mortgage Servicing. The Full Committee held five separate 
hearings examining mortgage servicing.
           ``Building Back A Better, More Equitable 
        Housing Infrastructure for America: Oversight of the 
        Department of Housing and Urban Development,'' July 20, 
        2021: This hearing focused on oversight of HUD.
           ``Consumers First: Semi-Annual report of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rulemaking 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the residential real estate market.
           ``Boom and Bust: Inequality, Homeownership, 
        and the Long-Term Impacts of the Hot Housing Market,'' 
        June 29, 2022: This hearing focused on the state of 
        homeownership since the onset of the COVID-19 pandemic, 
        including significant increases in housing costs, 
        historically low interest rates that began to rise in 
        2022, as well as significant rises in refinance 
        mortgages. This hearing also focused on the wealth, 
        racial, and ethnic disparities within these trends.
           ``Housing in America: Oversight of the 
        Federal Housing Finance Agency,'' July 20, 2022: This 
        hearing focused on the supervision, regulation, and 
        oversight of the government sponsored enterprises 
        (GSEs), which include Fannie Mae and Freddie Mac (the 
        Enterprises), as well as the Federal Home Loan Bank 
        System.
    The Consumer Protection and Financial Institutions 
Subcommittee held one hearing examining mortgage servicing.
           ``Slipping Through the Cracks: Policy 
        Options to Help America's Consumer During the 
        Pandemic,'' March 11, 2021: This hearing focused on the 
        gaps in consumer protections during the pandemic and 
        evaluated possible policy responses to ensure the 
        stability of all consumers and small business owners 
        and could share in economic recovery. This hearing also 
        focused on existing racial and economic disparities 
        that have been dangerously exacerbated by the pandemic.
    The Committee considered the following legislation to 
address mortgage servicing:
           H.R. 2069, the ``Home Loan Quality 
        Transparency Act,'' introduced by Representative 
        Velazquez, would expand requirements for public 
        disclosures by depository institutions regarding 
        mortgages and home equity lines of credit. 
        Specifically, institutions with more than $30 million 
        in total assets that originate fewer than 500 mortgage 
        loans or open-end lines of credit annually would no 
        longer be exempt from certain enhanced HMDA reporting, 
        as required by the Dodd-Frank Act.
           H.R. 5013, the ``Affordable Homeownership 
        Access Act,'' introduced by Representative Gonzalez, 
        would exempt certain mortgage licensing and 
        registration requirements a person (other than a 
        depository institution) who engages in owner financing. 
        Owner financers (1) originate a limited number of 
        residential mortgage loans in a year, and (2) only 
        originate residential mortgages with respect to 
        property owned by the owner financer.
           H.R. ___, the ``Preventing Unfair 
        Foreclosures Act,'' is a discussion draft that would 
        codify CFPB's Regulation X rule requiring 120 days of 
        delinquency before the start of a foreclosure, improve 
        written notices during the mortgage servicing process, 
        establish data sharing requirements between CFPB and 
        other federal agencies, and otherwise improve the 
        mortgage servicing process for homeowners.
           H.R. ___, the ``Preventing Foreclosures on 
        Seniors Act,'' is a discussion draft that would revise 
        the FHA program for home equity conversion mortgages to 
        add safeguards to present the displacement of elderly 
        homeowners and their spouses.

                               Insurance

    National Flood Insurance Program (NFIP). The Housing, 
Community Development and Insurance Subcommittee held one 
hearing examining the NFIP.
           ``Reauthorization and Reform of the National 
        Flood Insurance Program,'' May 25, 2022: This hearing 
        focused on the need to reform NFIP to ensure low-income 
        families are paying equitable rates.
    The Committee considered the following legislation to 
address the NFIP:
           H.R. 4088, the ``IMAGES Act of 2021,'' 
        introduced by Representative Gonzalez, would provide 
        improvements to National Flood Insurance Program rate 
        maps, and for other purposes.
           H.R. 5376, the ``Build Back Better Act,'' 
        introduced by Representative Yarmuth, would provide 
        more than $150 billion in fair and affordable housing 
        investments, representing the single largest investment 
        in affordable housing in our nation's history. This 
        bill also includes funding for NFIP debt forgiveness 
        and investments to modernize and improve flood mapping.
           H.R. 7482, the ``Protecting Families and the 
        Solvency of the National Flood Insurance Program Act of 
        2022,'' introduced by Representative Casten, would 
        authorize FEMA to provide additional mitigation 
        assistance to families affected by flooding and seek to 
        expedite the buyout process for homeowners in 
        communities facing repetitive losses.
           H.R. ___, the ``National Flood Insurance 
        Program Authorization Act of 2022,'' offered by 
        Chairwoman Waters, is a discussion draft would 
        reauthorize the NFIP through September 30, 2027 and 
        make additional reforms intended to strengthen the NFIP 
        in the long term, including the establishment of a 
        pilot program to assist policyholders with 
        affordability, a section making improvements to the 
        Community Rating System (CRS) by requiring that credits 
        be issued to the maximum number of communities 
        practicable, a section authorizing a community 
        assistance program for floodplain management, as well 
        as other reforms.
           H.R. ___, the ``National Flood Insurance 
        Program Administrative Reform Act of 2022,'' offered by 
        Representative Velazquez, is a discussion draft 
        instructs FEMA to reform its appeals process for 
        policyholders to receive compensation for flood 
        policies after storm damage.
           H.R. ___, offered by Chairwoman Waters, is a 
        discussion draft forgiving the NFIP's $20.5 billion in 
        debt.
           H.R. ___, is a discussion draft that would 
        institute a 9 percent annual cap on NFIP premium rate 
        increases.
    Federal Insurance Office (FIO). The Full Committee held one 
hearing examining FIO and insurance-related issues.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the insurance sector.
    The Housing, Community Development and Insurance 
Subcommittee held one hearing examining FIO and insurance-
related issues.
           ``State of Emergency: Examining the Impact 
        of Growing Wildfire Risk on the Insurance Market,'' 
        September 22, 2022: This hearing focused on growing 
        risk exposure and a significant spike in insurance loss 
        in recent years, as some insurers have begun to 
        increase rates or exit regions where a large volume of 
        wildfire claims have occurred in recent years.
    The Diversity and Inclusion Subcommittee held one hearing 
examining FIO and insurance-related issues.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on findings from the 
        Committee's report examining the diversity and 
        inclusion practices and policies of the largest 
        property and casualty and life insurance companies.
    The Committee considered the following legislation to 
address the operations and purpose of the FIO:
           H.R. 8483, the ``Wildfire Insurance Coverage 
        Study Act of 2022,'' introduced by Chairwoman Waters, 
        would require the Federal Emergency Management Agency 
        (FEMA) and the Government Accountability Office (GAO) 
        to conduct studies assessing the danger that wildfires 
        increasingly pose to communities and how the market for 
        homeowners' insurance is responding to this growing 
        threat.
           H.R. ___, the ``Minority and Women Inclusion 
        in Insurance Act,'' is a discussion draft that would 
        require the Director of the FIO to conduct an annual 
        survey of insurers to determine the extent of diversity 
        in the insurance industry.
           H.R. ___, the ``Diversify Insurers Workforce 
        Study Act of 2022,'' is a discussion draft that would 
        require the Director of the FIO to conduct a study 
        regarding recruitment, retention, and attrition of 
        employees in the insurance industry.
    The Committee continued to monitor developments on Cyber 
Security throughout the 116th Congress and held meetings with 
interested parties
    Climate Risk. The Full Committee held one hearing examining 
climate risk.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability due 
        to climate-related risk.
    The Housing, Community Development, and Insurance 
Subcommittee held two separate hearings examining climate risk 
in the insurance sector.
           ``Reauthorization and Reform of the National 
        Flood Insurance Program,'' May 25, 2022. This hearing 
        focused on the need to reform NFIP to ensure low-income 
        families are paying equitable insurance rates.
           ``State of Emergency: Examining the Impact 
        of Growing Wildfire Risk on the Insurance Market,'' 
        September 22, 2022: This hearing focused on growing 
        risk exposure and a significant spike in insurance loss 
        in recent years, as some insurers have begun to 
        increase rates or exit regions where a large volume of 
        wildfire claims have occurred in recent years.
    The Committee considered the following legislation to 
address climate risk in the insurance sector:
           H.R. 7482, the ``Protecting Families and the 
        Solvency of the National Flood Insurance Program Act of 
        2022,'' introduced by Representative Casten, would 
        authorize FEMA to provide additional mitigation 
        assistance to families affected by flooding and seek to 
        expedite the buyout process for homeowners in 
        communities facing repetitive losses.
           H.R. 8483, the ``Wildfire Insurance Coverage 
        Study Act of 2022,'' introduced by Chairwoman Waters, 
        would require the Federal Emergency Management Agency 
        (FEMA) and the Government Accountability Office (GAO) 
        to conduct studies assessing the danger that wildfires 
        increasingly pose to communities and how the market for 
        homeowners' insurance is responding to this growing 
        threat.
           H.R. ___, the ``National Flood Insurance 
        Program Authorization Act of 2022,'' offered by 
        Chairwoman Waters, is a discussion draft that would 
        reauthorize the NFIP through September 30, 2027 and 
        make additional reforms intended to strengthen the NFIP 
        in the long term, including the establishment of a 
        pilot program to assist policyholders with 
        affordability, a section making improvements to the 
        Community Rating System (CRS) by requiring that credits 
        be issued to the maximum number of communities 
        practicable, a section authorizing a community 
        assistance program for floodplain management, as well 
        as other reforms.
           H.R. ___, the ``National Flood Insurance 
        Program Administrative Reform Act of 2022,'' offered by 
        Representative Velazquez, is a discussion draft that 
        would instruct FEMA to reform its appeals process for 
        policyholders to receive compensation for flood 
        policies after storm damage.
           H.R. ___, offered by Chairwoman Waters, is a 
        discussion draft that would forgive the NFIP's $20.5 
        billion in debt.
           H.R. ___, is a discussion draft that would 
        institute a 9 percent annual cap on NFIP premium rate 
        increases.
    Terrorism Risk Insurance Program. The Full Committee held 
one hearing examining the Terrorism Risk Insurance Program.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the residential real estate market. ``The Annual Report 
        of the Financial Stability Oversight Council,'' May 12, 
        2022: the hearing considered FSOC's recent annual 
        report.
    Business Interruption Insurance. The Full Committee held 
one hearing examining business interruption insurance.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the insurance and business sectors.
    Insurance Sector Supervision. The Full Committee held one 
hearing examining the insurance sector.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the insurance sector.
    The Housing, Community Development, and Insurance 
Subcommittee held two separate hearings separate hearings 
examining insurance sector supervision.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on findings from the 
        Committee's report examining the diversity and 
        inclusion practices and policies of the largest 
        property and casualty and life insurance companies.
           ``State of Emergency: Examining the Impact 
        of Growing Wildfire Risk on the Insurance Market,'' 
        September 22, 2022: This hearing focused on growing 
        risk exposure and a significant spike in insurance loss 
        in recent years, as some insurers have begun to 
        increase rates or exit regions where a large volume of 
        wildfire claims have occurred in recent years.
    The Investor Protection, Entrepreneurship and Capital 
Markets Subcommittee held one hearing which examined insurance 
sector supervision in part:
           ``A Notch Above? Examining the Bond Rating 
        Industry,'' May 11, 2022: This hearing focused in part 
        on how Nationally Recognized Statistical Ratings 
        Organizations (NRSROs) like S&P provide ratings for 
        insurance companies.
    The Committee considered the following legislation to 
address insurance sector supervision:
           H.R. 1277, the ``Improving Corporate 
        Governance Through Diversity Act of 2021,'' introduced 
        by Representative Meeks, would require public companies 
        including insurance companies to annually disclose the 
        voluntarily, self-identified gender, race, ethnicity 
        and veteran status of their board directors, nominees, 
        and senior executive officers. Among other 
        requirements, the SEC OMWI would publish best practices 
        for compliance with diversity disclosures.
           H.R. 2123, the ``Diversity and Inclusion 
        Data Accountability and Transparency Act (D&I DATA 
        Act),'' introduced by Representative Beatty, would make 
        reporting requirements under Section 342 of the Dodd-
        Frank Wall Street Reform and Consumer Protection Act of 
        2010 mandatory. Under the legislation, regulated 
        entities, including insurance companies would be 
        required to disclose their diversity data, policies, 
        and practices to their respective regulators.
           H.R. 8483, the ``Wildfire Insurance Coverage 
        Study Act of 2022,'' introduced by Chairwoman Waters, 
        would require the Federal Emergency Management Agency 
        (FEMA) and the Government Accountability Office (GAO) 
        to conduct studies assessing the danger that wildfires 
        increasingly pose to communities and how the market for 
        homeowners' insurance is responding to this growing 
        threat.
           H.R. ___, ``Minority and Women Inclusion in 
        Insurance Act,'' is a discussion draft that would 
        require the Federal Insurance Office to annually ask 
        insurers about their supplier and workforce diversity 
        performance and to publish this data in conjunction 
        with the OMWI, and in partnership with State 
        regulators.
           H.R. ___, the ``Diversify Insurers'' 
        Workforce Study Act,'' is a discussion draft that would 
        require the Federal Insurance Office complete a study 
        exploring rates of attrition and retention within the 
        insurance industry. The study will also include best 
        practices for reducing attrition and improving 
        retention and promotion.
           H.R. ___, the ``Notching Prohibition Act,'' 
        is a discussion draft that would prohibit the practice 
        of notching by SEC registered NRSROs, which provide the 
        credit rating for insurance companies. Notching is when 
        an NRSRO refuses to rate securities issued by an asset 
        pool or as part of any asset-backed or mortgage-backed 
        transaction because it has not rated all the underlying 
        portfolio assets.
           H.R. ___, the ``Commercial Credit Rating 
        Reform Act,'' introduced by Representative Sherman, is 
        a discussion draft that would require the establishment 
        of a credit rating agency assignment board within the 
        jurisdiction of the SEC, which would be responsible for 
        assigning NRSROs to provide ratings for corporate 
        issuers and issuers of new asset-backed securities.
           H.R. ___, the ``Credit Rating Liability 
        Act,'' is a discussion draft that would impose 
        liability on NRSROs which commit gross negligence in 
        issuing a credit rating which it consents to being 
        referred to in an SEC registration statement.
           H.R. ___, the ``Credit Rating 
        Standardization Act,'' is a discussion draft that would 
        direct the SEC to issue rules to require all NRSROs to 
        use a uniform set of credit ratings for each of the six 
        categories of credit ratings recognized under the 
        Securities and Exchange Act.
    Members of the Committee also sent the following letters 
regarding Insurance Sector Supervision.
           On March 23, 2022, Chairwoman Maxine Waters 
        sent letters to 27 of the largest property, casualty 
        and life insurance companies that receive $7 billion in 
        direct premiums or more each year, requesting diversity 
        and inclusion data to examine America's insurance 
        industry.
    International Insurance Developments. The Full Committee 
held one hearing examining international insurance 
developments.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including potential threats to financial stability in 
        the insurance sector.
    Cyber Insurance. The Full Committee held one hearing 
examining cyber insurance.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including risks posed with respect to cybersecurity.
    The Housing, Community Development, and Insurance 
Subcommittee held one hearing examining cyber insurance.
           ``Cyber Threats, Consumer Data, and the 
        Financial System,'' November 3, 2021: This hearing 
        focused on examining cybersecurity and consumer data 
        protection challenges for financial institutions, 
        including the shared role of federal regulators and 
        state insurance commissioners in the enforcement of 
        Regulation P under the Dodd-Frank Act.
    The Committee considered the following legislation to 
address cyber insurance:
           H.R. 7022, the ``Strengthening Cybersecurity 
        for the Financial Sector Act,'' introduced by 
        Representative Foster, would reauthorize and make 
        permanent authority NCUA had between 1998 and 2002 over 
        credit union third-party vendors. The bill would also 
        provide the Federal Housing Finance Agency with similar 
        authority over third-party vendors of their regulated 
        entities.
    Auto Insurance. Members of the Committee sent the following 
letter regarding auto insurance.
           On March 23, 2022, Chairwoman Maxine Waters 
        sent letters to 27 of the largest property, casualty 
        and life insurance companies that receive $7 billion in 
        direct premiums or more each year, requesting diversity 
        and inclusion data to examine America's insurance 
        industry.

             Consumer Protection and Financial Institutions

    Protecting Consumers and Consumer Financial Protection 
Bureau. The Full Committee held seven hearings examining the 
problems consumers face in the financial marketplace, as well 
as the CFPB's budget, mission, adopted rules, fair lending 
enforcement and supervision of regulated entities, research, 
and diversity and inclusion efforts.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing examined 
        racial inequities with respect to consumer and other 
        types of financial products and services, and policy 
        solutions to promote equity.
           ``Holding Megabanks Accountable: An Update 
        on Banking Practices, Programs and Policies,'' May 27, 
        2021: This hearing examined the practices, programs and 
        policies of the largest U.S. banks, including how they 
        treated consumers during the COVID-19 pandemic.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Consumer Protection and Financial Institutions 
Subcommittee held six hearings examining consumer protection 
issues in banking, lending and financial services.
           ``Slipping Through the Cracks: Policy 
        Options to Help America's Consumers During the 
        Pandemic,'' March 11, 2021: This hearing focused on the 
        gaps in consumer protections during the pandemic and 
        evaluate possible policy responses to ensure all 
        consumers and small business owners can get through 
        this period of uncertainty and share in the economic 
        recovery.
           ``Banking the Unbanked: Exploring Private 
        and Public Efforts to Expand Access to the Financial 
        System,'' July 21, 2021: This hearing focused on 
        examining trends in unbanked and underbanked 
        households, challenges to improve access to mainstream 
        financial services, and current initiatives and 
        proposals to better expand the availability of safe and 
        affordable banking and financial services for all 
        people and in every community.
           ``The Future of Banking: How Consolidation, 
        Nonbank Competition, and Technology are Reshaping the 
        Banking System,'' September 29, 2021: This hearing 
        focused on examining evolving trends in the banking 
        system and their impact on consumers, small businesses, 
        communities of color, bank employees.
           ``Cyber Threats, Consumer Data, and the 
        Financial System,'' November 3, 2021: This hearing 
        focused on examining cybersecurity and consumer data 
        protection challenges for financial institutions.
           ``The End of Overdraft Fees? Examining the 
        Movement to Eliminate the Fees Costing Consumers 
        Billions,'' March 31, 2022: This hearing focused on 
        examining the impacts of overdraft fees on consumers 
        and recent changes by financial institutions to reduce 
        or eliminate overdraft fees.
           ``Better Together: Examining the Unified 
        Proposed Rule to Modernize the Community Reinvestment 
        Act,'' July 13, 2022: This hearing focused on examining 
        the joint proposal by prudential regulators to 
        strengthen and modernize Community Reinvestment Act 
        rules.
    The Committee considered the following legislation to 
strengthen borrower protections, including with respect to 
lending, credit reporting and debt collection protections for 
consumers and small businesses:
           H.R. 2069, the'' Home Loan Quality 
        Transparency Act'', introduced by Representative 
        Velazquez, which would expand public disclosure 
        requirements for depository institutions regarding 
        mortgages and home equity lines of credit, and end 
        exemption of certain institutions that originate fewer 
        than 500 mortgage loans or open-end lines of credit 
        annually from certain enhanced reporting under HMDA.
           H.R. 2123, the ``Diversity and Inclusion 
        Data Accountability and Transparency Act'', introduced 
        by Representative Beatty, which would require regulated 
        entities to provide information necessary for the 
        Offices of Minority and Women Inclusion (OMWI), 
        including that of the CFPB, to carry out their duties.
           H.R. 4120, the ``Comprehensive Consumer 
        Credit Reporting Reform Act'' introduced by 
        Representative Pressley, which would ensure greater 
        accuracy on consumer credit reports, increase 
        consumers' rights to report and appeal credit report 
        disputes, help consumers struggling with debt and 
        predatory loans, and create stronger CFPB oversight 
        credit scoring models.
           H.R. 4277, the ``Overdraft Protection Act of 
        2021 '' introduced by Representative Maloney, which 
        would strengthen protections for consumers with respect 
        to overdraft fees, including by limiting the number of 
        overdraft fees a bank may charge on a monthly and 
        annual basis, prevent re-ordering transactions, and 
        require financial institutions to offer consumers the 
        opportunity to opt-in to overdraft coverage.
           H.R. 5484, the ``Financial Compensation for 
        CFPB Whistleblowers Act'' introduced by Representative 
        Green, which would establish a whistleblower program 
        incentivizing the reporting of consumer fraud and abuse 
        to the CFPB, while protecting the confidentiality of 
        the whistleblower's identity.
           H.R. 5332, the ``Protecting Your Credit 
        Score Act'' introduced by Representative Gottheimer, 
        which would require the three largest CRAs, Equifax, 
        Experian, and Transunion, to establish an online 
        consumer portal giving consumers free and unlimited 
        access to their consumer reports and credit scores, as 
        well as provide consumers with the ability to initiate 
        disputes and to place or remove a security freeze.
           H.R. 5974, the ``Veterans and Consumers Fair 
        Credit Act'', introduced by Representative C. Garcia, 
        which would extend the 36% interest rate cap required 
        under the Military Lending Act to all consumer loans.
           H.R. 6045, the ``Small Business Lending 
        Disclosure Act'' introduced by Representative 
        Velazquez, which would require small business loans to 
        be covered by the Truth In Lending Act.
           H.R. 6814, the ``Small Business Fair Debt 
        Collection Protection Act'', introduced by 
        Representative Lawson, which would extend the Fair Debt 
        Collection Practices Act (FDCPA), which currently 
        protects consumers from certain predatory debt 
        collection practices, to cover small business 
        borrowers.
           H.R. 7351, the ``Promoting Fair Lending to 
        Small Businesses Act'', introduced by Representative 
        Velazquez, which would clarify that the CFPB has 
        supervisory and fair lending enforcement authority of 
        non-depository lenders to small businesses that collect 
        and report data pursuant to Section 1071 of the Dodd-
        Frank Act.
           H.R. 8478, the ``Credit Reporting Accuracy 
        After a Legal Name Change Act'', introduced by 
        Representative Pressley, which would prohibit the 
        nationwide credit reporting agencies from including a 
        transgender consumer's former name on their credit 
        report, following a legal name change.
           H.R. 8485, the ``Expanding Access to Credit 
        through Consumer-Permissioned Data Act'', introduced by 
        Representative Williams, which would require lenders to 
        consider additional credit information not typically 
        included on a consumer's credit report, in the 
        evaluation of a borrower for a mortgage, upon the 
        request of a consumer.
           H.R. ___, the ``Preventing Unfair 
        Foreclosures Act'', which would codify CFPB's 
        Regulation X rule requiring 120 days of delinquency 
        before the start of a foreclosure, improve written 
        notices during the mortgage servicing process, 
        establish data sharing requirements between CFPB and 
        other federal agencies, and otherwise improve the 
        mortgage servicing process for homeowners.
           H.R. ___, the ``Private Student Loan Parity 
        Act'', which would clarify and explicitly codify that 
        the definition of private student loans covered by the 
        Truth In Lending Act includes Income Share Agreements, 
        while expanding the definition to encompass other forms 
        of credit extended to students pursuing a postsecondary 
        education, including coding bootcamps and other 
        unaccredited educational programs.
    Members of the Committee also sent the following letters 
regarding CFPB's authority to escalate penalties against large 
financial institutions and firms that repeatedly harm 
consumers.
           On June 29, 2022, Chairwoman Maxine Waters 
        sent a letter to CFPB, HUD and the prudential banking 
        regulators urging them to utilize the significant tools 
        Congress gave them to escalate penalties against Wells 
        Fargo in a way that is reflective of its history of 
        repeat offenses.
           On August 9, 2022, Chairwoman Maxine Waters 
        sent a letter to CFPB Director Rohit Chopra urging him 
        to use the full extent of his authority to hold Equifax 
        and its leadership accountable for providing inaccurate 
        credit scores on potentially thousands of consumers to 
        numerous financial institutions relating to their 
        credit applications.
    Student Debt Crisis. The Full Committee held four separate 
hearings examining student loans and problems consumers 
experience managing student debt.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing examined 
        racial inequities with respect to student loans and 
        other types of financial products and services, and 
        policy solutions to promote equity.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Subcommittee on Investor Protection, Entrepreneurship 
and Capital Markets held one hearing examining how student 
loans, among other kinds of loans, are affected by the 
marketplace shift away from using LIBOR.
           ``The End of LIBOR: Transitioning to an 
        Alternative Interest Rate Calculation for Mortgages, 
        Student Loans, Business Borrowing, and Other Financial 
        Products,'' April 15, 2021: This hearing exploring the 
        marketplace transition away from LIBOR to alternative 
        interest rate calculations for student loans and other 
        financial products.
    The Committee considered the following legislation to 
address student debt:
           H.R. 2498, the ``Private Loan Disability 
        Discharge Act,'' introduced by Representative Madeleine 
        Dean, which would direct the holder of a private 
        education loan to discharge the loan in the event of 
        the borrower's death or total and permanent disability.
           H.R. 3861, Making FHA Work for Borrowers 
        with Student Debt Act (Meeks). This bill would amend 
        the National Housing Act to revise the treatment of 
        student loan debt in the underwriting of FHA loans.
           H.R. 4616, the Adjustable Interest Rate 
        (LIBOR) Act of 2021 (Sherman), would provide for the 
        transition of certain financial contracts away from the 
        London Interbank Offered Rate (LIBOR), a reference 
        interest rate based upon the lending terms certain 
        banks offer to each other for various lengths of time. 
        LIBOR is set to be retired in 2023. Various financial 
        contracts reference LIBOR as a benchmark for prevailing 
        interest rates and use LIBOR in calculating certain 
        payments or obligations.
           H.R. ___, Private Student Loan Parity Act, 
        which would clarify and explicitly codify that the 
        definition of private student loans covered by the 
        Truth In Lending Act includes Income Share Agreements, 
        while expanding the definition to encompass other forms 
        of credit extended to students pursuing a postsecondary 
        education, including coding bootcamps and other 
        unaccredited educational programs.
    Members of the Committee also sent the following letter 
regarding student loan debt.
           On December 4, 2020, Chairwoman Maxine 
        Waters sent a letter to then President-Elect Joseph R. 
        Biden, providing a variety of policy recommendations, 
        including to forgive up to $50,000 of debt for each 
        federal student loan borrower and pause all student 
        loan payments and interest accrual until the economy 
        can recover.
    Consumer Protections for Military Servicemembers. The Full 
Committee held three separate hearings examining consumer 
protections for military servicemembers.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Subcommittee on Consumer Protection and Financial 
Institutions held one hearing examining ways to strengthen 
consumer protections for servicemembers and veterans.
           ``Slipping Through the Cracks: Policy 
        Options to Help America's Consumer During the 
        Pandemic,'' March 11, 2021: This hearing focused on a 
        variety of consumer protection issues, including 
        exploring ways to enhance debt collection practices 
        with respect to servicemembers.
    The Committee considered the following legislation to 
strengthen consumer protections for servicemembers and 
veterans:
           H.R. 1491, the ``Fair Debt Collection 
        Practices for Servicemembers Act,'' introduced by 
        Representative Madeleine Dean, which would prohibit a 
        debt collector from representing to service members 
        that failure to cooperate with a debt collector will 
        result in a reduction of rank, a revocation of security 
        clearance, or military prosecution.
           H.R. 5974, the ``Veterans and Consumers Fair 
        Credit Act,'' introduced by Representative C. Garcia, 
        which would extend the 36% interest rate cap that 
        covers servicemembers under the Military Lending Act 
        and applies it to veterans and all other consumers.
    High Cost Short-Term Credit and Debt Collection. The Full 
Committee held four hearing examining high cost short-term 
credit and debt collection:
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing examined 
        racial inequities with respect to student loans and 
        other types of financial products and services, and 
        policy solutions to promote equity.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Consumer Protection and Financial Institutions 
Subcommittee held two hearings examining high cost short-term 
credit and debt collection with respect to consumers and small 
businesses:
           ``Slipping Through the Cracks: Policy 
        Options to Help America's Consumer During the 
        Pandemic,'' March 11, 2021: This hearing focused on a 
        variety of consumer protection issues, including 
        exploring ways to enhance debt collection practices 
        with respect to servicemembers.
           ``Small Businesses, Big Impact: Ensuring 
        Small and Minority-Owned Businesses Share in the 
        Economic Recovery,'' February 17, 2022: This hearing 
        focused on the availability of credit, potential gaps 
        in legal protections for small business borrowers, 
        discrimination, credit reporting, and debt collection.
    The Committee considered the following legislation to 
address high-cost small dollar loans and debt collection 
protections for consumers and small businesses:
           H.R. 2547, the ``Comprehensive Debt 
        Collection Improvement Act,'' introduced by Chairwoman 
        Maxine Waters, which includes the following bills:
                    H.R. 2540, the ``Small Business Lending 
                Fairness Act,'' introduced by Representative 
                Nydia Velazquez, which prohibits as a condition 
                to a loan or extension of credit a confession 
                of judgment or similar agreement. (A confession 
                of judgment is an agreement to a judgment of 
                liability without notice and opportunity to be 
                heard in court in the event of the default of a 
                borrower.)
                    H.R. 1491, the ``Fair Debt Collection 
                Practices for Servicemembers Act,'' introduced 
                by Representative Madeleine Dean, which would 
                prohibit a debt collector from representing to 
                service members that failure to cooperate with 
                a debt collector will result in a reduction of 
                rank, a revocation of security clearance, or 
                military prosecution.
                    H.R. 2498, the ``Private Loan Disability 
                Discharge Act,'' introduced by Representative 
                Madeleine Dean, which would direct the holder 
                of a private education loan to discharge the 
                loan in the event of the borrower's death or 
                total and permanent disability.
                    H.R. 2537, the ``Consumer Protection for 
                Medical Debt Collections Act,'' introduced by 
                Representative Rashida Tlaib, which would 
                restrict the inclusion of medical debt on a 
                consumer credit report.
                    H.R. 1657, the ``Ending Debt Collection 
                Harassment Act,'' introduced by Representative 
                Ayanna Pressley, which would prohibit a debt 
                collector from sending electronic 
                communications to a consumer without the 
                consumer's consent, among other reforms.
                    H.R. 2572, the ``Stop Debt Collection Abuse 
                Act,'' introduced by Representative Emanuel 
                Cleaver, which would apply FDCPA consumer 
                protections regarding debt collection of debt 
                owed to a federal agency and to debt buyers.
                    H.R. 2628, the ``Debt Collection Practices 
                Harmonization Act,'' introduced by 
                Representative Gregory Meeks, which would apply 
                FDCPA protections regarding debt collection of 
                debt owed to a state.
                    H.R. 2458, ``Non-Judicial Foreclosure Debt 
                Collection Clarification Act,'' introduced by 
                Representative Jake Auchincloss, which would 
                extend debt collection consumer protections for 
                debt relating to nonjudicial foreclosures.
           H.R. 5974, the ``Veterans and Consumers Fair 
        Credit Act'', introduced by Representative C. Garcia, 
        which would extend the 36% interest rate cap required 
        under the Military Lending Act to all consumer loans.
           H.R. 6814, the ``Small Business Fair Debt 
        Collection Protection Act'', introduced by 
        Representative Lawson, which would extend the Fair Debt 
        Collection Practices Act (FDCPA), which currently 
        protects consumers from certain predatory debt 
        collection practices, to cover small business 
        borrowers.
    Mandatory Arbitration. The Full Committee held five 
hearings where mandatory arbitration was considered:
           ``Holding Megabanks Accountable: An Update 
        on Banking Practices, Programs and Policies,'' May 27, 
        2021: This hearing examined the practices, programs and 
        policies of the largest U.S. banks, including how they 
        treated consumers during the COVID-19 pandemic.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updates on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Committee considered the following legislation to 
address mandatory arbitration:
           H.R. 3948, the Greater Supervision in 
        Banking (G-SIB) Act, introduced by Representative 
        Ayanna Pressley, which would require global 
        systemically important financial institutions (G-SIBs) 
        to submit annual reports to the Federal Reserve, which 
        would be publicly disclosed, including their use of 
        mandatory arbitration clauses.
    Fair Access to Affordable Consumer Financial Products and 
Services. The Full Committee held six separate hearings 
examining barriers consumers face to gaining fair access to 
affordable financial products and services.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing focused on 
        solutions that remove barriers to housing, 
        homeownership, capital access and financial services 
        and replace them with real opportunities that create 
        equity for people and communities of color in the 
        financial services industry and beyond.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updates on the CFPB's activities, including 
        research, rule making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking, ensure safety and soundness in the financial 
        system, hold banks and credit unions accountable as 
        well as other regulatory and supervisory updates.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Consumer Protection and Financial Institutions 
Subcommittee held two hearings examining fair access to 
affordable financial products and service:
           ``Banking the Unbanked: Exploring Private 
        and Public Efforts to Expand Access to the Financial 
        System,'' July 21, 2021: This hearing focused on 
        examining trends in unbanked and underbanked 
        households, challenges to improve access to mainstream 
        financial services, and current initiatives and 
        proposals to better expand the availability of safe and 
        affordable banking and financial services.
           ``The End of Overdraft Fees? Examining the 
        Movement to Eliminate the Fees Costing Consumers 
        Billions,'' March 31, 2022: This hearing focused on 
        examining evolving trends regarding overdraft programs 
        and fees, their impact on consumers, alternative 
        products or services available to consumers to help 
        avoid overdraft fees, and policy proposals to improve 
        consumer protections when consumers overdraft.
    The Task Force on Financial Technology held one hearing 
examining fair access to affordable financial products and 
services:
           ``Buy Now, Pay More Later? Investigating 
        Risks and Benefits of BNPL and Other Emerging Fintech 
        Cash Flow Products,'' November 2, 2021: This hearing 
        focused on regulatory and consumer protection issues 
        related to consumer loan products offered by 
        technology-focused, nonbank financial institutions 
        (fintechs), including Buy Now, Pay Later (BNPL), earned 
        wage access (EWA), and overdraft avoidance products.
    The Committee considered the following legislation to 
address banking deserts, unaffordable and excessive overdraft 
fees, and other challenges consumers when seeking to open and 
maintain a bank account:
           H.R. 4277, the ``Overdraft Protection Act'' 
        introduced by Representative Maloney, which would among 
        other things, strengthen protections and disclosures 
        for consumers with respect to overdraft fees, under the 
        Truth In Lending Act (TILA), limit the number of 
        overdraft fees a bank may charge on a monthly and 
        annual basis, and codify Federal Reserve requiring 
        financial institutions to provide consumers with the 
        opportunity to opt-in to overdraft coverage for all 
        transactions.
           H.R. 7003, the ``Expanding Financial Access 
        for Underserved Communities Act, '' introduced by 
        Chairwoman Waters, which would among other things allow 
        all federal credit unions to apply to the National 
        Credit Union Administration (NCUA) to expand their 
        field of membership to include underserved communities, 
        including communities that lack a depository 
        institution branch within 10 miles.
           H.R. ___, the ``Public Banking Act of 2021'' 
        introduced by Representative Ocasio-Cortez, which would 
        among other things promote the formation of public 
        banks operated by local or state governments through an 
        incubator program that provides grants and technical 
        assistance to new public banks and allow public banks 
        to be members of the Federal Reserve while clarifying 
        those banks also have access to the Federal Reserve's 
        payment systems and FDIC deposit insurance.
           H.R. ___, the ``Access to No-Fee Accounts 
        Act'', which would require the Federal Reserve to 
        establish no-fee digital transaction accounts, with no 
        minimum balance requirements, that would be available 
        to individuals and small businesses, which would be 
        available at member banks of the Federal Reserve System 
        and other participating banks and credit unions, as 
        well as U.S. Postal Service branch offices.
           H.R. ___, the ``Expanding Access to 
        Affordable Bank Accounts Act,'' which would require 
        large depository institutions and encourage small 
        depository institutions to offer at least one account 
        option that does not charge overdraft and NSF fees, and 
        commission a study that would among other things, 
        review how expanding access to low-fee accounts could 
        change banking outcomes for historically unbanked 
        communities, analyze the effectiveness of BankOn-
        certified accounts, and provides recommendations 
        improving access to affordable bank accounts.
    Discrimination in Lending. The Full Committee held four 
separate hearings examining lending discrimination as 
experienced by individuals and communities.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing focused on 
        solutions that remove barriers to housing, 
        homeownership, capital access and financial services 
        and replace them with real opportunities that create 
        equity for people and communities of color in the 
        financial services industry and beyond.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updates on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Consumer Protection and Financial Institutions 
Subcommittee held two hearings examining redlining, 
discrimination in lending to small businesses, as well as 
modern-day disparities in access to credit and other financial 
services.
           ``Small Business, Big Impact: Ensuring Small 
        and Minority-owned Businesses Share in the Economic 
        Recovery,'' February 17, 2022: This hearing focused on 
        the availability of credit, potential gaps in legal 
        protections for small business borrowers, 
        discrimination, credit reporting, and debt collection.
           ``Better Together: Examining the Unified 
        Proposed Rule to Modernize the Community Reinvestment 
        Act ,'' July 13, 2022: This hearing focused on the 
        joint proposal by federal banking regulators to 
        modernize and strengthen Community Reinvestment Act 
        rules.
    The Committee considered the following legislation to 
address discrimination in home lending and lending to small 
business owners:
           H.R. 2540, the ``Small Business Lending 
        Fairness Act'', introduced by Representative Velazquez, 
        which would prohibit the use of a confession of 
        judgment as a condition to a loan or extension of 
        credit to a small business borrower.
           H.R. 2543, the ``Financial Services Racial 
        Equity, Inclusion, and Economic Justice Act,'' 
        introduced by Chairwoman Waters, which would make a 
        number of reforms to promote racial equity in financial 
        services, including with respect to monetary policy, 
        fair lending, and providing a range of capital 
        investments, grants, and other support for minority 
        depository institutions (MDIs) and community 
        development financial institutions (CDFIs).
           H.R. 2768, the ``American Housing and 
        Economic Mobility Act'' introduced by Representative 
        Cleaver, which would among other things, strengthen 
        fair housing protections, subject independent mortgage 
        companies to CRA exams, codify community benefits 
        agreements, specify conditions under which a bank may 
        receive a downgrade and be required to create an 
        improvement plan, and require disclosure of deposits 
        from LMI communities.
           H.R. 6054, the ``Small Business Lending 
        Disclosure Act'', introduced by Representative 
        Velazquez, which would require small business loans to 
        be covered by the Truth In Lending Act.
           H.R. 7351, the ``Promoting Fair Lending to 
        Small Businesses Act'', introduced by Representative 
        Velazquez, which would clarify that the CFPB has 
        supervisory and fair lending enforcement authority of 
        non-depository lenders to small businesses that collect 
        and report data pursuant to Section 1071 of the Dodd-
        Frank Act.
           H.R. 8833, the ``Making Communities Stronger 
        through the Community Reinvestment Act'' introduced by 
        Chairwoman Waters, which would revise CRA rules to 
        ensure that bank loans and investments are meaningful 
        and responsive to the needs of low- and moderate income 
        and communities of color including by requiring banks 
        to regularly meet with stakeholders to discuss current 
        and future CRA obligations, encouraging banks to issue 
        small-dollar mortgages and requiring a study 
        identifying ongoing discrimination or racial 
        disparities in access to credit.
    Community Reinvestment Act (CRA). The Full Committee held 
five separate hearings examining modern-day redlining, the 
impact of Community Reinvestment Act, and proposals to 
strengthen the implementation of CRA.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing examined 
        racial inequities with respect to consumer and other 
        types of financial products and services, and policy 
        solutions to promote equity.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Holding Megabanks Accountable: An Update 
        on Banking Practices, Programs and Policies,'' May 27, 
        2021: This hearing examined the practices, programs and 
        policies of the largest U.S. banks, including how they 
        treated consumers during the COVID-19 pandemic.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking, ensure safety and soundness in the financial 
        system, hold banks and credit unions accountable as 
        well as other regulatory and supervisory updates.
    The Consumer Protection and Financial Institutions 
Subcommittee held one hearing examining the effects of modern-
day redlining on low-income communities and communities of 
color as well as proposals to strengthen and modernize 
Community Reinvestment Act rules.
           ``Better Together: Examining the Unified 
        Proposed Rule to Modernize the Community Reinvestment 
        Act,'' July 13, 2022: This hearing focused on the joint 
        proposal by federal banking regulators to modernize and 
        strengthen Community Reinvestment Act rules.
    The Diversity and Inclusion Subcommittee held one hearing 
examining the effects of modern-day redlining on low-income 
communities and communities of color.
           ``Unfinished Business: A Review of Progress 
        Made and a Plan to Achieve Full Economic Inclusion for 
        Every American,'' December 6, 2022: This hearing 
        focused on reviewing the progress towards full economic 
        inclusion for all in the financial services industry 
        and capital markets since the creation of the 
        Subcommittee on Diversity and Inclusion in January 
        2019, which has among other things, analyzed the racial 
        and gender wealth gap, the state of diversity within 
        the financial services industry, and barriers to 
        economic inclusion for women, people of color, people 
        with disabilities, the LGBTQ+ community, and justice-
        involved individuals.
    The Committee considered the following legislation to 
address reforms needed to strengthen and modernize CRA rules 
and put an end to modern-day redlining:
           H.R. 8833, ``Making Communities Stronger 
        through the Community Reinvestment Act, introduced by 
        Chairwoman Waters, which would revise CRA rules to 
        ensure that bank loans and investments are meaningful 
        and responsive to the needs of low- and moderate income 
        and communities of color including by requiring banks 
        to regularly meet with stakeholders to discuss current 
        and future CRA obligations, encouraging banks to issue 
        small-dollar mortgages and requiring a study 
        identifying ongoing discrimination or racial 
        disparities in access to credit.
           H.R. ___, ``American Community Investment 
        Reform Act,'' is a discussion draft that would expand 
        the federal CRA regulators to include the CFPB and SEC, 
        as well as make certain revisions to CRA exams. 
        Specifically, it expands community development CRA 
        activities to include lending and investment by non-
        bank firms, includes consideration of a bank holding 
        company's subsidiaries on the company's evaluation, and 
        requires CRA regulated firms to create an improvement 
        plan if they receive a low rating. It would also make 
        certain changes to the overall performance rating on 
        CRA exams, and prohibits the award of government 
        contracts to CRA regulated firms that fail their CRA 
        exams.
           H.R. ___, the ``Community Reinvestment 
        Reform Act'' is a discussion draft led by 
        Representative Cleaver, which would subject independent 
        mortgage companies to CRA exams, codify community 
        benefits agreements, specify conditions under which a 
        bank may receive a downgrade and be required to create 
        an improvement plan, and require disclosure of deposits 
        from LMI communities.
    Members of the Committee also sent the following letter 
regarding strengthening and modernizing Community Reinvestment 
Act rules.
           On August 5, 2022, Chairwoman Maxine Waters 
        sent a letter to the OCC, Fed, and FDIC, signed by 76 
        other Members of the House of Representatives, with 
        recommendations for strengthening CRA rules, and urging 
        the regulators to finalize rules that would put an end 
        to modern-day redlining.
    Department of the Treasury, Financial Stability Oversight 
Council (FSOC) and Office of Financial Research (OFR). The Full 
Committee held two hearings examining financial stability 
issues, including the work of FSOC and OFR.
           ``Digital Assets and the Future of Finance: 
        The President's Working Group on Financial Markets' 
        Report on Stablecoins,'' February 8, 2022: the hearing 
        examined the financial stability and other types of 
        risks posed by payment stablecoins, and potential 
        policy solutions.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, as well 
        as how OFR supports the work of FSOC.
    The Subcommittee on Consumer Protection and Financial 
Institutions held two hearings examining financial stability 
matters, such as cybersecurity and climate-related risks.
           ``Addressing Climate as a Systemic Risk: The 
        Need to Build Resilience within Our Banking and 
        Financial System,'' June 30, 2021: this hearing 
        explored the risks posed by climate change to financial 
        stability.
           ``Cyber Threats, Consumer Data, and the 
        Financial System,'' November 3, 2021: this hearing 
        explored cybersecurity, which has been a persistent 
        threat to financial stability.
    The Committee considered the following legislation to 
address topic:
           H.R. 3571, the ``Climate Change Financial 
        Risk Act,'' introduced by Representative Sean Casten, 
        which would require FSOC to establish a committee to 
        assist it in identifying risks and responding to 
        threats to the financial system as a result of climate 
        change. It would also require the Fed to develop 
        financial risk analyses relating to climate change for 
        certain large banks and nonbank financial companies.
           H.R. 5419, the ``Bank Merger Review 
        Modernization Act,'' introduced by Representative Chuy 
        Garcia, would clarify and strengthen the public 
        interest aspect of the merger review and require 
        regulators to use a quantifiable metric to evaluate 
        systemic risk.
           H.R. 7022, the ``Strengthening Cybersecurity 
        for the Financial Sector Act,'' introduced by 
        Representative Bill Foster, which reauthorize authority 
        NCUA had between 1998 and 2002 over credit union third-
        party vendors. The bill would also provide the Federal 
        Housing Finance Agency with similar authority over 
        third-party vendors of their regulated entities.
           H.R. ___, the ``Systemic Risk Mitigation 
        Act,'' sponsored by Representative Chuy Garcia, would 
        designate nonbank financial companies above a certain 
        size and riskiness for enhanced regulation and 
        oversight by the Federal Reserve, and provide a de-
        designation process for these firms. The bill would 
        give FSOC rulemaking authority to address systemically 
        risky activities.
           H.R. ___, the ``Treasury Market Transparency 
        Act of 2022,'' sponsored by Representative Mike 
        Quigley, would amend the Securities Exchange Act of 
        1934 to require real-time public reporting of secondary 
        transactions in government securities.
           H.R. ___, the ``Improving Prudential 
        Standards for Nonbank Mortgage Servicers Act,'' would 
        give authority to the Federal Housing Finance Agency 
        (FHFA) to establish minimum federal standards for the 
        net worth, capital, liquidity, and other prudential 
        standards for non-bank mortgage servicers.
    Supervision and Enforcement of Financial Institutions. The 
Full Committee held five hearings examining how financial 
regulators supervise and take enforcement actions with respect 
to financial institutions.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking, ensure safety and soundness in the financial 
        system, hold banks and credit unions accountable as 
        well as other regulatory and supervisory updates.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Consumer Protection and Financial Institutions 
Subcommittee held one hearing examining the evolution of the 
banking sector and the need for potential updates to the 
regulatory framework.
           ``The Future of Banking: How Consolidation, 
        Nonbank Competition, and Technology are Reshaping the 
        Banking System,'' September 29, 2021: This hearing 
        focused on ways the banking sector has continued to 
        consolidate, and the impact nonbanks and fintechs were 
        having with respect to delivering various banking 
        products and services to consumers.
    The Committee considered the following legislation to 
improve the supervision and enforcement of financial 
institutions:
           H.J. Res. 35, ``Resolution of Disapproval on 
        the OCC's National Banks and Federal Savings 
        Associations as Lenders Final Rule'', introduced by 
        Representative C. Garcia, which would nullify the OCC's 
        problematic final ``True Lender'' rule on bank 
        partnerships.
           H.R. 7003, the ``Expanding Financial Access 
        for Underserved Co Communities Act,'' introduced by 
        Chairwoman Waters, which would among other things, 
        allow credit unions to expand their field of membership 
        to include underserved communities that lack a 
        depository institution branch within 10 miles.
           H.R. 7022, the ``Strengthening Cybersecurity 
        for the Financial Sector Act,'' introduced by 
        Representative Foster, which would reauthorize and make 
        permanent authority the NCUA temporarily had between 
        1998 and 2002 over credit union third-party vendors 
        from between 1998 and 2002, similar to permanent 
        authority bank regulators have pursuant to the Bank 
        Service Company Act.
           H.R. 5912, the ``Close the ILC Loophole 
        Act,'' introduced by Representative Chuy Garcia, which 
        would eliminate an exemption to the BHCA that permits 
        ILCs and their corporate owners to operate outside of 
        the law's regulatory framework, including ownership 
        restrictions. The discussion draft would grandfather 
        existing ILCs and any pending ILC application that may 
        be approved in the next two years pursuant to an 
        enhanced review, while subjecting parent companies of 
        grandfathered ILCs to Fed supervision.
           H.R. ___, ``Repeat Offenders, Megabanks, and 
        Credit Bureaus Accountability Act,'' sponsored by 
        Chairwoman Waters. This bill would require the CFPB, 
        Federal Reserve, FDIC, and OCC to design a strategic 
        plan outlining how they would utilize the full extent 
        of their existing authority to hold megabanks, credit 
        bureaus, and other large financial institutions 
        accountable for a pattern of repeated compliance 
        failures, including those that result in extensive 
        consumer harm. It would also require treble damages for 
        harmed consumers when these large institutions do not 
        promptly notify the CFPB and the public when they 
        violate any Federal consumer protection law and provide 
        for prompt remediation for harmed consumers. The bill 
        would also require greater transparency regarding 
        supervisory grades given to megabanks, and standards 
        with respect to megabank boards. This bill is based, in 
        part, on the Committee's investigations of Wells Fargo 
        and Equifax.
    Enhanced Prudential Standards for Large Banks. The Full 
Committee held four hearings examining the enhanced prudential 
standards (e.g. capital, liquidity, stress testing, living 
wills, etc.) that apply to the largest banks.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Holding Megabanks Accountable: An Update 
        on Banking Practices, Programs and Policies,'' May 27, 
        2021: This hearing examined the practices, programs and 
        policies of the largest U.S. banks, including how they 
        treated consumers during the COVID-19 pandemic.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking, ensure safety and soundness in the financial 
        system, hold banks and credit unions accountable as 
        well as other regulatory and supervisory updates.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace.
    The Committee considered the following legislation to 
improve transparency with respect to megabanks, including the 
capital and liquidity they maintain.
           H.R. 3948, the Greater Supervision in 
        Banking (G SIB) Act, introduced by Representative 
        Ayanna Pressley, which would require global 
        systemically important financial institutions (G SIBs) 
        to submit annual reports to the Federal Reserve, which 
        would be publicly disclosed, including their use of 
        mandatory arbitration clauses.
           H.R. ___, Countercyclical Capital Buffer Act 
        would require the Fed to activate the countercyclical 
        capital buffer (CCyB) for the largest banks upon the 
        Federal Open Market Committee (FOMC) increasing 
        interest rates.
    Members of the Committee also sent the following letter on 
enhanced prudential standards for large banks.
           On December 4, 2020, Chairwoman Maxine 
        Waters sent a letter to then President-Elect Joseph R. 
        Biden, providing a variety of policy recommendations, 
        including encouraging Biden's prudential regulators to 
        reconsider various ways enhanced prudential standards--
        including capital, liquidity, stress testing, and 
        living wills for large banks--were diminished during 
        the Trump Administration, and explore ways to 
        strengthen those standards to promote financial 
        stability.
    Bank Mergers and Market Concentration. The Full Committee 
held four separate hearings examining bank mergers and market 
concentration.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Holding Megabanks Accountable: An Update 
        on Banking Practices, Programs and Policies,'' May 27, 
        2021: This hearing examined the practices, programs and 
        policies of the largest U.S. banks, including how they 
        treated consumers during the COVID-19 pandemic.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking, ensure safety and soundness in the financial 
        system, hold banks and credit unions accountable as 
        well as other regulatory and supervisory updates.
    The Consumer Protection and Financial Institutions 
Subcommittee held one hearing examining the impact of banker 
mergers and market concentration on consumers, small 
businesses, communities of color, and bank workers.
           ``The Future of Banking: How Consolidation, 
        Nonbank Competition, and Technology are Reshaping the 
        Banking System,'' September 29, 2021: This hearing 
        focused on examining evolving trends in bank mergers 
        and market concentration in the financial services 
        sector, and their impact on consumers, small 
        businesses, communities of color, bank employees, and 
        other industry participants, and evaluate policy 
        options to ensure there are robust safeguards that 
        improve competitiveness, promote innovation, and 
        provide broad access to affordable financial products 
        and services.
    The Committee considered the following legislation to 
improve bank merger reviews:
           H.R. 5419, the ``Bank Merger Review 
        Modernization Act of 2021'' introduced by 
        Representative C. Garcia, which would ensure bank 
        mergers are in the public interest by clarifying and 
        strengthening the public interest aspect of the merger 
        review and require regulators to use a quantifiable 
        metric to evaluate systemic risk.
           H.R. ___, the ``Enhanced Community Input on 
        Megabank Merger Reviews Act.'' This bill would require 
        regulators to establish a joint online database for 
        proposed bank mergers, giving the public 120 days to 
        comment on such mergers, requiring regulators convene a 
        public hearing for large bank mergers (resulting bank 
        has over $100 billion in total assets), and requiring a 
        plan to minimize the creation of banking deserts 
        resulting from large bank mergers with input from LMI 
        communities and communities of color.
    Members of the Committee also sent the following letters 
regarding the bank merger review process.
           On July 15, 2021, Chairwoman Waters sent a 
        letter to the Fed urging them to heed President Biden's 
        encouragement to conduct more robust scrutiny of bank 
        mergers.
           On December 10, 2021, Chairwoman Waters sent 
        a letter to the OCC, FDIC and the Fed on the importance 
        of strengthening bank merger approval procedures, 
        urging them to always hold a public hearing on large 
        bank mergers, as well as consult with FSOC and CFPB.
           On December 21, 2021, Chairwoman Waters sent 
        a letter to then FDIC Chairman McWilliams asking for 
        her legal basis in attempting to impede a majority of 
        the FDIC's Board from issuing a request for public 
        input on strengthening the agency's merger reviews.
    Residential and Commercial Real Estate Mortgage Loans. The 
Full Committee held six separate hearings examining mortgage 
lending activities by depositories and non-depository lenders, 
as well as efforts by federal agencies and lenders to support 
struggling homeowners avoid delinquency and foreclosure.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Holding Megabanks Accountable: An Update 
        on Banking Practices, Programs and Policies,'' May 27, 
        2021: This hearing examined the practices, programs and 
        policies of the largest U.S. banks, including how they 
        treated consumers during the COVID-19 pandemic.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Consumer Protection and Financial Institutions and 
Diversity and Inclusion Subcommittee held two separate hearings 
examining the barriers to affordable mortgage loan products, 
and efforts needed to address the persisting racial wealth and 
homeownership gaps.
           ``Unfinished Business: A Review of Progress 
        Made and a Plan to Achieve Full Economic Inclusion for 
        Every American,'' December 6, 2022: This hearing 
        focused on reviewing the progress towards full economic 
        inclusion for all in the financial services industry 
        and capital markets since the creation of the 
        Subcommittee on Diversity and Inclusion in January 
        2019, which has among other things, analyzed the racial 
        and gender wealth gap, the state of diversity within 
        the financial services industry, and barriers to 
        economic inclusion for women, people of color, people 
        with disabilities, the LGBTQ+ community, and justice-
        involved individuals.
           ``Better Together: Examining the Unified 
        Proposed Rule to Modernize the Community Reinvestment 
        Act,'' July 13, 2022: This hearing focused on the joint 
        proposal by federal banking regulators to modernize and 
        strengthen Community Reinvestment Act rules.
    The Committee considered the following legislation to 
address existing disparities in access to affordable mortgages 
for low-income people and communities of color, mortgage 
servicing challenges faced by homeowners falling behind on 
their mortgage payments, and language barriers for homeowners 
with Limited English Proficiency:
           H.R. 3009, ``Improving Language Access in 
        Mortgage Servicing Act,'' introduced by Representative 
        S. Garcia, which would among other things require 
        language translation on residential mortgage 
        applications and in the servicing of mortgages, create 
        a standard language preference form.
           H.R. 8833, ``Making Communities Stronger 
        through the Community Reinvestment Act,'' introduced by 
        Chairwoman Waters, which would revise CRA rules to 
        ensure that bank loans and investments are meaningful 
        and responsive to the needs of low- and moderate income 
        and communities of color including by requiring banks 
        to regularly meet with stakeholders to discuss current 
        and future CRA obligations, encouraging banks to issue 
        small-dollar mortgages and requiring a study 
        identifying ongoing discrimination or racial 
        disparities in access to credit.
           H.R. ___, ``Community Reinvestment Reform 
        Act,'' introduced by Representative Cleaver, which 
        would subject independent mortgage companies to CRA 
        exams, codify community benefits agreements, specify 
        conditions under which a bank may receive a downgrade 
        and be required to create an improvement plan, and 
        require disclosure of deposits from LMI communities.
           H.R. ___, the ``Preventing Unfair 
        Foreclosures Act'', which would codify CFPB's 
        Regulation X rule requiring 120 days of delinquency 
        before the start of a foreclosure, improve written 
        notices during the mortgage servicing process, 
        establish data sharing requirements between CFPB and 
        other federal agencies, and otherwise improve the 
        mortgage servicing process for homeowners.
    Members of the Committee sent the following letter 
regarding foreclosure prevention and increased protections for 
struggling homeowners.
           On August 5, 2021, Chairwoman Waters sent 
        two letters to federal housing agencies and banking 
        regulators urging them to strengthen foreclosure and 
        mortgage servicing protections for borrowers and 
        provide greater oversight to prevent unnecessary 
        foreclosures during the pandemic.
    Community Financial Institutions, including CDFIs and MDIs. 
The Full Committee held five separate hearings examining the 
efforts of Congress and federal regulators to support MDIs and 
CDFIs, and the impact on communities.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Holding Megabanks Accountable: An Update 
        on Banking Practices, Programs and Policies,'' May 27, 
        2021: This hearing examined the practices, programs and 
        policies of the largest U.S. banks, including their 
        support for MDIs and CDFIs.
           ``An Unprecedented Investment for Historic 
        Results: How Federal Support for MDIs and CDFIs Have 
        Launched a New Era for Disadvantaged Communities,'' 
        February 11, 2022: This hearing focused on the efforts 
        of Congress and federal regulators to support MDIs and 
        CDFIs, including during the pandemic, and the impact of 
        CDFIs and MDIs on low income communities, communities 
        of color, small businesses and other underserved areas.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace, including an update on their 
        support for MDIs and CDFIs.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking, ensure safety and soundness in the financial 
        system, hold banks and credit unions accountable as 
        well as other regulatory and supervisory updates.
    The Consumer Protection and Financial Institutions 
Subcommittee held one hearing examining the targeted support 
that community lenders, including CDFI and MDIs, provide to 
small and minority-owned businesses, including to ensure those 
businesses could access pandemic relief programs like the 
Paycheck Protection Program.
           ``Small Businesses, Big Impact: Ensuring 
        Small and Minority-Owned Businesses Share in the 
        Economic Recovery,'' February 17, 2022: This hearing 
        focused on the availability of credit, potential gaps 
        in legal protections for small business borrowers, 
        discrimination, credit reporting, and debt collection.
    The Committee considered the following legislation to 
address additional federal investments needed to sustain MDIs 
and CDFIs, promote their creation and growth, and help them 
scale the impact of their work in underserved communities:
           H.R. 2543, the ``Financial Services Racial 
        Equity, Inclusion, and Economic Justice Act,'' 
        introduced by Chairwoman Waters, which would make a 
        number of reforms to promote racial equity in financial 
        services, including with respect to monetary policy, 
        fair lending, and providing a range of capital 
        investments, grants, and other support for minority 
        depository institutions (MDIs) and community 
        development financial institutions (CDFIs).
           H.R. 3323, ``Federal Home Loan Banks'' 
        Mission Implementation Act,'' introduced by 
        Representative Torres, would expand the ability of 
        Federal Home Loan Banks (FHLBs) to provide advances and 
        grants for investments in small businesses, affordable 
        housing, and community development, including by, among 
        other things, expanding the availability of advances to 
        certain CDFIs and credit unions.
           H.R. 5315, ``Expanding Opportunity for MDIs 
        Act,'' introduced by Representative Beatty, would 
        codify the Financial Agent Mentor-Protege Program 
        within the Department of the Treasury. The program 
        provides participating MDIs and other small financial 
        institutions with mentorship from larger financial 
        institutions regarding becoming a financial agent for 
        Treasury and improving service capacity.
           H.R. 6745, ``Ensuring Diversity in Community 
        Banking Act,'' Introduced by Representative Meeks, 
        would strengthen minority depository institutions and 
        ``impact banks'' that predominantly serve low-income 
        communities through partnerships, technical assistance, 
        and deposits.
           H.R. 7733, ``CDFI Bond Guarantee Program 
        Improvement Act,'' introduced by Representative 
        Cleaver, would reduce the CDFI Bond Guarantee Program 
        minimum issuance threshold from $100 million to $25 
        million, require a study, and make the program 
        permanent within 4 years of the bill's enactment.
           H.R. 7978, ``Promoting and Advancing 
        Communities of Color Through Inclusive Lending Act,'' 
        introduced by Chairwoman Waters, would, among other 
        things, require 40 percent of all CDFI Fund 
        appropriations to be reserved for minority lending 
        institutions (MLIs); establish an Office and Deputy 
        Director of MLIs; authorize an additional $4 billion in 
        capital investments, grants, and technology support for 
        MDIs and CDFIs to meet demand; establish a searchable 
        map for all CDFIs and MDIs so the public may locate 
        nearby institutions; create a new CDFI award program to 
        support young entrepreneurs; study securitization 
        options for CDFIs; ensure access to emergency liquidity 
        in future crises through the Federal Reserve's discount 
        window; make reforms to strengthen MDIs through 
        partnerships, deposits, and investments; and reduce the 
        CDFI Bond Guarantee threshold to $25 million from $100 
        million.
    Members of the Committee also sent the following letters 
regarding the technology, capital and liquidity needs of MDIs 
and CDFIs.
           On January 18, 2022 Chairwoman Maxine Waters 
        and Senator Warner sent a letter to the Fed Chair 
        Powell, to urge the Federal Reserve to provide guidance 
        as soon as possible to Subchapter S and Mutual bank 
        Emergency Capital Investment Program (ECIP) recipients.
           On June 15, 2022 Chairwoman Maxine Waters 
        and Senator Warner sent a letter to the Government 
        Accountability Office (GAO), asking for a study on 
        supporting the technology modernization needs of CDFIs 
        and MDIs.
    Access to Credit and Borrower Protections for Small 
Businesses. The Full Committee held one hearing examining the 
critical support that community lenders, including CDFIs and 
MDIs, continue to provide to small businesses, during the 
pandemic and beyond.
           ``An Unprecedented Investment for Historic 
        Results: How Federal Support for MDIs and CDFIs Have 
        Launched a New Era for Disadvantaged Communities,'' 
        February 11, 2022: This hearing focused on the efforts 
        of Congress and federal regulators to support MDIs and 
        CDFIs, including during the pandemic, and the impact of 
        CDFIs and MDIs on low income communities, communities 
        of color, small businesses and other underserved areas.
    The Subcommittee on National Security, International 
Development and Monetary Policy held one hearing exploring the 
need for further financial support for small and diverse-owned 
small businesses.
           ``Supporting Small and Minority-Owned 
        Businesses Through the Pandemic,'' February 4, 2021: 
        This hearing focused on exploring the evolving 
        financial needs of small businesses, and consider 
        proposals that build on such programs, like SSBCI, to 
        provide additional support during the pandemic and 
        beyond.
    The Subcommittee on Consumer Protection and Financial 
Institutions held one hearing examining the capital needs of 
small businesses, especially during the pandemic, as well as 
the potential gaps in legal protections for small business 
borrowers.
           ``Small Businesses, Big Impact: Ensuring 
        Small and Minority-Owned Businesses Share in the 
        Economic Recovery,'' February 17, 2022: This hearing 
        focused on the availability of credit, potential gaps 
        in legal protections for small business borrowers, 
        discrimination, credit reporting, and debt collection.
    The Committee considered the following legislation to 
address the gaps in legal protections for small business 
borrowers:
           H.R. 1669, the ``State Small Business Credit 
        Initiative Renewal Act,'' introduced by Representative 
        Al Green, would renew Treasury Department's State Small 
        Business Credit Initiative (SSBCI) to provide funds to 
        states, territories, and tribal governments to support 
        small business lending and investment programs.
           H.R. 2540, the ``Small Business Lending 
        Fairness Act,'' introduced by Representative Nydia 
        Velazquez, would prohibit confessions of judgment on 
        commercial loans, which currently allow lenders to 
        easily seize commercial borrowers' assets without a 
        lawsuit, as a condition to a loan or extension of or 
        similar agreement.
           H.R. 6054, the ``Small Business Lending 
        Disclosure Act,'' introduced by Representative Nydia 
        Velazquez, would require small business loans to be 
        covered by the Truth In Lending Act, which currently 
        requires disclosures of loan terms for consumer 
        lending.
           H.R. 6814, the ``Small Business Fair Debt 
        Collection Protection Act,'' introduced by 
        Representative Al Lawson, would extend the Fair Debt 
        Collection Practices Act, which currently protects 
        consumers from certain predatory debt collection 
        practices, to cover small business borrowers.
           H.R. 7351, the ``Promoting Fair Lending to 
        Small Businesses Act,'' introduced by Representative 
        Nydia Velazqquez, would clarify that the CFPB has 
        supervisory and fair lending enforcement authority of 
        non-depository lenders to small businesses that collect 
        and report data pursuant to Section 1071 of the Dodd-
        Frank Act.
           H.R. ___, the Small Business Lender 
        Registry, would among other things, direct the CFPB to 
        consult with federal and state regulators to study the 
        scope of small business lenders, provide a report to 
        Congress that includes administrative and legislative 
        recommendations, and establish a small business lender 
        registry.
    Cybersecurity and Privacy. The Full Committee held six 
hearings examining cybersecurity and data privacy issues:
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, 
        including risks posed with respect to cybersecurity.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking, ensure safety and soundness in the financial 
        system, hold banks and credit unions accountable as 
        well as other regulatory and supervisory updates.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Consumer Protection and Financial Institutions 
Subcommittee held one hearing examining cyberthreats in the 
financial sector, the impacts of those threats on consumer 
data, and implications for the stability of the entire 
financial system.
           ``Cyber Threats, Consumer Data, and the 
        Financial System,'' November 3, 2021: This hearing 
        focused on this hearing explored cybersecurity, which 
        has been a persistent threat to financial stability.
    The Committee considered the following legislation to 
address cybersecurity and data privacy issues:
           H.R. 3910, the ``Safeguarding Non-bank 
        Consumer Information Act,'' introduced by 
        Representative Lynch, which would clarify the Gramm-
        Leach-Bliley Act's consumer financial privacy and data 
        security provisions and gives the CFPB rulemaking and 
        enforcement authority over the safeguards rule with 
        respect to data aggregators and other financial 
        institutions.
           H.R. 7022, the ``Strengthening Cybersecurity 
        for the Financial Sector Act,'' introduced by 
        Representative Bill Foster, which reauthorize authority 
        NCUA had between 1998 and 2002 over credit union third-
        party vendors. The bill would also provide the Federal 
        Housing Finance Agency with similar authority over 
        third-party vendors of their regulated entities.
           H.R. ___, the ``the Enhancing Cybersecurity 
        of Nationwide Consumer Reporting Agencies Act,'', which 
        would clarify the CFPB's authority to supervise and 
        examine Equifax, TransUnion, and Experian for 
        cybersecurity, and would also subject these CRAs to 
        minimum cybersecurity training requirements, and 
        require a study of recent data breaches of the 
        nationwide CRAs and provide administrative and 
        legislative recommendations to further enhance data 
        security.
    Credit Scores and Credit Reports. The Full Committee held 
four separate hearings examining the challenges consumers face 
in the credit reporting system, bias in the use of credit 
scores, and efforts of the CFPB to strengthen consumer 
protections in credit reporting and supervise consumer 
reporting agencies.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing examined 
        racial inequities with respect to consumer and other 
        types of financial products and services, and policy 
        solutions to promote equity.
           ``A Biased, Broken System: Examining 
        Proposals to Overhaul Credit Reporting to Achieve 
        Equity,'' June 29, 2021: This hearing focused on 
        examining the numerous shortcomings with the current 
        credit reporting system, including the 2017 Equifax 
        data breach, the financial and other forms of extreme 
        distress consumers experience due to inaccurate or 
        erroneous information on their consumer credit reports, 
        and the comprehensive reforms needed to make the system 
        more equitable and more accountable to consumers.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Oversight and Investigations Subcommittees held one 
hearing examining the impact of inaccuracies and errors on 
consumer credit reports, the dispute process and systems that 
credit reporting agencies have in place, as well as the 
challenges consumers face to dispute those errors.
           ``Consumer Credit Reporting: Assessing 
        Accuracy and Compliance,'' May 26, 2021: This hearing, 
        which invited testimony from executives of the 
        nationwide credit reporting agencies, focused on the 
        accuracy and of consumer credit reports, the problems 
        consumers experience when they encounter incomplete or 
        erroneous information on their credit reports and then 
        find significant barriers when attempting to rectify 
        such errors.
    The Consumer Protection and Financial Institutions 
Subcommittee held one hearing examining credit reporting and 
credit scores during the pandemic, and ways to strengthen 
consumer protections.
           ``Slipping Through the Cracks: Policy 
        Options to Help America's Consumers During the 
        Pandemic,'' March 11, 2021: This hearing focused on the 
        gaps in consumer protections during the pandemic and 
        evaluate possible policy responses to ensure all 
        consumers and small business owners can get through a 
        period of uncertainty and share in the economic 
        recovery.
    The Committee considered the following legislation to 
address long-standing reforms to fix the biased and broken 
credit reporting system, including by increasing accuracy in 
credit reporting, helping consumers get more control of their 
data, increasing consumers access to credit reports and score 
free of charge, helping consumers dispute errors on their 
credit reports, and expanding access to homeownership for 
consumers without a credit score:
           H.R. 4120, ``Comprehensive Consumer Credit 
        Reporting Reform Act,'' introduced by Representative 
        Pressley, which would make an extensive series of 
        reforms to the Fair Credit Reporting Act, including 
        requiring consumer reporting agencies maintain accurate 
        and complete information on consumer credit reports, 
        increasing consumers' rights to report and appeal 
        credit report disputes, assisting consumers struggling 
        with various types of debt and predatory loans and 
        creating stronger CFPB oversight of how credit scoring 
        models are formed. This package includes:
                    H.R. 4113, the ``Improving Credit Reporting 
                Disputes for All Consumers Act,'' sponsored by 
                Representative Alma Adams.
                    H.R. 4078, the ``Free Credit Scores for 
                Consumers Act,'' sponsored by Representative 
                Joyce Beatty.
                    H.R. 4119, the ``Student Borrower Credit 
                Improvement Act,'' sponsored by Representative 
                Ayanna Pressley.
                    H.R. 4115, the ``Restoring Unfairly 
                Impaired Credit and Protecting Consumers Act,'' 
                sponsored by Representative Rashida Tlaib.
                    H.R. 4112, the ``Clarity in Credit Score 
                Formation Act,'' introduced by Representative 
                Stephen Lynch.
                    H.R. 4144, the ``Restricting Use of Credit 
                Checks for Employment Decisions Act,'' 
                sponsored by Representative Al Lawson.
           H.R. 8485, the ``Expanding Access to Credit 
        through Consumer-Permissioned Data Act,'' introduced by 
        Representative N. Williams, which would codify a 
        provision in Regulation B of the Equal Credit 
        Opportunity to require lenders to consider additional 
        credit information not typically included on a 
        consumer's credit report, in the evaluation of a 
        borrower for a mortgage, upon the request of a consumer 
        to include that information.
           H.R. 8487, the ``Credit Reporting Accuracy 
        After a Legal Name Change Act,'' which would prohibit 
        Equifax, Transunion, and Experian from including a 
        transgender consumer's former name on their credit 
        report, following a legal name change.
           H.R. ___, the ``Protecting Your Credit Score 
        Act,'' introduced by Representative Gottheimer, which 
        would require Equifax, Experian, and Transunion, to 
        establish a single online consumer portal landing page 
        that gives consumers free and unlimited access to their 
        consumer reports and credit scores, while also 
        providing consumers with the ability to initiate 
        disputes about report accuracy and to place or remove a 
        security freeze.
           H.R. ___, the ``National Credit Reporting 
        Agency Act,'' which would establish the Public Credit 
        Registry within the CFPB, to increase access to credit 
        scores and reports, improve accuracy of consumer 
        reports, strengthen the consumer disputes and 
        complaints process, enhance credit scoring models after 
        the completion of a study on the impact on consumers, 
        and ensure the provision of credit counseling and 
        credit rehabilitation services to consumers.
    Members of the Committee also sent the following letters 
regarding the impact of inaccurate credit scores on consumer 
access to credit.
           On August 9, 2022, Chairwoman Maxine Waters 
        sent a letter to CFPB Director Rohit Chopra urging him 
        to use the full extent of his authority to hold Equifax 
        and its leadership accountable for providing inaccurate 
        credit scores on potentially thousands of consumers to 
        numerous financial institutions relating to their 
        credit applications.
           On August 9, 2022, Chairwoman Maxine Waters 
        sent a letter to the CEOs of Wells Fargo, Bank of 
        America, Truist, PNC, Citi, U.S. Bank, and JP Morgan 
        Chase, requesting they provide details of the impacts 
        of the inaccurate Equifax credit scores on their 
        customers, including the number of customers who were 
        denied loans or paid more for credit based on the use 
        of inaccurate scores, and the type of restitution each 
        of the banks will provide those impacted customers.
    Payments System. The Full Committee held five separate 
hearings examining payment systems and related consumer 
protections.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the work of prudential 
        regulators, including the Fed, which has regulatory 
        authority with respect to debit interchange fees and 
        operates various payment systems.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the work of 
        prudential regulators, including the Fed, which has 
        regulatory authority with respect to debit interchange 
        fees and operates various payment systems.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi annual report.
    The Subcommittee on National Security, International 
Development and Monetary Policy held two hearings on payment 
systems.
           ``The Promises and Perils of Central Bank 
        Digital Currencies,'' July 27, 2021: This hearing 
        examined the pros and cons of central bank digital 
        currencies (CBDCs), including the status of foreign 
        countries developing their own CBDCs and the benefits 
        and challenges of the Fed developing and deploying a 
        U.S. CBDC.
           ``Under the Radar: Alternative Payment 
        Systems and the National Security Impacts of Their 
        Growth,'' September 20, 2022: This hearing focused on 
        how non-Western cross-border payments systems are 
        developing, perhaps to challenge U.S. dollar primacy 
        and economic tools such as sanctions.
    The Task Force on Financial Technology held one hearing 
examining digital wallets and the role of technology in the 
payments system.
           ``What's in Your Digital Wallet? A Review of 
        Recent Trends in Mobile Banking and Payments,'' April 
        28, 2022: This hearing focused on examining trends in 
        mobile banking and payments, the current landscape of 
        digital wallets, and their impact on users.
    The Committee considered the following legislation to 
expand consumer protections relating to fraudulently induced 
payment scams.
           H.R. ___, ``Protecting Consumers From 
        Payment Scams Act,'' which would update the Electronic 
        Fund Transfer Act to close gaps and clarify ambiguities 
        when consumers are defrauded into sending money by 
        covered payment apps. The bill would, among other 
        things, protect consumers from liability when they are 
        defrauded into initiating a transfer; eliminate EFTA's 
        exemption for bank wire transfers; and clarify when 
        EFTA's error resolution duties apply.
    Credit and other Payment Cards. The Full Committee held 
five separate hearings examining credit and other payment 
cards.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the work of prudential 
        regulators, including the Fed, which has regulatory 
        authority with respect to debit interchange fees and 
        operates various payment systems.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the work of 
        prudential regulators, including the Fed, which has 
        regulatory authority with respect to debit interchange 
        fees and operates various payment systems.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi annual report.
    Money Services Businesses, Remittances, and De-risking. The 
Full Committee held three separate hearings examining money 
services businesses, remittances, and de-risking.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross-border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Task Force on Financial Technology held one hearing 
examining mobile payments, including relating to remittance 
transfers.
           ``What's in Your Digital Wallet? A Review of 
        Recent Trends in Mobile Banking and Payments,'' April 
        28, 2022: This hearing focused on examining trends in 
        mobile banking and payments, the current landscape of 
        digital wallets, and their impact on users.
    The Committee considered the following legislation to 
address money services businesses, remittances, and de-risking:
           H.R. 1996, the Secure and Fair Enforcement 
        Banking Act (SAFE Banking Act), introduced by 
        Representative Ed Perlmutter, which would provide a 
        safe harbor to depository and other financial 
        institutions to provide banking products and services 
        to State-licensed cannabis businesses and their service 
        providers.
           H.R. 8797, the ``Caribbean Stakeholders 
        Engagement Act,'' introduced by Representative Waters: 
        this bill would require the Secretary of the Treasury 
        to consult with affected financial institutions and 
        governments of the Caribbean region when developing the 
        strategy on financial services de-risking required 
        under that law.
    Members of the Committee also participated in a 
congressional delegation, led by Chairwoman Waters in August 
2022. The delegation traveled to the Caribbean to join nearly a 
dozen regional heads of state, industry, and other stakeholders 
in the Bridgetown, Barbados ``Caribbean Financial Access 
Roundtable,'' co-hosted by Chairwoman Waters and the Honourable 
Mia Amor Mottley, Q.C., M.P., the Prime Minister of Barbados. 
The delegation also explored issues related to Haiti and 
digital assets during the trip.
    Financial Education. The Full Committee held three separate 
hearings examining consumer protection issues, including ways 
to promote financial education.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Committee considered the following legislation to 
address topic:
           H.R. 8880, ``Multilingual Financial Literacy 
        Act,'' introduced by Representative S. Garcia, which 
        would require the Financial Literacy and Education 
        Commission (FLEC) to carry out a study on the impact of 
        language barriers to financial health and issue a 
        report with recommendations on how to address these 
        barriers to offer better financial inclusion for 
        individuals with limited English proficiency, as well 
        as require FLEC to coordinate and promote efforts of 
        Federal agencies to make financial literacy and 
        education resources available in at least eight of the 
        most commonly spoken languages in the United States.
    Cannabis Banking. The Consumer Protection and Financial 
Institution Subcommittee held one hearing exploring challenges 
cannabis businesses face in accessing banking products and 
services.
           ``Small Businesses, Big Impact: Ensuring 
        Small and Minority-Owned Businesses Share in the 
        Economic Recovery,'' February 17, 2022: This hearing 
        focused on a range of challenges small and diverse-
        owned businesses face in accessing financial products 
        and services, including cannabis businesses.
    The Committee considered the following legislation to 
provide access to banking products and services for cannabis 
businesses.
           H.R.1996, the Secure and Fair Enforcement 
        Banking Act (SAFE Banking Act), introduced by 
        Representative Ed Perlmutter, which would provide a 
        safe harbor to depository and other financial 
        institutions to provide banking products and services 
        to State-licensed cannabis businesses and their service 
        providers.
    Climate Risk. The Full Committee held three separate 
hearings examining financial risks posed by climate change.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking and 
        to ensure safety and soundness in the financial system, 
        including with respect to financial risks posed by 
        climate change.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: the 
        hearing considered FSOC's recent annual report, and 
        various systemic risks, such as those relating to 
        climate change.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking and to ensure safety and soundness in the 
        financial system, including with respect to financial 
        risks posed by climate change.
    The Subcommittee on Consumer Protection and Financial 
Institutions held one hearing examining climate-related 
financial risks.
           ``Addressing Climate as a Systemic Risk: The 
        Need to Build Resilience within Our Banking and 
        Financial System,'' June 30, 2021: this hearing 
        explored the risks posed by climate change to financial 
        stability.
    The Subcommittee on Investor Protection, Entrepreneurship 
and Capital Markets held one hearing that examined climate 
change issues from an investor protection standpoint.
           ``Climate Change and Social Responsibility: 
        Helping Corporate Boards and Investors Make Decisions 
        for a Sustainable World,'' February 25, 2021: This 
        hearing explored how corporations are considering and 
        disclosing information and risks relating to climate 
        change.
    The Subcommittee on Housing, Community Development and 
Insurance held one hearing examining the impact of climate 
change in housing.
           ``Built to Last: Examining Housing 
        Resilience in the Face of Climate Change,'' May 4, 
        2021: this hearing considered policy proposals to 
        promote housing resilience in relation to climate 
        change.
    The Committee considered the following legislation to 
address climate-related financial risks:
           H.R. 1549, ``Addressing Climate Financial 
        Risk Act,'' introduced by Representative Casten, which 
        would among other things establish the Climate Risk 
        Advisory Committee to consult with the FSOC regarding a 
        report on the impact of climate risk on U.S. financial 
        stability and require federal banking regulators to 
        include climate risk in their supervisory guidance;
           H.R. 3571, the ``Climate Change Financial 
        Risk Act,'' introduced by Representative Sean Casten, 
        which would require FSOC to establish a committee to 
        assist it in identifying risks and responding to 
        threats to the financial system as a result of climate 
        change. It would also require the Fed to develop 
        financial risk analyses relating to climate change for 
        certain large banks and nonbank financial companies.
           H.R. ___, ``Climate Crisis Financial 
        Stability Act,'' which would among other things direct 
        the federal banking agencies to integrate the risks of 
        climate change into risk weighted capital requirements 
        and apply a capital surcharge on banks with over $100 
        billion in assets based on the bank's financed GHG 
        emissions.

                            Monetary Policy

    The Federal Reserve System. The Full Committee held six 
hearings examining the Fed's monetary policy.
           ``Monetary Policy and the State of the 
        Economy,'' February 24, 2021: This hearing focused on 
        the Fed's response to the COVID-19 pandemic, CARES Act 
        Emergency Lending Facilities, economic recovery and the 
        Fed's new monetary policy framework, the role of the 
        Fed and Monetary Policy in racial wealth gaps and 
        inequality, and climate change as a financial stability 
        risk.
           ``Monetary Policy and the State of the 
        Economy,'' July 14, 2021: This hearing focused on 
        macroeconomic trends and labor market conditions, 
        financial stability and climate risks, bank mergers, 
        real time payments and Central Bank Digital Currencies, 
        and bank capital, leverage, and stress testing.
           ``Monetary Policy and the State of the 
        Economy,'' March 2, 2022: This hearing focused on 
        inflation, trading activity by Fed officials, Central 
        Bank Digital Currency, and financial stability and 
        climate risks.
           ``The Inflation Equation: Corporate 
        Profiteering, Supply Chain Bottlenecks, and COVID-19,'' 
        March 8, 2022: This hearing focused on the primary 
        causes of inflation trends, monetary policy, pandemic 
        relief, and labor market conditions and economic 
        growth.
           ``Monetary Policy and the State of the 
        Economy,'' June 23, 2022: This hearing focused on 
        inflation, financial stability, Central Bank Digital 
        Currency and payment systems, and Federal Reserve 
        diversity and inclusion.
           ``Boom and Bust: The Need for Bold 
        Investments in Fair and Affordable Housing to Combat 
        Inflation,'' December 1, 2022: This hearing focused on 
        high housing costs, inflation in the economy and in 
        housing, monetary policy, and efforts to reduce 
        inflation and address housing costs.
    The National Security, International Development and 
Monetary Policy Subcommittee held 1 separate hearings examining 
the Federal Reserve System.
           ``Lending in a Crisis: Reviewing the Federal 
        Reserve's Emergency Lending Powers During the Pandemic 
        and Examining Proposals to Address Future Economic 
        Crises,'' September 23, 2021: This hearing focused on 
        Section 13(3) of the Federal Reserve Act, the Secondary 
        Market Corporate Credit Facility, the Municipal 
        Liquidity Facility, the Main Street Lending Program, 
        and the impact and criticism of the Fed's emergency 
        lending facilities.
    The Committee considered the following legislation to 
address how the Federal Reserve Board carries out its duties to 
further elimination of racial and economic disparities:
           H.R. 2543, the ``Federal Reserve Racial and 
        Economic Equity Act'' introduced by Chairwoman Maxine 
        Waters, which would require the Federal Reserve Board 
        to carry out its duties in a manner that supports the 
        elimination of racial and ethnic disparities in 
        employment, income, wealth, and access to affordable 
        credit.
    Members of the Committee also sent the following letter 
regarding monetary policy.
           On November 4, 2022, Chairwoman Maxine 
        Waters sent a letter to Federal Reserve Chair Jerome 
        Powell urging Chair Powell to consider the significant 
        pain that rate increases may inflict on families across 
        the country.
    The Economy and its Impact on Living Standards. The Full 
Committee held two separate hearings examining inflation.
           ``The Inflation Equation: Corporate 
        Profiteering, Supply Chain Bottlenecks, and COVID-19,'' 
        March 8, 2022: This hearing focused on the primary 
        causes of inflation trends, monetary policy, pandemic 
        relief, and labor market conditions and economic 
        growth.
           ``Boom and Bust: The Need for Bold 
        Investments in Fair and Affordable Housing to Combat 
        Inflation,'' December 1, 2022: This hearing focused on 
        high housing costs, inflation in the economy and in 
        housing, monetary policy, and efforts to reduce 
        inflation and address housing costs.
    The Committee considered the following legislation to 
address how the Federal Reserve Board carries out its duties to 
further elimination of racial and economic disparities:
           H.R. 2543, the ``Federal Reserve Racial and 
        Economic Equity Act'' introduced by Chairwoman Maxine 
        Waters, which would require the Federal Reserve Board 
        to carry out its duties in a manner that supports the 
        elimination of racial and ethnic disparities in 
        employment, income, wealth, and access to affordable 
        credit.
    Members of the Committee also sent the following letters 
regarding interest rate hikes.
           On November 4, 2022, Chairwoman Maxine 
        Waters sent a letter to Federal Reserve Chair Jerome 
        Powell urging Chair Powell to consider the significant 
        pain that rate increases may inflict on families across 
        the country.
    Coins and Currency. The Full Committee held four hearings 
examining different aspects of coins and currency, including 
central bank digital currencies.
           ``Monetary Policy and the State of the 
        Economy,'' July 14, 2021: This hearing focused on 
        macroeconomic trends and labor market conditions, 
        financial stability and climate risks, bank mergers, 
        real time payments and Central Bank Digital Currencies, 
        and bank capital, leverage, and stress testing.
           ``Monetary Policy and the State of the 
        Economy,'' March 2, 2022: This hearing focused on 
        inflation, trading activity by Fed officials, Central 
        Bank Digital Currency, and financial stability and 
        climate risks.
           ``Digital Assets and the Future of Finance: 
        Examining the Benefits and Risks of a U.S. Central Bank 
        Digital Currency,'' May 26, 2022. This hearing focused 
        on the Fed's research regarding the benefits and 
        challenges of developing a U.S. CBDC.
           ``Monetary Policy and the State of the 
        Economy,'' June 23, 2022: This hearing focused on 
        inflation, financial stability, Central Bank Digital 
        Currency and payment systems, and Federal Reserve 
        diversity and inclusion.
    The Subcommittee on National Security, International 
Development and Monetary Policy held one hearing on CBDCs.
           ``The Promises and Perils of Central Bank 
        Digital Currencies,'' July 27, 2021: This hearing 
        examined the pros and cons of central bank digital 
        currencies (CBDCs), including the status of foreign 
        countries developing their own CBDCs and the benefits 
        and challenges of the Fed developing and deploying a 
        U.S. CBDC.
    The Committee considered the following legislation to 
address Commemorative Coins:
           H.R. 1842, the ``Harriet Tubman Bicentennial 
        Commemorative Coin Act'' introduced by Representative 
        Gregory Meeks, which would direct the Department of the 
        Treasury to issue coins emblematic of the legacy of 
        Harriet Tubman as an abolitionist.
           H.R. 8535, the ``Shirley Chisholm 
        Congressional Gold Medal Act,'' introduced by 
        Representative Lee: this bill would posthumously award 
        a Congressional gold medal to Shirley Chisholm.

                Investor Protection and Entrepreneurship

    Securities and Exchange Commission (SEC). The Full 
Committee held one hearing examining Congressional oversight of 
the SEC.
           ``Oversight of the U.S. Securities and 
        Exchange Commission: Wall Street's Cop Is Finally Back 
        on the Beat,'' October 5, 2021: This hearing focused on 
        a number of topics, including the SEC's 2023 budget 
        request, market structure, digital assets, disclosure 
        requirements, and financial stability.
    The Investor Protection, Entrepreneurship and Capital 
Markets Subcommittee held one hearing examining the SEC's 
Division of Enforcement.
           ``Oversight of the SEC's Division of 
        Enforcement,'' July 19, 2022: This hearing focused on a 
        number of topics, including civil monetary penalty 
        authority, corporate management accountability, bad 
        actor disqualification waivers, administrative law 
        judges, insider trading, and cryptocurrency.
    The Committee considered the following legislation to 
address issues pertaining to the Office of the Investor 
Advocate, corporate governance, diversity disclosures, 
whistleblower reform, SPACs, insider trading, enforcement of 
civil penalties, the PCAOB, and bad actor disqualification:
           H.R. ___, the ``Investor Justice Act of 
        2021,'' which would create a grant program, 
        administered by SEC's Office of Investor Advocate, to 
        support investor advocacy clinics.
           H.R. ___, the ``Empowering States to Protect 
        Seniors from Bad Actors Act,'' which would create a 
        grant program, similar to the one created by the Dodd-
        Frank Act's Sec. 989A, which has not been implemented, 
        housed within the SEC Investor Advocate Office to 
        support and strengthen states' senior investor 
        protection programs.
           H.R. ___, To amend the Securities Exchange 
        Act of 1934 to improve the governance of multiclass 
        stock companies, to require issuers to make annual 
        diversity disclosures, and for other purposes.
           H.R. 2620, the ``Investor Choice Act of 
        2021'' introduced by Representative Foster, which would 
        prohibit financial professionals from requiring their 
        clients into pre-dispute arbitration agreements and ban 
        prohibitions on class action lawsuits in customer 
        contracts that investors often are required to sign in 
        order to receive services from broker-dealers or 
        investment advisers.
           H.R. ___, the ``Whistleblower Protection 
        Reform Act'' introduced by Representative Green, which 
        would protect whistleblowers against retaliation, 
        including individuals (1) who blow the whistle 
        internally; (2) who assist in an SEC investigation of 
        these violations, or (3) make disclosures that are 
        required or protected under any law subject to SEC 
        jurisdiction.
           H.R. ___, To prohibit registered investment 
        advisers, brokers, and registered representatives of 
        brokers from facilitating the transaction of or 
        recommending the securities of certain special purpose 
        acquisition companies, and for other purposes.
           H.R. 2655, the ``Insider Trading Prohibition 
        Act'' introduced by Representative Himes, which would 
        formally codify the prohibition on insider trading, 
        creating a clear, consistent standard for both courts 
        and market participants to follow.
           H.R. ___, the ``Stronger Enforcement of 
        Civil Penalties Act,'' which would increase the SEC's 
        statutory limits on civil monetary penalties; directly 
        link the size of these penalties to the scope of harm 
        and associated investor losses; and substantially raise 
        the financial stakes for repeat securities law 
        violators.
           H.R. ___, the ``PCAOB Enforcement 
        Transparency Act,'' which would make PCAOB hearings and 
        all related notices, orders, and motions, open and 
        available to the public unless otherwise ordered by the 
        Board.
           H.R. ___, the ``Bad Actor Disqualification 
        Act,'' which would amend the Securities Exchange Act of 
        1934 to establish procedures for obtaining a waiver 
        from automatic disqualification provisions in 
        securities law.
    Investor Confidence. The full Committee held three separate 
hearings examining the January 2021 short squeeze by retail 
traders of several stocks such as GameStop, AMC, KOSS, as well 
as other securities these investors identified as heavily 
shorted by hedge funds.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide,'' February 18, 2021: This hearing, the first 
        in a series of three, focused on short selling, short 
        sale rules and laws against fraud and market 
        manipulation, the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act, short squeezes, as well as the 
        gamification of investing and the impact of social 
        media on the investment community.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part II,'' March 17, 2021: This hearing 
        focused on payment for order flow, Form 13-F reporting, 
        short sale disclosures, accelerated settlement, market 
        dominance by participants such as Citadel LLC, as well 
        as the gamification of investing and the impact of 
        social media on the investment community.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part III,'' May 6, 2021: This hearing focused 
        on payment for order flow and best execution, increased 
        transparency, clearing firm risk management and 
        accelerated settlement, market dominance, leverage and 
        systemic risk, as well as the gamification of investing 
        and the impact of social media on the investment 
        community.
    The Investor Protection, Entrepreneurship, and Capital 
Markets Subcommittee held one hearing examining investor 
protections as they pertain to special-purpose acquisition 
companies (SPACs), direct listings and public offerings.
           ``Going Public: SPACs, Direct Listings, 
        Public Offerings, and the Need for Investor 
        Protections,'' May 24, 2021: This hearing focused on 
        investor protections as they pertain to the three types 
        of public securities offerings discussed in the hearing 
        title.
    The Committee considered the following legislation to 
address this topic:
           H.R. ___, to amend the Securities Exchange 
        Act of 1934 to modernize reporting requirements under 
        section 13(f) of such Act, and for other purposes: this 
        discussion draft would shorten the reporting period for 
        13-F disclosures from quarterly to monthly and require 
        the disclosure of short positions and certain 
        derivatives.
           H.R. ___, to amend the Investment Advisers 
        Act of 1940 to limit the exemption provided for family 
        offices from the definition of an investment adviser to 
        those family offices with less than $750,000,000 in 
        assets under management and for other purposes: this 
        discussion draft would limit the use of the family 
        office exemption to offices with $750 million or less 
        in assets under management and prevent persons who are 
        barred or subject to final orders for conduct 
        constituting fraud, manipulation, or deceit from being 
        associated with a family office.
           H.R. ___, to require the Securities and 
        Exchange Commission to carry out a study on the impact 
        of the gamification of online trading platforms, and 
        for other purposes: this discussion draft would require 
        the SEC to conduct a study on the impact of 
        gamification of online trading platforms and issue a 
        report within 180 days to the Office of the Investor 
        Advocate and would require the Investor Advocate to 
        review the report and issue recommendations within 90 
        days.
           H.R. ___, to amend the Securities Act of 
        1934 to establish certain requirements with respect to 
        retail investor options trading, and for other 
        purposes: this discussion draft would require 
        enhancements for retail customers who engage in options 
        trading, including preventing broker dealers from 
        offering retail customers monetary and non-monetary 
        incentives that encourage options trading; and would 
        require broker dealers to disclose to customers the 
        percentage of the broker dealer's retail client 
        accounts that lose money on such options trading.
           H.R. ___, to amend the Securities Exchange 
        Act of 1934 to prohibit payment for order flow: this 
        discussion draft would ban payment for order flow in 
        the form of exchange rebates, as well as payments from 
        market centers to broker dealers.
           H.R. ___, to amend the Securities Exchange 
        Act of 1934 to prohibit trading ahead by market makers, 
        and for other purposes: this discussion draft would 
        statutorily prohibit market makers from ``trading 
        ahead''; require the CEO of each market maker to 
        annually certify that the CEO has performed reasonable 
        due diligence during the reporting period to ensure the 
        market maker has not traded ahead; and would impose 
        personal liability on the market maker's CEO and 
        Directors of the Board if the market maker trades 
        ahead.
           H.R. ___, to amend the Private Securities 
        Litigation Reform Act by redefining the phrase ``blank 
        check company'' in a manner that would include special 
        purpose acquisition companies.
    Standard of Care Owed by Financial Advisers and Broker 
Dealers. The full Committee held two hearings examining, in 
part, the role of broker dealers in the 2021 meme stock event.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide,'' February 18, 2021: This hearing, the first 
        in a series of three, focused on short selling, short 
        sale rules and laws against fraud and market 
        manipulation, the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act, short squeezes, as well as the 
        gamification of investing and the impact of social 
        media on the investment community.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part II,'' March 17, 2021: This hearing 
        focused on payment for order flow, Form 13-F reporting, 
        short sale disclosures, accelerated settlement, market 
        dominance by participants such as Citadel LLC, as well 
        as the gamification of investing and the impact of 
        social media on the investment community.
    The Committee considered the following legislation that 
addresses broker dealers, generally:
           H.R. ___, to amend the Securities Act of 
        1934 to establish certain requirements with respect to 
        retail investor options trading, and for other 
        purposes: this discussion draft would require 
        enhancements for retail customers who engage in options 
        trading, including preventing broker dealers from 
        offering retail customers monetary and non-monetary 
        incentives that encourage options trading; and would 
        require broker dealers to disclose to customers the 
        percentage of the broker dealer's retail client 
        accounts that lose money on such options trading.
           H.R. ___, to amend the Securities Exchange 
        Act of 1934 to prohibit payment for order flow: this 
        discussion draft would ban payment for order flow in 
        the form of exchange rebates, as well as payments from 
        market centers to broker dealers.
    Mandatory Arbitration. The Investor Protection, 
Entrepreneurship and Capital Markets Subcommittee held one 
hearing examining the mandatory arbitration.
           ``Oversight of the U.S. Securities and 
        Exchange Commission: Wall Street's Cop Is Finally Back 
        on the Beat,'' October 5, 2021: This hearing focused on 
        a number of topics, including the SEC's 2023 budget 
        request, market structure, digital assets, disclosure 
        requirements, financial stability, and mandatory 
        arbitration.
    The Committee considered the following legislation that 
addressed mandatory arbitration:
           H.R. 2620, the ``Investor Choice Act of 
        2021'' introduced by Representative Foster, which would 
        broker-dealers and investment advisers from including 
        mandatory arbitration, forum selection restrictions, or 
        bans on class action suits in a customer or client 
        agreement; further, it would also prohibit issuers of 
        securities from mandating arbitration in a shareholder 
        agreement.
    Entrepreneurship. The Diversity and Inclusion Subcommittee 
held six hearings pertaining to entrepreneurship.
           ``Building Opportunity: Addressing the 
        Financial Barriers to Minority and Women-Owned 
        Businesses' Involvement in Infrastructure Projects,'' 
        February 3, 2022: This hearing focused on access to 
        credit and equity issues facing minority- and women-
        owned businesses.
           ``Unfinished Business: A Review of Progress 
        Made and a Plan to Achieve Full Economic Inclusion for 
        Every American,'' December 6, 2022: This hearing 
        summarized the work of the Diversity & Inclusion 
        subcommittee, including the three reports that examined 
        corporate workforce and supplier diversity across the 
        largest banks, insurance companies and investment 
        firms; as well as the need for required diversity and 
        inclusion data disclosures to the OMWIs.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``A Review of Diversity and Inclusion 
        Performance at America's Large Investment Firms,'' 
        December 9. 2021: This hearing focused on findings from 
        the Committee's report examining the diversity and 
        inclusion performance of the largest investment firms.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on topic This hearing 
        focused on findings from the Committee's report 
        examining the diversity and inclusion performance of 
        the largest investment property and casualty and life 
        insurance companies.
           ``By the Numbers: How Diversity Data Can 
        Measure Commitment to Diversity, Equity, and 
        Inclusion,'' March 15, 2021: This hearing focused on 
        the disclosure of data on diversity and inclusion, 
        including workforce recruitment and retention, and how 
        the lack of data prevents proper oversight at the 
        OMWIs.
    The Committee considered the following legislation that 
addressed entrepreneurship:
           H.R. 2689, the ``Minority Business 
        Resiliency Act of 2021'' introduced by Mr. Green, which 
        would, amongst other things, establishes new 
        initiatives to promote economic resiliency for minority 
        businesses, including entrepreneurship education grants 
        for certain institutions of higher education to develop 
        and implement entrepreneurship curricula.
    Corporate Governance. The Investor Protection, 
Entrepreneurship and Capital Markets Subcommittee held two 
hearings examining the topic of ESG disclosures:
           ``Climate Change and Social Responsibility: 
        Helping Corporate Boards and Investors Make Decisions 
        for a Sustainable World,'' February 25, 2021: This 
        hearing focused on climate change and its 
        disproportionate impact on communities of color, its 
        inherent systemic risks, as well as ESG disclosures 
        related to the environmental factor.
           ``E, S, G and W: Examining Private Sector 
        Disclosure of Workforce Management, Investment, and 
        Diversity Data,'' December 6, 2022: This hearing 
        focused on disclosures related to companies' 
        workforces, including but not limited to diversity 
        data.
    The Committee considered the following legislation to 
address the topic of ESG disclosures:
           H.R. ___, the ``ESG Disclosure 
        Simplification Act of 2021'' introduced by 
        Representative Vargas, which would establish new 
        disclosure requirements regarding ESG metrics and 
        creates a Sustainable Finance Advisory Committee within 
        the SEC.
           H.R. 1087, the ``Shareholder Political 
        Transparency Act of 2021'' introduced by Representative 
        Foster, which would require public companies to submit 
        quarterly reports to both the SEC and investors 
        detailing the amount, date, and nature of the company's 
        expenditures for political activities and other related 
        information.
           H.R. ___, the ``Disclosure of Tax Havens and 
        Offshoring Act'' introduced by Representative Axne, 
        which would require public companies to disclose (in 
        their 10-Qs and 10-Ks) their total pre-tax profits, and 
        total amounts paid in State, Federal, and foreign 
        taxes, and would also require companies to disclose a 
        number of specific tax-related items for each of its 
        subsidiaries, as well as on a consolidated basis, such 
        as total accrued tax expenses, stated capital, and 
        total accumulated earnings.
           H.R. ___, the ``Climate Risk Disclosure 
        Act'' introduced by Representative Casten, which would 
        require public companies to disclose in their annual 
        reports information relating to the financial and 
        business risks associated with climate change, and 
        would also require the SEC to establish, in 
        consultation with other relevant Federal agencies, 
        climate-related risk disclosure metrics and guidance, 
        which will be industry-specific, and will require 
        companies to make both quantitative and qualitative 
        disclosures.
           H.R. ___, the ``Greater Accountability in 
        Pay Act'' introduced by Representative Velazquez, which 
        would require public companies to disclose the pay 
        raise percentage of its executives and the pay raise 
        percentage of its median employee over the past year 
        and compare each to the rate of inflation, and would 
        require public companies to disclose the ration between 
        the two pay raise percentages.
           H.R. ___, the ``Improving Corporate 
        Governance Through Diversity Act of 2021'' introduced 
        by Representative Meeks, which would require public 
        companies to disclose racial, ethnic, and gender 
        compositions of their boards of directors and executive 
        officers, and veteran status, and would also require 
        covered companies to disclose any plan to promote 
        diversity and requires the Securities and Exchange 
        Commission to establish a Diversity Advisory Group.
           H.R. ___, the ``Paris Climate Agreement 
        Disclosure Act'' introduced by Representative 
        Velazquez, which would require covered issuers to 
        disclose the steps they are taking to be in compliance 
        with the requirements set forth in the Paris Climate 
        Agreement, including whether the issuer has set or 
        committee to achieve targets that are a balance between 
        greenhouse gas emissions and removals at a pace 
        consistent with limiting global warming to below 2 
        degrees Celsius.
           H.R. ___, the ``Oil and Minerals Corruption 
        Prevention Act'' introduced by Representative Sherman, 
        which would direct the SEC to reissue its December 2016 
        final rule requiring SEC-registered resource extraction 
        issuers to disclose payments made to U.S. and foreign 
        governments for the commercial development of oil, 
        natural gas, or minerals.
    Executive Compensation. The Investor Protection, 
Entrepreneurship and Capital Markets Subcommittee held one 
hearing examining the topic of executive compensation, in part:
           ``Climate Change and Social Responsibility: 
        Helping Corporate Boards and Investors Make Decisions 
        for a Sustainable World,'' February 25, 2021: This 
        hearing focused on climate change and its 
        disproportionate impact on communities of color, its 
        inherent systemic risks, as well as ESG disclosures 
        pertaining to climate change and governance-related 
        items such as executive compensation.
    The Committee considered the following legislation that 
addressed executive compensation:
           H.R. 1187, the ``Corporate Governance 
        Improvement and Investor Protection Act'' introduced by 
        Representative Vargas, which would require publicly 
        traded companies to periodically disclose information 
        related to, amongst other things, compensation 
        information regarding executive officers.
           H.R. 1188, the ``Greater Accountability in 
        Pay Act of 2021'' introduced by Representative 
        Velazquez, which would require specified issuers of 
        securities to disclose compensation information 
        regarding executive officers.
    Capital Formation in Private and Public Markets. The 
Investor Protection, Entrepreneurship and Capital Markets 
Subcommittee held three separate hearings examining capital 
formation in private and public markets:
           ``Going Public: SPACs, Direct Listings, 
        Public Offerings, and the Need for Investor 
        Protections,'' May 24, 2021: This hearing focused on 
        the topics listed in the hearing name.
           ``Taking Stock of China, Inc.: Examining 
        Risks to Investors and the U.S. Posed by Foreign 
        Issuers in U.S. Markets,'' October 26, 2021: This 
        hearing focused on, amongst other topics, investment 
        vehicles used by China-based companies such as variable 
        interest entities, foreign regulatory activity and 
        ownership, the U.S.'s regulatory response to China-
        based investment, as well as systemic risks.
           ``Investing in our Rivals: Examining U.S. 
        Capital Flows to Foreign Rivals and Adversaries Around 
        the World,'' November 15, 2022: This hearing focused on 
        U.S. investor exposure to Russian and Chinese 
        investment products, both in public markets as well as 
        in the private marketplace under the exempt offerings 
        regime. It also addressed the prevalence of Russian 
        oligarchs investing in unregistered private funds as a 
        means to evade sanctions.
    The Committee considered the following legislation to 
address the topic:
           H.R. ___, which would amend the Private 
        Securities Litigation Reform Act by redefining the 
        phrase ``blank check company'' in a manner that would 
        include special purpose acquisition companies.
           H.R. 6285, the ``Accelerating Holding 
        Foreign Companies Accountable Act'' introduced by 
        Representative Sherman, which would shorten the time 
        period in the Holding Foreign Companies Accountable Act 
        from three years to two years for foreign companies to 
        comply with PCAOB audits or face delisting from U.S. 
        exchanges.
           H.R. 2072, the ``Uyghur Forced Labor 
        Disclosure Act'' introduced by Representatives Wexton 
        and Sherman, which would require issuers of securities 
        to publicly disclose their activities related to 
        China's Xinjiang Uyghur Autonomous Region and whether 
        any of their goods or materials are from forced labor 
        camps.
           H.R. ___, the ``Foreign Adversary Corporate 
        Transparency (FACT) Act'' introduced by Representative 
        Sherman, which would require Russia and China-based 
        issuers of securities which fulfill certain exemptions 
        from registration with the Securities and Exchange 
        Commission (SEC) to submit basic information to the SEC 
        regarding the issuer.
           H.R. ___, the ``Private Fund Investor 
        Disclosure Act,'' which would direct the SEC to issue 
        regulations to require all private fund advisers 
        subject to Form PF filing requirements to include in 
        those filings, beneficial owners of the fund identified 
        on a country-by-country basis and the origin of 
        invested funds on a country-by-country basis.
           H.R. ___, which would require the disclosure 
        of certain information by issuers of exempt offerings 
        above a certain threshold and would also require the 
        SEC to report to Congress summarized information 
        relating exempt offering issuances by entities that are 
        domiciled in People's Republic of China or entities 
        that predominantly invest in entities domiciled 
        therein.
            H.R. ___, the ``Private Securities 
        Transparency and Reform Act,'' which would require 
        issuers offering securities under Rule 506(b) or 506(c) 
        to file a Form D with the SEC before either (1) the 
        first sale of securities, or (2) the commencement of 
        general solicitation. Further, the bill would require 
        issuers to file a closing amendment within 90 days 
        after the offering is completed with certain 
        information, including the total size of the offering, 
        the number of investors participating, and fee amounts.
           H.R. ___, the ``Index Fund Investor 
        Protection Act'' introduced by Representative Sherman, 
        which would prohibit certain low-cost investment 
        products, such as mutual funds and exchange-traded 
        funds, as well as the Thrift Savings Fund from holding 
        the securities of issuers from foreign jurisdictions in 
        which the PCAOB is unable to conduct inspections of 
        PCAOB-registered auditors.
    Members of the Committee also sent the following letter 
regarding policies related to investment in public and private 
markets.
           On March 24, 2022, Chairwoman Maxine Waters 
        sent a letter to industry associations regarding the 
        actions that America's financial institutions and 
        businesses had taken to end their relationships and 
        engagements in Russia and with businesses that support 
        the Russian government, following sanctions related 
        that country's unprovoked invasion of Ukraine.

                            Capital Markets

    Self-Regulatory Organizations (SROs). The Investor 
Protection, Entrepreneurship and Capital Markets Subcommittee 
held two hearings examining stock exchanges:
           ``Oversight of America's Stock Exchanges: 
        Examining Their Role in Our Economy,'' March 30, 2022: 
        This hearing focused on exchanges as self-regulatory 
        organizations, exchange liability limits, national 
        market system plan governance, market data, SRO rule 
        filings, and exchange rebates.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part III,'' May 6, 2021: This hearing focused 
        on regulation of capital markets, which included 
        witnesses from Financial Industry Regulatory Authority 
        (FINRA), which is the broker-dealers' self-regulatory 
        organization, and Depository Trust & Clearing 
        Corporation (DTCC). The hearing explored payment for 
        order flow and best execution, increased transparency, 
        clearing firm risk management and accelerated 
        settlement, market dominance, leverage and systemic 
        risk, as well as the gamification of investing and the 
        impact of social media on the investment community.
    The Committee considered the following legislation to 
address issues inherent to SROs:
           H.R. 4865, the ``Registration for Index-
        Linked Annuities Act'' introduced by Representative 
        Adams, which would require the SEC to create a new form 
        for the registration of index-linked annuities to 
        ensure that a purchaser can make a knowledgeable 
        decision.
           H.R. 5795, the ``Main Street Growth Act'' 
        introduced by Representative Emmer, which would allow 
        for the registration of national venture securities 
        exchanges for the purpose of trading the securities of 
        certain small companies, such as startups and emerging 
        growth companies.
           H.R. ___, the ``Securities Exchange Reform 
        Act of 2022'' introduced by Representative Sherman, 
        which would clarify existing law to establish that a 
        National Securities Exchange liable when acting in a 
        commercial capacity.
           H.R. ___, which would amend the Securities 
        Exchange Act of 1934 to add certain requirements for 
        the filing and approval of proposed rule changes by 
        self-regulatory organizations, and would also require 
        exchange SRO filings related to fees to go through the 
        regular approval process, and only be effective upon an 
        SEC order approving them.
           H.R. ___, which would also amend the 
        Securities Exchange Act of 1934 to add certain 
        requirements for the filing and approval of proposed 
        rule changes by self-regulatory organizations, but as 
        an alternative approach, would require exchanges to 
        provide advance notice to the Commission and the public 
        of any proposed rule so that participants may both 
        raise concerns with the filings and adequately prepare 
        for changes; additionally, exchanges would be limited 
        in the frequency with which they make filings that are 
        immediately effective, and the exchanges would not be 
        permitted to implement a fee retroactively.
           H.R. ___, which would amend the Securities 
        Exchange Act of 1934 to improve the governance of 
        multiclass stock companies by establishing minimum 
        listing standards for the stock exchanges that list new 
        companies that have multiple classes of stock with 
        unequal voting right; this discussion draft would not 
        apply to any existing public companies and would also 
        require newly listed companies that choose to have 
        multi-class stock structures to also include a seven 
        year sunset provision for that multi-class stock 
        structure, eventually leading to ``one share, one 
        vote.''
           H.R. ___, the ``Free-market Accountability 
        through Investor Rights Act of 2022'' (FAIR Act), which 
        would prohibit multi-class share structures at certain 
        large issuers (with annual revenues above $75 billion) 
        that are subject to bad actor disqualifications under 
        the securities laws or have been fined in the preceding 
        five years more than $5 billion in aggregate amount.
           H.R. ___, which would amend the Securities 
        Exchange Act of 1934 to require the SEC to promulgate a 
        rule prohibiting or limiting the use of tiered rebate 
        payments by national securities exchanges, and would 
        require the SEC to engage in rulemaking to prohibit or 
        limit the use of rebate payments by exchanges that are 
        tiered based on the aggregate volume of transactions 
        effected by such members.
    Hedge Funds and Private Pools of Capital. The Full 
Committee held one hearing that touched in part on the role of 
hedge funds in the 2021 meme stock event.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide,'' February 18, 2021: This hearing, the first 
        in a series of three, focused in part on the role of 
        Citadel LLC and Melvin Capital in the 2021 meme stock 
        short-squeeze event involving Robinhood Markets.
    The Investor Protection, Entrepreneurship and Capital 
Markets Subcommittee held two hearings which both touched on 
private pools of capital:
           ``Taking Stock of China, Inc.: Examining 
        Risks to Investors and the U.S. Posed by Foreign 
        Issuers in U.S. Markets,'' October 26, 2021: This 
        hearing focused on, amongst other topics, investment 
        vehicles used by China-based companies such as variable 
        interest entities, foreign regulatory activity and 
        ownership, the U.S.'s regulatory response to China-
        based investment, as well as systemic risks.
           ``Investing in our Rivals: Examining U.S. 
        Capital Flows to Foreign Rivals and Adversaries Around 
        the World,'' November 15, 2022: This hearing focused on 
        U.S. investor exposure to Russian and Chinese 
        investment products, both in public markets as well as 
        in the private marketplace under the exempt offerings 
        regime. It also addressed the prevalence of Russian 
        oligarchs investing in unregistered private funds as a 
        means to evade sanctions.
    The Oversight and Investigations Subcommittee held one 
hearing examining the rental housing crisis.
           ``Where Have All the Houses Gone? Private 
        Equity, Single Family Rentals, and America's 
        Neighborhoods,'' June 28, 2022: This hearing focused on 
        the results of a Committee survey of the five largest 
        owners and operators of single family rental homes in 
        the United States and the effects that their growing 
        role in the housing market has had in limiting the 
        supply of affordable housing, perpetuating barriers to 
        homeownership, and exacerbating the increasing costs of 
        rentership in America.
    The Committee considered the following legislation to 
address hedge funds and private pools of capital:
           H.R. ___, the ``Private Fund Investor 
        Disclosure Act,'' which would direct the SEC to issue 
        regulations to require all private fund advisers 
        subject to Form PF filing requirements to include in 
        those filings, beneficial owners of the fund identified 
        on a country-by-country basis and the origin of 
        invested funds on a country-by-country basis.
           H.R.___, which would require the disclosure 
        of certain information by issuers of exempt offerings 
        above a certain threshold and would also require the 
        SEC to report to Congress summarized information 
        relating exempt offering issuances by entities that are 
        domiciled in People's Republic of China or entities 
        that predominantly invest in entities domiciled 
        therein.
           H.R.___, the ``Index Fund Investor 
        Protection Act'' introduced by Representative Sherman, 
        which would prohibit certain low-cost investment 
        products, such as mutual funds and exchange-traded 
        funds, as well as the Thrift Savings Fund from holding 
        the securities of issuers from foreign jurisdictions in 
        which the PCAOB is unable to conduct inspections of 
        PCAOB-registered auditors.
    Investment Companies. The Subcommittee on Diversity and 
Inclusion held one hearing that examined investment companies. 
``A Review of Diversity and Inclusion Performance at America's 
Large Investment Firms'' December 9, 2021: This hearing 
examined investment firms from a D&I perspective. The Committee 
considered the following legislation to address investment 
advisors:
           H.R. 5913, the ``Protecting Investors from 
        Excessive SPACs Fees Act of 2021'' introduced by 
        Representative Sherman, which would limit the 
        transaction or recommendation by registered investment 
        advisers to specified investors of securities belonging 
        to certain special purpose acquisition companies and 
        brokers.
           H.R. 5598, the ``Access to Small Business 
        Investor Capital Act'' introduced by Representative 
        Sherman, which would allow a registered investment 
        company to exclude from the calculation of acquired 
        fund fees and expenses those incurred indirectly from 
        investment in a business development company.
    Credit Rating Agencies. The Investor Protection, 
Entrepreneurship and Capital Markets Subcommittee held two 
separate hearings examining credit rating agencies.
           ``Bond Rating Agencies: Examining the 
        ``Nationally Recognized'' Statistical Rating 
        Organizations,'' July 21, 2021: This hearing focused 
        the role of credit ratings in the financial crisis as 
        well as Dodd-Frank reforms aimed to tackle the issues 
        that contributed to inflated credit ratings for 
        structured finance instruments.
           ``A Notch Above? Examining the Bond Rating 
        Industry,'' May 11, 2022: This hearing focused 
        primarily on an S&P proposal regarding its methodology 
        for analyzing the risk-based capital adequacy of 
        insurers and reinsurers, as well as the bond rating 
        agencies reaction to Russia's invasion of Ukraine.
    The Committee considered the following legislation to 
address Congressional oversight of credit rating agencies:
           H.R. ___, the ``Commercial Credit Rating 
        Reform Act'' introduced by Representative Sherman, 
        which would require the establishment of a credit 
        rating agency assignment board within the jurisdiction 
        of the SEC, which would be responsible for assigning 
        NRSROs to provide ratings for corporate issuers and 
        issuers of new asset-backed securities.
           H.R. ___, the ``Uniform Treatment of NRSROs 
        Act'' introduced by Representative Dean, which would 
        provide for the uniform treatment of nationally 
        recognized statistical rating organizations registered 
        with the SEC under any future emergency credit 
        facilities established by the Federal Reserve.
           H.R. ___, the ``Transparency and 
        Accountability of NRSROs Act,'' which would require the 
        SEC to specifically name the credit rating agencies 
        that have significant shortcomings and compliance 
        failures in SEC's annual examination reports.
           H.R. ___, the ``Restoring NRSRO 
        Accountability Act,'' which would nullify a no-action 
        letter issued by the Division of Corporate Finance of 
        the SEC, which stated that the Division would not 
        recommend an enforcement action if ABS issuers did not 
        include the NRSRO credit rating in a registration 
        statement after obtaining and filing the NRSRO's 
        consent to include such rating. This consent would hold 
        the NRSRO liable as an expert under Section 11 of the 
        Securities Act for material misstatements or omissions 
        relating to its rating.
           H.R. ___, the ``Accurate Climate Risk 
        Information Act,'' which would require the SEC to adopt 
        rules within 180 days requiring NRSROs to adopt, 
        integrate, and disclose written supervisory policies 
        that govern how the NRSRO considers climate-related 
        risks in their credit ratings.
           H.R. ___, the ``Notching Prohibition Act,'' 
        which would prohibit the practice of notching by SEC 
        registered NRSROs, which is when an NRSRO refuses to 
        rate securities issued by an asset pool or as part of 
        any asset-backed or mortgage-backed transaction because 
        it has not rated all the underlying portfolio assets.
           H.R. ___, the ``No More Ratings For Russia 
        and Belarus Act,'' which would prohibit all of SEC 
        registered bond rating agencies from engaging in any 
        new--and would require such agencies to terminate all--
        business with any Russia- or Belarus-related entities, 
        including the governments (or any political subdivision 
        or instrumentality) of Russian Federation and the 
        Republic of Belarus.
           H.R. ___, the ``Credit Rating Liability 
        Act,'' which would impose liability on NRSROs which 
        commit gross negligence in issuing a credit rating 
        which it consents to being referred to in an SEC 
        registration statement.
           H.R. ___, the ``Credit Rating 
        Standardization Act,'' which would direct the SEC to 
        issue rules to require all NRSROs to use a uniform set 
        of credit ratings for each of the six categories of 
        credit ratings recognized under the Securities and 
        Exchange Act.
    Financial Accounting and Auditing. The Investor Protection, 
Entrepreneurship and Capital Markets Subcommittee held one 
hearing examining the SEC's Division of Enforcement which 
touched in part on auditing.
           ``Oversight of the SEC's Division of 
        Enforcement,'' July 19, 2022: This hearing focused on a 
        number of topics, including civil monetary penalty 
        authority, corporate management accountability, bad 
        actor disqualification waivers, administrative law 
        judges, insider trading, and cryptocurrency, and the 
        PCAOB.
    The Committee considered the following legislation to 
address accounting:
           H.R. ___, the ``PCAOB Enforcement 
        Transparency Act,'' which would make PCAOB hearings and 
        all related notices, orders, and motions, open and 
        available to the public unless otherwise ordered by the 
        Board.
    Cybersecurity. The Fintech Task Force held a separate 
hearing examining consumer data, cybersecurity, and financial 
services.
           ``Preserving the Right of Consumers to 
        Access Personal Financial Data,'' September 21, 2021: 
        This hearing focused on addressing how the generation 
        and use of so much customer data has altered the 
        typical consumer financial experience, including how 
        users expect to receive and institutions provide 
        financial services.
    The Artificial Intelligence Task Force held four separate 
hearings examining privacy and ethical AI.
           ``I Am Who I Say I Am: Verifying Identity 
        while Preserving Privacy in the Digital Age,'' July 16, 
        2021: This hearing explored how advances in technology, 
        and artificial intelligence (AI), in particular, could 
        create a secure digital identity and the critical 
        infrastructure that supports it. The hearing identified 
        the central role of digital identification in an ever-
        modernizing economy in which identify fraud is 
        increasingly common.
           ``Preserving the Right of Consumers to 
        Access Personal Financial Data,'' September 21, 2021: 
        This hearing focused on addressing how the generation 
        and use of so much customer data has altered the 
        typical consumer financial experience, including how 
        users expect to receive and institutions provide 
        financial services.
           ``Beyond I, Robot: Ethics, Artificial 
        Intelligence, and the Digital Age,'' October 13, 2021: 
        This hearing addressed the promise and perils of 
        artificial intelligence, evaluating the frameworks for 
        developing and monitoring AI.
           ``Keeping Up with the Codes--Using AI for 
        Effective RegTech,'' May 13, 2022: This hearing 
        examined the use of AI and ML in regulation and 
        supervision, by financial institutions (RegTech) and 
        regulators (SupTech).
    The Consumer Protection and Financial Institutions 
Subcommittee held one separate hearing examining cybersecurity 
and consumer data protection.
           ``Cyber Threats, Consumer Data, and the 
        Financial System,'' November 3, 2021: This hearing 
        focused on, among other things, the technology 
        capabilities and partnerships of, as well as the 
        cybersecurity threats faced by, financial institutions, 
        including MDIs and CDFIs.
    The Committee considered the following legislation to 
address cybersecurity:
           H.R. 7022, the ``Strengthening Cybersecurity 
        for the Financial Sector Act of 2022,'' introduced by 
        Representative Foster: this bill would provide for the 
        regulation and supervision of certain financial 
        organizations and service providers.
    Fixed income markets. The Investor Protection, 
Entrepreneurship and Capital Markets Subcommittee held one 
hearing examining the topic of fixed income markets.
           ``The End of LIBOR: Transitioning to an 
        Alternative Interest Rate Calculation for Mortgages, 
        Student Loans, Business Borrowing, and Other Financial 
        Products,'' April 15, 2021: This hearing focused on the 
        transition away from the London Interbank Offered Rate, 
        a daily reported reference rate at which large banks 
        indicate that they can borrow short-term wholesale 
        funds from one another on an unsecured basis.
    The Committee considered the following legislation to 
address fixed income markets:
           H.R. ___, the Adjustable Interest Rate 
        (LIBOR) Act of 2021: would establish a process for 
        certain financial contracts that reference LIBOR and do 
        not contain sufficient language that would allow them 
        to continue to function as originally intended after 
        LIBOR is discontinued, to instead reference SOFR or an 
        appropriately adjusted form of SOFR without the need to 
        be amended or subject to litigation; this bill also 
        directs the Federal Reserve Board to issue regulations 
        regarding the appropriate SOFR or adjusted SOFR 
        replacement reference interest rate that should be used 
        for specific categories of LIBOR-based contracts that 
        fall within the scope of the legislation.
    Derivatives Markets. The Investor Protection, 
Entrepreneurship and Capital Markets Subcommittee held one 
hearing examining the derivatives market in part.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part III,'' May 6, 2021: This hearing focused 
        on payment for order flow and best execution, increased 
        transparency, clearing firm risk management and 
        accelerated settlement, market dominance, leverage and 
        systemic risk, as well as the gamification of investing 
        and the impact of social media on the investment 
        community.
    The Committee considered the following legislation to 
address derivatives:
           H.R. 4618, the ``Short Sale Transparency and 
        Market Fairness Act'' introduced by Chairwoman Waters, 
        which would modify securities reporting requirements 
        applicable to certain institutional investment managers 
        to specifically (1) reduce the reporting window for 
        asset managers responsible for more than $100 million 
        in assets to file ownership reports with the Securities 
        and Exchange Commission (SEC) from 45 days to 10 days 
        after the end of each month, and (2) expand 
        requirements to include direct or indirect derivative 
        positions or interest (e.g., short positions) in such 
        reports.
    Equity and options markets. The Full Committee held three 
separate hearings examining the topic of equity and options 
markets.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide,'' February 18, 2021: This hearing, the first 
        in a series of three, focused on short selling, short 
        sale rules and laws against fraud and market 
        manipulation, the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act, short squeezes, as well as the 
        gamification of investing and the impact of social 
        media on the investment community.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part II,'' March 17, 2021: This hearing 
        focused on payment for order flow, Form 13-F reporting, 
        short sale disclosures, accelerated settlement, market 
        dominance by participants such as Citadel LLC, as well 
        as the gamification of investing and the impact of 
        social media on the investment community.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part III,'' May 6, 2021: This hearing focused 
        on payment for order flow and best execution, increased 
        transparency, clearing firm risk management and 
        accelerated settlement, market dominance, leverage and 
        systemic risk, as well as the gamification of investing 
        and the impact of social media on the investment 
        community.
    The Committee considered the following legislation to 
address equity and options markets:
           H.R. ___, to require the Securities and 
        Exchange Commission to carry out a study on the impact 
        of the gamification of online trading platforms, and 
        for other purposes: this discussion draft would require 
        the SEC to conduct a study on the impact of 
        gamification of online trading platforms and issue a 
        report within 180 days to the Office of the Investor 
        Advocate and would require the Investor Advocate to 
        review the report and issue recommendations within 90 
        days.
           H.R. ___, to amend the Securities Act of 
        1934 to establish certain requirements with respect to 
        retail investor options trading, and for other 
        purposes: this discussion draft would require 
        enhancements for retail customers who engage in options 
        trading, including preventing broker dealers from 
        offering retail customers monetary and non-monetary 
        incentives that encourage options trading; and would 
        require broker dealers to disclose to customers the 
        percentage of the broker dealer's retail client 
        accounts that lose money on such options trading.
           H.R. ___, to amend the Securities Exchange 
        Act of 1934 to prohibit payment for order flow: this 
        discussion draft would ban payment for order flow in 
        the form of exchange rebates, as well as payments from 
        market centers to broker dealers.
           H.R. ___, to amend the Securities Exchange 
        Act of 1934 to prohibit trading ahead by market makers, 
        and for other purposes: this discussion draft would 
        statutorily prohibit market makers from ``trading 
        ahead''; require the CEO of each market maker to 
        annually certify that the CEO has performed reasonable 
        due diligence during the reporting period to ensure the 
        market maker has not traded ahead; and would impose 
        personal liability on the market maker's CEO and 
        Directors of the Board if the market maker trades 
        ahead.
    Trade Policy Impact. The Investor Protection, 
Entrepreneurship and Capital Markets Subcommittee held two 
hearings examining the topic of trade policy in the capital 
markets context.
           ``Going Public: SPACs, Direct Listings, 
        Public Offerings, and the Need for Investor 
        Protections,'' May 24, 2021: This hearing focused on 
        the topics listed in the hearing name.
           ``Taking Stock of China, Inc.: Examining 
        Risks to Investors and the U.S. Posed by Foreign 
        Issuers in U.S. Markets,'' October 26, 2021: This 
        hearing focused on, amongst other topics, investment 
        vehicles used by China-based companies such as variable 
        interest entities, foreign regulatory activity and 
        ownership, the U.S.'s regulatory response to China-
        based investment, as well as systemic risks.
           ``Investing in our Rivals: Examining U.S. 
        Capital Flows to Foreign Rivals and Adversaries Around 
        the World,'' November 15, 2022: This hearing focused on 
        U.S. investor exposure to Russian and Chinese 
        investment products, both in public markets as well as 
        in the private marketplace under the exempt offerings 
        regime. It also addressed the prevalence of Russian 
        oligarchs investing in unregistered private funds as a 
        means to evade sanctions.
    The Committee considered the following legislation to 
address topic:
           H.R. 6285, the ``Accelerating Holding 
        Foreign Companies Accountable Act'' introduced by 
        Representative Sherman, which would shorten the time 
        period in the Holding Foreign Companies Accountable Act 
        from three years to two years for foreign companies to 
        comply with PCAOB audits or face delisting from U.S. 
        exchanges.
           H.R. 2072, the ``Uyghur Forced Labor 
        Disclosure Act'' introduced by Representatives Wexton 
        and Sherman, which would require issuers of securities 
        to publicly disclose their activities related to 
        China's Xinjiang Uyghur Autonomous Region and whether 
        any of their goods or materials are from forced labor 
        camps.
           H.R. ___, the ``Foreign Adversary Corporate 
        Transparency (FACT) Act'' introduced by Representative 
        Sherman, which would require Russia and China-based 
        issuers of securities which fulfill certain exemptions 
        from registration with the Securities and Exchange 
        Commission (SEC) to submit basic information to the SEC 
        regarding the issuer.
           H.R. ___, the ``Private Fund Investor 
        Disclosure Act,'' which would direct the SEC to issue 
        regulations to require all private fund advisers 
        subject to Form PF filing requirements to include in 
        those filings, beneficial owners of the fund identified 
        on a country-by-country basis and the origin of 
        invested funds on a country-by-country basis.
           H.R. ___, which would require the disclosure 
        of certain information by issuers of exempt offerings 
        above a certain threshold and would also require the 
        SEC to report to Congress summarized information 
        relating exempt offering issuances by entities that are 
        domiciled in People's Republic of China or entities 
        that predominantly invest in entities domiciled 
        therein.
           H.R. ___, the ``Index Fund Investor 
        Protection Act'' introduced by Representative Sherman, 
        which would prohibit certain low-cost investment 
        products, such as mutual funds and exchange-traded 
        funds, as well as the Thrift Savings Fund from holding 
        the securities of issuers from foreign jurisdictions in 
        which the PCAOB is unable to conduct inspections of 
        PCAOB-registered auditors.

                           National Security

    Office of Terrorism and Financial Intelligence (TFI). The 
Full Committee held five hearings examining the operations and 
organizational structure of TFI and its component parts 
including OFAC and FinCEN, monitoring government strategies and 
programs to combat terrorist financing, money laundering, and 
other financial crimes, both domestic and international.
           ``Digital Assets and the Future of Finance: 
        The President's Working Group on Financial Markets' 
        Report on Stablecoins,'' February 8, 2022: the hearing 
        examined the financial stability and other types of 
        risks posed by payment stablecoins, and potential 
        policy solutions.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
           ``Digital Assets and the Future of Finance: 
        Examining the Benefits and Risks of a U.S. Central Bank 
        Digital Currency,'' May 26, 2022. This hearing focused 
        on the Fed's research regarding the benefits and 
        challenges of developing a U.S. CBDC.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross-border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
    The National Security, International Development, and 
Monetary Policy Subcommittee held four separate hearings 
examining issues related to the activities of TFI.
           ``Ending Exploitation: How the Financial 
        System Can Work to Dismantle the Business of Human 
        Trafficking,'' March 25, 2021: This hearing focused on 
        the finances of bad actors and illicit networks engaged 
        in human trafficking.
           ``Schemes and Subversion: How Bad Actors and 
        Foreign Governments Undermine and Evade Sanctions 
        Regimes,'' June 16, 2021: This hearing focused on 
        methods used by malign state actors and other targets 
        to evade U.S. economic and trade sanctions.
           ``From Timber to Tungsten: How the 
        Exploitation of Natural Resources Funds Rogue 
        Organizations and Regimes,'' November 4, 2021: This 
        hearing focused on the finances of bad actors and 
        illicit networks engaged in natural resources 
        trafficking.
           ``Under the Radar: Alternative Payment 
        Systems and the National Security Impacts of Their 
        Growth,'' September 20, 2022: This hearing focused on 
        how non-Western cross-border payments systems are 
        developing, perhaps to challenge U.S. dollar primacy 
        and economic tools such as sanctions.
    The Committee considered the following legislation to 
address issues related to the activities of TFI.
           H.R. 808, the ``End Banking for Human 
        Traffickers Act of 2021,'' introduced by Representative 
        Fitzpatrick and Representative Maloney: this bill would 
        establish requirements related to the use of financial 
        transactions in human trafficking, including mandating 
        the Financial Institutions Examination Council to 
        review procedures to improve the capability of 
        specified programs to target financial transactions 
        relating to severe forms of human trafficking.
           H.R. 2072, the ``Uyghur Forced Labor 
        Disclosure Act'' introduced by Reps. Wexton and 
        Sherman, which would require issuers of securities to 
        publicly disclose their activities related to China's 
        Xinjiang Uyghur Autonomous Region and whether any of 
        their goods or materials are from forced labor camps.
           H.R. 2332, the ``Debt Bondage Repair Act,'' 
        introduced by Representative McHenry, was passed into 
        law through the National Defense Authorization Act of 
        Fiscal Year 2022. It prohibits a consumer reporting 
        agency from reporting adverse credit information about 
        a consumer that is the result of severe human 
        trafficking or sex trafficking.
           H.R. 3094, the ``Treasury Human Trafficking 
        Coordinator Act,'' introduced by Representative Dean: 
        this bill would direct the Department of the Treasury 
        to designate a Coordinator for Human Trafficking Issues 
        to coordinate, promote, and support Treasury's work 
        related to human trafficking.
           H.R. 4115, the ``Restoring Unfairly Impaired 
        Credit and Protecting Consumers Act,'' introduced by 
        Representative Tlaib: this bill would revise 
        requirements regarding consumer credit information 
        included by a consumer reporting agency on a credit 
        report, including by requiring removal of adverse 
        information that resulted from specified fraudulent 
        lending activity, shortening the time period adverse 
        information stays on reports, and limiting the 
        inclusion of certain medical debt on reports.
           H.R. 5320, the ``FinCEN Exchange Improvement 
        Act,'' introduced by Representative Torres: this bill 
        would allow relevant private sector entities to 
        participate in the Financial Crimes Enforcement Network 
        (FinCEN) Exchange, a voluntary information-sharing 
        partnership between law enforcement agencies, national 
        security agencies, financial institutions, and FinCEN 
        to prevent money laundering, terrorism financing, 
        organized crime, and other financial crimes. It was 
        passed into law as a provision of H.R. 4350, the 
        National Defense Authorization Act for Fiscal Year 
        2022.
           H.R. 5457, the ``Afghan Threat Finance Cell 
        Establishment Act of 2021,'' introduced by 
        Representative Lynch: this bill would direct the 
        President to establish the interagency Afghan Threat 
        Finance Cell.
           H.R. 5764, ``Gun Violence Prevention Through 
        Financial Intelligence Act,'' introduced by 
        Representative Dean: this bill directs FinCEN to 
        collect information from financial institutions and 
        develop an advisory regarding the reporting of 
        suspicious transactions related to gun violence.
    Specifically, FinCEN must gather information and develop an 
advisory related to (1) the procurement of firearms and firearm 
accessories for the purpose of carrying out lone-wolf acts of 
terror, and (2) how the U.S. firearms market can be exploited 
to facilitate gun violence.
           H.R. 6328, ``FinCEN Exam Delegation Study 
        Act'','' introduced by Representative Cleaver: this 
        bill directed the Government Accountability Office to 
        conduct a study into the efficacy of the delegations of 
        FinCEN's Bank Secrecy Act examination authority. 
        Initially a discussion draft considered at the June 16, 
        2021, hearing entitled ``Schemes and Subversion: How 
        Bad Actors and Foreign Governments Undermine and Evade 
        Sanctions Regimes,'' it was passed into law as a 
        provision of H.R. 4350, the National Defense 
        Authorization Act for Fiscal Year 2022.
           H.R. 6343, the ``Illicit Finance 
        Improvements Act,'' introduced by Representative Lynch: 
        This bill, which became law via inclusion in the 
        National Defense Authorization Act of Fiscal Year 2022, 
        expanded the scope of a supervisory interagency team 
        focused on countering illicit finance, including 
        proliferation finance and sanctions evasion.
           H.R. 6388, the ``Combating Terrorist and 
        Other Illicit Financing Act,'' introduced by 
        Representative San Nicolas, would revise provisions 
        related to the National Strategy for Combating 
        Terrorist and Other Illicit Financing developed by the 
        Department of the Treasury. Additionally, tribal and 
        territorial entities must be (1) eligible for grant 
        programs to combat financial crime, and (2) included in 
        efforts to combat illicit finance. Provisions from this 
        bill became law through the National Defense 
        Authorization Act of Fiscal Year 2022.
           H.R. 6477, ``Combating Wildlife Trafficking 
        and Proceeds Study Act,'' introduced by Representative 
        Dean: this bill, which was considered as a discussion 
        draft at the November 4, 2021, hearing entitled 
        ``Timber to Tungsten: How the Exploitation of Natural 
        Resources Funds Rogue Organizations and Regimes,'' 
        would require the Secretary of the Treasury and the 
        Secretary of the Interior to carry out a study with 
        respect to wildlife trafficking financing and proceeds.
           H.R. 7080, ``Nowhere to Hide Oligarchs 
        Assets Act,'' introduced by Representative Waters: 
        would assist the Financial Crimes Enforcement Network 
        (FinCEN), the nation's Financial Intelligence Unit, by 
        removing the geographic limitation to its Geographic 
        Targeting Order (GTO) authority to allow an order to 
        cover the entire United States, and by expanding the 
        agency's authority to enquire about foreign financial 
        agencies to include foreign nonfinancial trades or 
        businesses.
           H.R. 7128, ``Special Measures to Fight 
        Modern Threats Act,'' introduced by Representative 
        Himes: this bill would amend FinCEN's existing Special 
        Measures authorities to target Primary Money Laundering 
        Concerns that operate outside of the traditional 
        banking sector.
           H.R. 7195, ``To provide for certain 
        whistleblower incentives and protections,'' introduced 
        by Representative Adams: this bill, which became law 
        through the National Defense Authorization Act of 
        Fiscal Year 2023, modifies the structure of FinCEN's 
        whistleblower fund, ensuring that individuals who 
        provide information that leads to successful 
        enforcement are able to receive awards as intended by 
        AMLA.
           H.R. 7734, ``Timely Delivery of Bank Secrecy 
        Act Reports Act,'' introduced by Representative Waters: 
        this bill establishes a time frame for the production 
        of Bank Secrecy Reports to Congress by requiring that 
        the Secretary of the Treasury, upon request by Congress 
        or Congressional Committees, to deliver BSA reports to 
        Congress not later than the end of a 30-day period 
        beginning on the date such information is requested by 
        Congress. Similarly, it would require that a financial 
        institution, upon a subpoena by Congress, to deliver 
        BSA reports to Congress not later than the return date 
        specified for such reports in the subpoena.
           H.R. 8797, the ``Caribbean Stakeholders 
        Engagement Act,'' introduced by Representative Waters: 
        this bill would require the Secretary of the Treasury 
        to consult with affected financial institutions and 
        governments of the Caribbean region when developing the 
        strategy on financial services de-risking required 
        under that law.
           H.R. 8798, the ``The INCSR Improvement 
        Act,'' introduced by Representative Waters: this bill 
        would require the reporting of certain money-
        laundering-related improvements in the annual 
        International Narcotics Control Strategy Report.
           H.R. 9133, the ``Freezing Assets of 
        Suspected Terrorists and Enemy Recruits (FASTER) Act of 
        2022,'' introduced by Representative Gottheimer: this 
        bill, which was considered as a discussion draft at the 
        February 25, 2021, hearing entitled, ``Dollars Against 
        Democracy: Domestic Terrorist Financing in the 
        Aftermath of Insurrection,'' would require financial 
        institutions to freeze the assets of individuals 
        arrested under suspicion of participating in domestic 
        terrorism or providing material support to terrorists, 
        to establish a national clearinghouse for information 
        on incidents of homegrown ``lone wolf'' terrorism, 
        domestic terrorism, and persons providing material 
        support to terrorists.
           H.R. ___, ``Expressing concern about the 
        rise in illicit mining and trafficking of gold in Latin 
        America and the pervasive problem that such mining 
        poses for the security, stability, and environment of 
        the region:'' this discussion draft was a resolution 
        opposing natural resources exploitation in Latin 
        America.
           H.R. ___, ``Afghanistan Illicit Finance 
        Act:'' this discussion draft required FinCEN to 
        determine whether reasonable grounds exist for 
        concluding whether there are foreign financial 
        institutions that constitute a primary money laundering 
        concern in connection with Afghan illicit finance.
           H.R. ___, the ``Fraud and Terrorism 
        Education Act:'' this discussion draft would require 
        the Director of the Financial Crimes Enforcement 
        Network to produce and distribute educational materials 
        designed to help Federal, State, local and Tribal 
        agencies responsible for distributing public benefits 
        to understand, identify, and avoid fraud, particularly 
        fraud that involves terrorist financing schemes.
           H.R. ___, ``Transparency and Accountability 
        in Service Providers Act:'' this discussion draft, 
        initially considered at the April 28, 2022, hearing 
        entitled, ``Oversight of the Financial Crimes 
        Enforcement Network,'' was later included in the first 
        House-passed National Defense Authorization Act of 
        Fiscal Year 2023 as ``the ENABLERS Act.'' It requires 
        FinCEN to apply Bank Secrecy Act compliance to those 
        who provide certain ``gatekeepers'' services to 
        corporations, trusts, and other entities, facilitating 
        the opaque, complex structures used by bad actors to 
        avoid scrutiny.
           H.R. ___, ``Survivor Safety Banking Act:'' 
        this discussion draft ensures that survivors of 
        intimate partner violence have safe access to their 
        financial accounts by providing guidance on training 
        for financial institution employees to identify and 
        report suspected economic abuse and immunity to 
        financial institutions from civil or administrative 
        proceedings if a trained, covered employee reports 
        suspected economic abuse of a customer or potential 
        customer. It additionally requires financial 
        institutions to report suspected economic abuse to 
        covered agencies for data analysis and publication--not 
        for law enforcement purposes.
           H. Res. ___, ``Expressing the sense of the 
        House of Representatives that the Under Secretary of 
        Terrorism Finance and Intelligence or a Treasury 
        official in a senior financial role be included in the 
        Deputies Committee of the National Security Council:'' 
        this discussion draft advocated for a financial crimes 
        and intelligence lead at the White House.
           H.R. ___, the ``Money Mule Education Act:'' 
        this discussion draft would raise awareness among 
        potential targets of bad actors who would recruit and 
        employ money mules to facilitate their financial 
        crimes.
           H.R. ___, ``Domestic Terrorism Financing 
        Study Act:'' this discussion draft required the 
        Government Accountability Office to examine the 
        financing of domestic terrorism and extremism, 
        including connections with foreign organizations. It 
        was initiated as a study through a request sent by 
        Representative Waters, Representative Thompson, 
        Representative Gottheimer, and Senator Brown.
           H.R. ___, ``OFAC Exchange Act:'' this 
        discussion draft advocated for the establishment of a 
        standing public-private partnership mechanism at the 
        Office of Foreign Assets Control, similar to the FinCEN 
        Exchange at the Financial Crimes Enforcement Network.
           H.R. ___, the ``OFAC Fusion Center Act:'' 
        this discussion draft would require the Secretary of 
        the Treasury to establish an Interagency Sanctions 
        Evasion Fusion Center.
           H.R. ___, the ``Organ Trafficking and SARs 
        Form Act:'' this discussion draft would require FinCEN 
        to issue guidance specifying that organ trafficking is 
        considered a type of human trafficking for purposes of 
        filing a Suspicious Activity Report.
           H.R. ___, the ``AML Examiners Academy Act:'' 
        this discussion draft would establish an Examiners 
        Academy to train examiners on the requirements of the 
        Bank Secrecy Act and anti-money laundering laws.
    Members of the Committee also sent the following letters 
regarding policies related to the activities of TFI.
           On March 3, 2022, Representative Maxine 
        Waters sent a letter to the Government Accountability 
        Office requesting that it undertake a study on the 
        financing of domestic terrorism and extremism. She was 
        joined by Chairman Brown and Representative Gottheimer, 
        and in June 2022, Chairman Thompson joined as a 
        requesting Member.
    Financial Crimes Enforcement Network (FinCEN). The Full 
Committee held three separate hearings examining the activities 
related to FinCEN and financial crimes.
           ``Digital Assets and the Future of Finance: 
        The President's Working Group on Financial Markets' 
        Report on Stablecoins,'' February 8, 2022: the hearing 
        examined the financial stability and other types of 
        risks posed by payment stablecoins, and potential 
        policy solutions.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross-border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
    The National Security, International Development, and 
Monetary Policy Subcommittee held four separate hearings 
examining activities related to FinCEN and financial crimes.
           ``Dollars Against Democracy: Domestic 
        Terrorist Financing in the Aftermath of Insurrection,'' 
        February 25, 2021: This hearing focused on the finances 
        of domestic terrorists and extremists, including the 
        financing methods used by those engaged in the violent 
        attack on the U.S. Capitol on January 6, 2021.
           ``Ending Exploitation: How the Financial 
        System Can Work to Dismantle the Business of Human 
        Trafficking,'' March 25, 2021: This hearing focused on 
        the finances of bad actors and illicit networks engaged 
        in human trafficking.
           ``Schemes and Subversion: How Bad Actors and 
        Foreign Governments Undermine and Evade Sanctions 
        Regimes,'' June 16, 2021: This hearing focused on 
        methods used by malign state actors and other targets 
        to evade U.S. economic and trade sanctions.
           ``From Timber to Tungsten: How the 
        Exploitation of Natural Resources Funds Rogue 
        Organizations and Regimes,'' November 4, 2021: This 
        hearing focused on the finances of bad actors and 
        illicit networks engaged in natural resources 
        trafficking.
    The Committee considered the following legislation to 
address activities related to FinCEN and financial crimes:
           H.R. 5320, the ``FinCEN Exchange Improvement 
        Act,'' introduced by Representative Torres: this bill 
        would allow relevant private sector entities to 
        participate in the Financial Crimes Enforcement Network 
        (FinCEN) Exchange, a voluntary information-sharing 
        partnership between law enforcement agencies, national 
        security agencies, financial institutions, and FinCEN 
        to prevent money laundering, terrorism financing, 
        organized crime, and other financial crimes. It was 
        passed into law as a provision of H.R. 4350, the 
        National Defense Authorization Act for Fiscal Year 
        2022.
           H.R. 5764, ``Gun Violence Prevention Through 
        Financial Intelligence Act,'' introduced by 
        Representative Dean: this bill directs FinCEN to 
        collect information from financial institutions and 
        develop an advisory regarding the reporting of 
        suspicious transactions related to gun violence. 
        Specifically, FinCEN must gather information and 
        develop an advisory related to (1) the procurement of 
        firearms and firearm accessories for the purpose of 
        carrying out lone-wolf acts of terror, and (2) how the 
        U.S. firearms market can be exploited to facilitate gun 
        violence.
           H.R. 6328, ``FinCEN Exam Delegation Study 
        Act,'' introduced by Representative Cleaver: this bill 
        directed the Government Accountability Office to 
        conduct a study into the efficacy of the delegations of 
        FinCEN's Bank Secrecy Act examination authority. 
        Initially a discussion draft considered at the June 16, 
        2021, hearing entitled ``Schemes and Subversion: How 
        Bad Actors and Foreign Governments Undermine and Evade 
        Sanctions Regimes,'' it was passed into law as a 
        provision of H.R. 4350, the National Defense 
        Authorization Act for Fiscal Year 2022.
           H.R. 6343, the ``Illicit Finance 
        Improvements Act,'' introduced by Representative Lynch: 
        This bill, which became law via inclusion in the 
        National Defense Authorization Act of Fiscal Year 2022, 
        expanded the scope of a supervisory interagency team 
        focused on countering illicit finance, including 
        proliferation finance and sanctions evasion.
           H.R. 7080, ``Nowhere to Hide Oligarchs 
        Assets Act,'' introduced by Representative Waters: 
        would assist the Financial Crimes Enforcement Network 
        (FinCEN), the nation's Financial Intelligence Unit, by 
        removing the geographic limitation to its Geographic 
        Targeting Order (GTO) authority to allow an order to 
        cover the entire United States, and by expanding the 
        agency's authority to enquire about foreign financial 
        agencies to include foreign nonfinancial trades or 
        businesses.
           H.R. 7128, ``Special Measures to Fight 
        Modern Threats Act,'' introduced by Representative 
        Himes: this bill would amend FinCEN's existing Special 
        Measures authorities to target Primary Money Laundering 
        Concerns that operate outside of the traditional 
        banking sector.
           H.R. 7195, ``To provide for certain 
        whistleblower incentives and protections,'' introduced 
        by Representative Adams: this bill, which became law 
        through the National Defense Authorization Act of 
        Fiscal Year 2023, modifies the structure of FinCEN's 
        whistleblower fund, ensuring that individuals who 
        provide information that leads to successful 
        enforcement are able to receive awards as intended by 
        AMLA.
           H.R. 7734, ``Timely Delivery of Bank Secrecy 
        Act Reports Act,'' introduced by Representative Waters: 
        this bill establishes a time frame for the production 
        of Bank Secrecy Reports to Congress by requiring that 
        the Secretary of the Treasury, upon request by Congress 
        or Congressional Committees, to deliver BSA reports to 
        Congress not later than the end of a 30-day period 
        beginning on the date such information is requested by 
        Congress. Similarly, it would require that a financial 
        institution, upon a subpoena by Congress, to deliver 
        BSA reports to Congress not later than the return date 
        specified for such reports in the subpoena.
           H.R. 9133, the ``Freezing Assets of 
        Suspected Terrorists and Enemy Recruits (FASTER) Act of 
        2022,'' introduced by Representative Gottheimer: this 
        bill, which was considered as a discussion draft at the 
        February 25, 2021, hearing entitled, ``Dollars Against 
        Democracy: Domestic Terrorist Financing in the 
        Aftermath of Insurrection,'' would require financial 
        institutions to freeze the assets of individuals 
        arrested under suspicion of participating in domestic 
        terrorism or providing material support to terrorists, 
        to establish a national clearinghouse for information 
        on incidents of homegrown ``lone wolf'' terrorism, 
        domestic terrorism, and persons providing material 
        support to terrorists.
           H.R. ___, ``Afghanistan Illicit Finance 
        Act:'' this discussion draft required FinCEN to 
        determine whether reasonable grounds exist for 
        concluding whether there are foreign financial 
        institutions that constitute a primary money laundering 
        concern in connection with Afghan illicit finance.
           H.R. ___, the ``Fraud and Terrorism 
        Education Act:'' this discussion draft would require 
        the Director of the Financial Crimes Enforcement 
        Network to produce and distribute educational materials 
        designed to help Federal, State, local and Tribal 
        agencies responsible for distributing public benefits 
        to understand, identify, and avoid fraud, particularly 
        fraud that involves terrorist financing schemes.
           H.R. ___, ``Transparency and Accountability 
        in Service Providers Act:'' this discussion draft, 
        initially considered at the April 28, 2022, hearing 
        entitled, ``Oversight of the Financial Crimes 
        Enforcement Network,'' was later included in the first 
        House-passed National Defense Authorization Act of 
        Fiscal Year 2023 as ``the ENABLERS Act.'' It requires 
        FinCEN to apply Bank Secrecy Act compliance to those 
        who provide certain ``gatekeepers'' services to 
        corporations, trusts, and other entities, facilitating 
        the opaque, complex structures used by bad actors to 
        avoid scrutiny.
           H.R. ___, the ``Money Mule Education Act:'' 
        this discussion draft would raise awareness among 
        potential targets of bad actors who would recruit and 
        employ money mules to facilitate their financial 
        crimes.
           H.R. ___, the ``Organ Trafficking and SARs 
        Form Act:'' this discussion draft would require FinCEN 
        to issue guidance specifying that organ trafficking is 
        considered a type of human trafficking for purposes of 
        filing a Suspicious Activity Report.
    Members of the Committee also sent the following letters to 
address activities related to FinCEN and financial crimes.
           On April 12, 2021, Chairwoman Waters sent a 
        letter to Chairman Quigley and Ranking Member Womack of 
        the House Appropriations Subcommittee on Financial 
        Services and General Government to support the full 
        funding of FinCEN's budget request, in light of its 
        needs to implement the Anti-Money Laundering Act of 
        2020 and the Corporate Transparency Act of 2020.
           On May 5, 2021, Chairwoman Maxine Waters 
        sent a letter to Secretary Yellen and FinCEN Acting 
        Director Michael Mosier as a comment submission to the 
        Advanced Notice of Proposed Rulemaking (ANPRM) on the 
        beneficial ownership reporting rule, the first of three 
        rulemakings to implement the Corporate Transparency Act 
        of 2020. She was joined on the letter by Chairwoman 
        Maloney and Chairman Brown.
           On November 3, 2021, Chairwoman Maxine 
        Waters sent a letter to Secretary Yellen regarding 
        concerns about the speed of the implementation of the 
        Corporate Transparency Act of 2020. She was joined on 
        the letter by Chairwoman Maloney and Chairman Brown.
           On February 7, 2022, Chairwoman Maxine 
        Waters sent a letter to Secretary Yellen and FinCEN 
        Acting Director Himamauli Das as a comment submission 
        to the Notice of Proposed Rulemaking (NPRM) on the 
        beneficial ownership reporting rule, the first of three 
        rulemakings to implement the Corporate Transparency Act 
        of 2020. She was joined on the letter by Chairwoman 
        Maloney and Chairman Brown.
    Members participated in several classified briefings on 
central bank digital currency; on the activities of the 
Treasury Department, related to sanctions and the Russian 
invasion of Ukraine; and on the activities of the Financial 
Crimes Enforcement Network. Staff also held multiple bipartisan 
briefings with the U.S.-China Economic and Security Review 
Commission on its annual reports; with industry experts on 
blockchain analytics and applications for fighting financial 
crime; with Global Financial Integrity on its report on Chinese 
Illicit Financial Flows; on Treasury's Reports on Digital 
Assets; with academic experts on policy recommendations 
regarding the ongoing tensions between Ukraine and Russia; and 
with industry and academic experts on the release of the 
Pandora Papers and efforts to combat the disclosed exploitation 
by enhancing financial transparency.
    Office of Foreign Assets Control (OFAC) and Sanctions. The 
Full Committee held three separate hearings examining 
activities related to OFAC and sanctions.
           ``Digital Assets and the Future of Finance: 
        The President's Working Group on Financial Markets' 
        Report on Stablecoins,'' February 8, 2022: the hearing 
        examined the financial stability and other types of 
        risks posed by payment stablecoins, and potential 
        policy solutions.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
           ``Digital Assets and the Future of Finance: 
        Examining the Benefits and Risks of a U.S. Central Bank 
        Digital Currency,'' May 26, 2022. This hearing focused 
        on the Fed's research regarding the benefits and 
        challenges of developing a U.S. CBDC.
    The National Security, International Development, and 
Monetary Policy Subcommittee held three separate hearings 
examining activities related to OFAC and sanctions.
           ``Ending Exploitation: How the Financial 
        System Can Work to Dismantle the Business of Human 
        Trafficking,'' March 25, 2021: This hearing focused on 
        the finances of bad actors and illicit networks engaged 
        in human trafficking.
           ``Schemes and Subversion: How Bad Actors and 
        Foreign Governments Undermine and Evade Sanctions 
        Regimes,'' June 16, 2021: This hearing focused on 
        methods used by malign state actors and other targets 
        to evade U.S. economic and trade sanctions.
           ``Under the Radar: Alternative Payment 
        Systems and the National Security Impacts of Their 
        Growth,'' September 20, 2022: This hearing focused on 
        how non-Western cross-border payments systems are 
        developing, perhaps to challenge U.S. dollar primacy 
        and economic tools such as sanctions.
    The Committee considered the following legislation to 
address activities related to OFAC and sanctions:
           H.R. 7195, ``To provide for certain 
        whistleblower incentives and protections,'' introduced 
        by Representative Adams: this bill, which became law 
        through the National Defense Authorization Act of 
        Fiscal Year 2023, modifies the structure of FinCEN's 
        whistleblower fund, ensuring that individuals who 
        provide information that leads to successful 
        enforcement are able to receive awards as intended by 
        AMLA.
           H.R. ___, ``Domestic Terrorism Financing 
        Study Act:'' this discussion draft required the 
        Government Accountability Office to examine the 
        financing of domestic terrorism and extremism, 
        including connections with foreign organizations. It 
        was initiated as a study through a request sent by 
        Representative Waters, Representative Thompson, 
        Representative Gottheimer, and Senator Brown.
           H.R. ___, ``OFAC Exchange Act:'' this 
        discussion draft advocated for the establishment of a 
        standing public-private partnership mechanism at the 
        Office of Foreign Assets Control, similar to the FinCEN 
        Exchange at the Financial Crimes Enforcement Network.
           H.R. ___, the ``OFAC Fusion Center Act:'' 
        this discussion draft would require the Secretary of 
        the Treasury to establish an Interagency Sanctions 
        Evasion Fusion Center.
    Members of the Committee also sent the following letter 
regarding the activities related to OFAC and sanctions.
           On March 24, 2022, Chairwoman Maxine Waters 
        sent a letter to industry associations regarding the 
        actions that America's financial institutions and 
        businesses had taken to end their relationships and 
        engagements in Russia and with businesses that support 
        the Russian government, following sanctions related 
        that country's unprovoked invasion of Ukraine.
    Members participated in several classified briefings on the 
activities of the Treasury Department, related to sanctions and 
the Russian invasion of Ukraine, and on the activities of the 
Financial Crimes Enforcement Network. Staff also held multiple 
bipartisan briefings with the U.S.-China Economic and Security 
Review Commission on its annual reports; with industry experts 
on blockchain analytics and applications for fighting financial 
crime; with Global Financial Integrity on its report on Chinese 
Illicit Financial Flows; on Treasury's Reports on Digital 
Assets; and with academic experts on policy recommendations 
regarding the ongoing tensions between Ukraine and Russia.
    Money Laundering and Terrorist Financing. The Full 
Committee held four separate hearings examining financial 
crimes and methods.
           ``Digital Assets and the Future of Finance: 
        The President's Working Group on Financial Markets' 
        Report on Stablecoins,'' February 8, 2022: the hearing 
        examined the financial stability and other types of 
        risks posed by payment stablecoins, and potential 
        policy solutions.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
           ``Digital Assets and the Future of Finance: 
        Examining the Benefits and Risks of a U.S. Central Bank 
        Digital Currency,'' May 26, 2022. This hearing focused 
        on the Fed's research regarding the benefits and 
        challenges of developing a U.S. CBDC.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross-border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
    The National Security, International Development, and 
Monetary Policy Subcommittee held five separate hearings 
examining financial crimes and methods.
           ``Dollars Against Democracy: Domestic 
        Terrorist Financing in the Aftermath of Insurrection,'' 
        February 25, 2021: This hearing focused on the finances 
        of domestic terrorists and extremists, including the 
        financing methods used by those engaged in the violent 
        attack on the U.S. Capitol on January 6, 2021.
           ``Ending Exploitation: How the Financial 
        System Can Work to Dismantle the Business of Human 
        Trafficking,'' March 25, 2021: This hearing focused on 
        the finances of bad actors and illicit networks engaged 
        in human trafficking.
           ``Schemes and Subversion: How Bad Actors and 
        Foreign Governments Undermine and Evade Sanctions 
        Regimes,'' June 16, 2021: This hearing focused on 
        methods used by malign state actors and other targets 
        to evade U.S. economic and trade sanctions.
           ``From Timber to Tungsten: How the 
        Exploitation of Natural Resources Funds Rogue 
        Organizations and Regimes,'' November 4, 2021: This 
        hearing focused on the finances of bad actors and 
        illicit networks engaged in natural resources 
        trafficking.
           ``Under the Radar: Alternative Payment 
        Systems and the National Security Impacts of Their 
        Growth,'' September 20, 2022: This hearing focused on 
        how non-Western cross-border payments systems are 
        developing, perhaps to challenge U.S. dollar primacy 
        and economic tools such as sanctions.
    The Committee considered the following legislation to 
address financial crimes and methods:
           H.R. 151, ``Preventing Future Pandemics Act 
        of 2021,'' introduced by Representative Quigley: this 
        bill would establish measures to address global public 
        health risks posed by wildlife markets, which are 
        commercial markets that sell or slaughter wildlife for 
        human consumption as food or medicine in communities 
        where alternative nutritional or protein sources are 
        available.
           H.R. 808, the ``End Banking for Human 
        Traffickers Act of 2021,'' introduced by Representative 
        Fitzpatrick and Representative Maloney: this bill would 
        establish requirements related to the use of financial 
        transactions in human trafficking, including mandating 
        the Financial Institutions Examination Council to 
        review procedures to improve the capability of 
        specified programs to target financial transactions 
        relating to severe forms of human trafficking.
           H.R. 3094, the ``Treasury Human Trafficking 
        Coordinator Act,'' introduced by Representative Dean: 
        this bill would direct the Department of the Treasury 
        to designate a Coordinator for Human Trafficking Issues 
        to coordinate, promote, and support Treasury's work 
        related to human trafficking.
           H.R. 5320, the ``FinCEN Exchange Improvement 
        Act,'' introduced by Representative Torres: this bill 
        would allow relevant private sector entities to 
        participate in the Financial Crimes Enforcement Network 
        (FinCEN) Exchange, a voluntary information-sharing 
        partnership between law enforcement agencies, national 
        security agencies, financial institutions, and FinCEN 
        to prevent money laundering, terrorism financing, 
        organized crime, and other financial crimes. It was 
        passed into law as a provision of H.R. 4350, the 
        National Defense Authorization Act for Fiscal Year 
        2022.
           H.R. 5457, the ``Afghan Threat Finance Cell 
        Establishment Act of 2021,'' introduced by 
        Representative Lynch: this bill would direct the 
        President to establish the interagency Afghan Threat 
        Finance Cell.
           H.R. 5764, the ``Gun Violence Prevention 
        Through Financial Intelligence Act,'' introduced by 
        Representative Dean: this bill directs FinCEN to 
        collect information from financial institutions and 
        develop an advisory regarding the reporting of 
        suspicious transactions related to gun violence. 
        Specifically, FinCEN must gather information and 
        develop an advisory related to (1) the procurement of 
        firearms and firearm accessories for the purpose of 
        carrying out lone-wolf acts of terror, and (2) how the 
        U.S. firearms market can be exploited to facilitate gun 
        violence.
           H.R. 6328, the ``FinCEN Exam Delegation 
        Study Act,'' introduced by Representative Cleaver: this 
        bill directed the Government Accountability Office to 
        conduct a study into the efficacy of the delegations of 
        FinCEN's Bank Secrecy Act examination authority. 
        Initially a discussion draft considered at the June 16, 
        2021, hearing entitled ``Schemes and Subversion: How 
        Bad Actors and Foreign Governments Undermine and Evade 
        Sanctions Regimes,'' it was passed into law as a 
        provision of H.R. 4350, the National Defense 
        Authorization Act for Fiscal Year 2022.
           H.R. 6343, the ``Illicit Finance 
        Improvements Act,'' introduced by Representative Lynch: 
        This bill, which became law via inclusion in the 
        National Defense Authorization Act of Fiscal Year 2022, 
        expanded the scope of a supervisory interagency team 
        focused on countering illicit finance, including 
        proliferation finance and sanctions evasion.
           H.R. 6388, the ``Combating Terrorist and 
        Other Illicit Financing Act,'' introduced by 
        Representative San Nicolas, would revise provisions 
        related to the National Strategy for Combating 
        Terrorist and Other Illicit Financing developed by the 
        Department of the Treasury. Additionally, tribal and 
        territorial entities must be (1) eligible for grant 
        programs to combat financial crime, and (2) included in 
        efforts to combat illicit finance. Provisions from this 
        bill became law through the National Defense 
        Authorization Act of Fiscal Year 2022.
           H.R. 6477, the ``Combating Wildlife 
        Trafficking and Proceeds Study Act,'' introduced by 
        Representative Dean: this bill, which was considered as 
        a discussion draft at the November 4, 2021, hearing 
        entitled ``Timber to Tungsten: How the Exploitation of 
        Natural Resources Funds Rogue Organizations and 
        Regimes,'' would require the Secretary of the Treasury 
        and the Secretary of the Interior to carry out a study 
        with respect to wildlife trafficking financing and 
        proceeds.
           H.R. 7080, the ``Nowhere to Hide Oligarchs 
        Assets Act,'' introduced by Representative Waters: 
        would assist the Financial Crimes Enforcement Network 
        (FinCEN), the nation's Financial Intelligence Unit, by 
        removing the geographic limitation to its Geographic 
        Targeting Order (GTO) authority to allow an order to 
        cover the entire United States, and by expanding the 
        agency's authority to enquire about foreign financial 
        agencies to include foreign nonfinancial trades or 
        businesses.
           H.R. 7128, the ``Special Measures to Fight 
        Modern Threats Act,'' introduced by Representative 
        Himes: this bill would amend FinCEN's existing Special 
        Measures authorities to target Primary Money Laundering 
        Concerns that operate outside of the traditional 
        banking sector.
           H.R. 7195, ``To provide for certain 
        whistleblower incentives and protections,'' introduced 
        by Representative Adams: this bill, which became law 
        through the National Defense Authorization Act of 
        Fiscal Year 2023, modifies the structure of FinCEN's 
        whistleblower fund, ensuring that individuals who 
        provide information that leads to successful 
        enforcement are able to receive awards as intended by 
        AMLA.
           H.R. 8797, the ``Caribbean Stakeholders 
        Engagement Act,'' introduced by Representative Waters: 
        this bill would require the Secretary of the Treasury 
        to consult with affected financial institutions and 
        governments of the Caribbean region when developing the 
        strategy on financial services de-risking required 
        under that law.
           H.R. 8798, the ``The INCSR Improvement 
        Act,'' introduced by Representative Waters: this bill 
        would require the reporting of certain money-
        laundering-related improvements in the annual 
        International Narcotics Control Strategy Report.
           H.R. ___, ``Expressing concern about the 
        rise in illicit mining and trafficking of gold in Latin 
        America and the pervasive problem that such mining 
        poses for the security, stability, and environment of 
        the region:'' this discussion draft was a resolution 
        opposing natural resources exploitation in Latin 
        America.
           H.R. ___, the ``Afghanistan Illicit Finance 
        Act:'' this discussion draft required FinCEN to 
        determine whether reasonable grounds exist for 
        concluding whether there are foreign financial 
        institutions that constitute a primary money laundering 
        concern in connection with Afghan illicit finance.
           H.R. ___, the ``Fraud and Terrorism 
        Education Act:'' this discussion draft would require 
        the Director of the Financial Crimes Enforcement 
        Network to produce and distribute educational materials 
        designed to help Federal, State, local and Tribal 
        agencies responsible for distributing public benefits 
        to understand, identify, and avoid fraud, particularly 
        fraud that involves terrorist financing schemes.
           H.R. ___, the ``Transparency and 
        Accountability in Service Providers Act:'' this 
        discussion draft, initially considered at the April 28, 
        2022, hearing entitled, ``Oversight of the Financial 
        Crimes Enforcement Network,'' was later included in the 
        first House-passed National Defense Authorization Act 
        of Fiscal Year 2023 as ``the ENABLERS Act.'' It 
        requires FinCEN to apply Bank Secrecy Act compliance to 
        those who provide certain ``gatekeepers'' services to 
        corporations, trusts, and other entities, facilitating 
        the opaque, complex structures used by bad actors to 
        avoid scrutiny.
           H. Res. ___, ``Expressing the sense of the 
        House of Representatives that the Under Secretary of 
        Terrorism Finance and Intelligence or a Treasury 
        official in a senior financial role be included in the 
        Deputies Committee of the National Security Council:'' 
        this discussion draft advocated for a financial crimes 
        and intelligence lead at the White House.
           H.R. ___, the ``Money Mule Education Act:'' 
        this discussion draft would raise awareness among 
        potential targets of bad actors who would recruit and 
        employ money mules to facilitate their financial 
        crimes.
           H.R. ___, the ``Domestic Terrorism Financing 
        Study Act:'' this discussion draft required the 
        Government Accountability Office to examine the 
        financing of domestic terrorism and extremism, 
        including connections with foreign organizations. It 
        was initiated as a study through a request sent by 
        Representative Waters, Representative Thompson, 
        Representative Gottheimer, and Senator Brown.
           H.R. ___, the ``OFAC Exchange Act:'' this 
        discussion draft advocated for the establishment of a 
        standing public-private partnership mechanism at the 
        Office of Foreign Assets Control, similar to the FinCEN 
        Exchange at the Financial Crimes Enforcement Network.
           H.R. ___, the ``OFAC Fusion Center Act:'' 
        this discussion draft would require the Secretary of 
        the Treasury to establish an Interagency Sanctions 
        Evasion Fusion Center.
           H.R. ___, the ``Organ Trafficking and SARs 
        Form Act:'' this discussion draft would require FinCEN 
        to issue guidance specifying that organ trafficking is 
        considered a type of human trafficking for purposes of 
        filing a Suspicious Activity Report.
           H.R. ___, the ``AML Examiners Academy Act:'' 
        this discussion draft would establish an Examiners 
        Academy to train examiners on the requirements of the 
        Bank Secrecy Act and anti-money laundering laws.
    Members participated in several classified briefings on 
central bank digital currency; on the activities of the 
Treasury Department, related to sanctions and the Russian 
invasion of Ukraine; and on the activities of the Financial 
Crimes Enforcement Network. Staff also held multiple bipartisan 
briefings with industry experts on blockchain analytics and 
applications for fighting financial crime; with Global 
Financial Integrity on its report on Chinese Illicit Financial 
Flows; on Treasury's Reports on Digital Assets; with academic 
experts on policy recommendations regarding the ongoing 
tensions between Ukraine and Russia; and with industry and 
academic experts on the release of the Pandora Papers and 
efforts to combat the disclosed exploitation by enhancing 
financial transparency.
    Counterterrorism Financing Policy. The Full Committee held 
four separate hearings examining policies related to countering 
terrorism financing.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
           ``Digital Assets and the Future of Finance: 
        Examining the Benefits and Risks of a U.S. Central Bank 
        Digital Currency,'' May 26, 2022. This hearing focused 
        on the Fed's research regarding the benefits and 
        challenges of developing a U.S. CBDC.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross-border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
    The National Security, International Development, and 
Monetary Policy Subcommittee held three separate hearings 
examining policies related to countering terrorism financing.
           ``Dollars Against Democracy: Domestic 
        Terrorist Financing in the Aftermath of Insurrection,'' 
        February 25, 2021: This hearing focused on the finances 
        of domestic terrorists and extremists, including the 
        financing methods used by those engaged in the violent 
        attack on the U.S. Capitol on January 6, 2021.
           ``Ending Exploitation: How the Financial 
        System Can Work to Dismantle the Business of Human 
        Trafficking,'' March 25, 2021: This hearing focused on 
        the finances of bad actors and illicit networks engaged 
        in human trafficking.
           ``From Timber to Tungsten: How the 
        Exploitation of Natural Resources Funds Rogue 
        Organizations and Regimes,'' November 4, 2021: This 
        hearing focused on the finances of bad actors and 
        illicit networks engaged in natural resources 
        trafficking.
    The Committee considered the following legislation to 
address policies related to countering terrorism financing:
           H.R. 3094, the ``Treasury Human Trafficking 
        Coordinator Act,'' introduced by Representative Dean: 
        this bill would direct the Department of the Treasury 
        to designate a Coordinator for Human Trafficking Issues 
        to coordinate, promote, and support Treasury's work 
        related to human trafficking.
           H.R. 5320, the ``FinCEN Exchange Improvement 
        Act,'' introduced by Representative Torres: this bill 
        would allow relevant private sector entities to 
        participate in the Financial Crimes Enforcement Network 
        (FinCEN) Exchange, a voluntary information-sharing 
        partnership between law enforcement agencies, national 
        security agencies, financial institutions, and FinCEN 
        to prevent money laundering, terrorism financing, 
        organized crime, and other financial crimes. It was 
        passed into law as a provision of H.R. 4350, the 
        National Defense Authorization Act for Fiscal Year 
        2022.
           H.R. 5457, the ``Afghan Threat Finance Cell 
        Establishment Act of 2021,'' introduced by 
        Representative Lynch: this bill would direct the 
        President to establish the interagency Afghan Threat 
        Finance Cell.
           H.R. 5764, ``Gun Violence Prevention Through 
        Financial Intelligence Act,'' introduced by 
        Representative Dean: this bill directs FinCEN to 
        collect information from financial institutions and 
        develop an advisory regarding the reporting of 
        suspicious transactions related to gun violence. 
        Specifically, FinCEN must gather information and 
        develop an advisory related to (1) the procurement of 
        firearms and firearm accessories for the purpose of 
        carrying out lone-wolf acts of terror, and (2) how the 
        U.S. firearms market can be exploited to facilitate gun 
        violence.
           H.R. 6343, the ``Illicit Finance 
        Improvements Act,'' introduced by Representative Lynch: 
        This bill, which became law via inclusion in the 
        National Defense Authorization Act of Fiscal Year 2022, 
        expanded the scope of a supervisory interagency team 
        focused on countering illicit finance, including 
        proliferation finance and sanctions evasion.
           H.R. 6388, the ``Combating Terrorist and 
        Other Illicit Financing Act,'' introduced by 
        Representative San Nicolas, would revise provisions 
        related to the National Strategy for Combating 
        Terrorist and Other Illicit Financing developed by the 
        Department of the Treasury. Additionally, tribal and 
        territorial entities must be (1) eligible for grant 
        programs to combat financial crime, and (2) included in 
        efforts to combat illicit finance. Provisions from this 
        bill became law through the National Defense 
        Authorization Act of Fiscal Year 2022.
           H.R. 6477, the ``Combating Wildlife 
        Trafficking and Proceeds Study Act,'' introduced by 
        Representative Dean: this bill, which was considered as 
        a discussion draft at the November 4, 2021, hearing 
        entitled ``Timber to Tungsten: How the Exploitation of 
        Natural Resources Funds Rogue Organizations and 
        Regimes,'' would require the Secretary of the Treasury 
        and the Secretary of the Interior to carry out a study 
        with respect to wildlife trafficking financing and 
        proceeds.
           H.R. 7080, the ``Nowhere to Hide Oligarchs 
        Assets Act,'' introduced by Representative Waters: 
        would assist the Financial Crimes Enforcement Network 
        (FinCEN), the nation's Financial Intelligence Unit, by 
        removing the geographic limitation to its Geographic 
        Targeting Order (GTO) authority to allow an order to 
        cover the entire United States, and by expanding the 
        agency's authority to enquire about foreign financial 
        agencies to include foreign nonfinancial trades or 
        businesses.
           H.R. 7128, the ``Special Measures to Fight 
        Modern Threats Act,'' introduced by Representative 
        Himes: this bill would amend FinCEN's existing Special 
        Measures authorities to target Primary Money Laundering 
        Concerns that operate outside of the traditional 
        banking sector.
           H.R. 7195, ``To provide for certain 
        whistleblower incentives and protections,'' introduced 
        by Representative Adams: this bill, which became law 
        through the National Defense Authorization Act of 
        Fiscal Year 2023, modifies the structure of FinCEN's 
        whistleblower fund, ensuring that individuals who 
        provide information that leads to successful 
        enforcement are able to receive awards as intended by 
        AMLA.
           H.R. 9133, the ``Freezing Assets of 
        Suspected Terrorists and Enemy Recruits (FASTER) Act of 
        2022,'' introduced by Representative Gottheimer: this 
        bill, which was considered as a discussion draft at the 
        February 25, 2021, hearing entitled, ``Dollars Against 
        Democracy: Domestic Terrorist Financing in the 
        Aftermath of Insurrection,'' would require financial 
        institutions to freeze the assets of individuals 
        arrested under suspicion of participating in domestic 
        terrorism or providing material support to terrorists, 
        to establish a national clearinghouse for information 
        on incidents of homegrown ``lone wolf'' terrorism, 
        domestic terrorism, and persons providing material 
        support to terrorists.
           H.R. ___, ``Expressing concern about the 
        rise in illicit mining and trafficking of gold in Latin 
        America and the pervasive problem that such mining 
        poses for the security, stability, and environment of 
        the region:'' this discussion draft was a resolution 
        opposing natural resources exploitation in Latin 
        America.
           H.R. ___, ``Afghanistan Illicit Finance 
        Act:'' this discussion draft required FinCEN to 
        determine whether reasonable grounds exist for 
        concluding whether there are foreign financial 
        institutions that constitute a primary money laundering 
        concern in connection with Afghan illicit finance.
           H.R. ___, the ``Fraud and Terrorism 
        Education Act:'' this discussion draft would require 
        the Director of the Financial Crimes Enforcement 
        Network to produce and distribute educational materials 
        designed to help Federal, State, local and Tribal 
        agencies responsible for distributing public benefits 
        to understand, identify, and avoid fraud, particularly 
        fraud that involves terrorist financing schemes.
           H.R. ___, ``Transparency and Accountability 
        in Service Providers Act:'' this discussion draft, 
        initially considered at the April 28, 2022, hearing 
        entitled, ``Oversight of the Financial Crimes 
        Enforcement Network,'' was later included in the first 
        House-passed National Defense Authorization Act of 
        Fiscal Year 2023 as ``the ENABLERS Act.'' It requires 
        FinCEN to apply Bank Secrecy Act compliance to those 
        who provide certain ``gatekeepers'' services to 
        corporations, trusts, and other entities, facilitating 
        the opaque, complex structures used by bad actors to 
        avoid scrutiny.
           H. Res. ___, ``Expressing the sense of the 
        House of Representatives that the Under Secretary of 
        Terrorism Finance and Intelligence or a Treasury 
        official in a senior financial role be included in the 
        Deputies Committee of the National Security Council:'' 
        this discussion draft advocated for a financial crimes 
        and intelligence lead at the White House.
           H.R. ___, the ``Money Mule Education Act:'' 
        this discussion draft would raise awareness among 
        potential targets of bad actors who would recruit and 
        employ money mules to facilitate their financial 
        crimes.
           H.R. ___, ``Domestic Terrorism Financing 
        Study Act:'' this discussion draft required the 
        Government Accountability Office to examine the 
        financing of domestic terrorism and extremism, 
        including connections with foreign organizations. It 
        was initiated as a study through a request sent by 
        Representative Waters, Representative Thompson, 
        Representative Gottheimer, and Senator Brown.
           H.R. ___, the ``Organ Trafficking and SARs 
        Form Act:'' this discussion draft would require FinCEN 
        to issue guidance specifying that organ trafficking is 
        considered a type of human trafficking for purposes of 
        filing a Suspicious Activity Report.
    Members of the Committee also sent the following letter 
regarding policies related to countering terrorism financing.
           On March 3, 2022, Representative Maxine 
        Waters sent a letter to the Government Accountability 
        Office requesting that it undertake a study on the 
        financing of domestic terrorism and extremism. She was 
        joined by Senator Brown and Representative Gottheimer, 
        and in June 2022, Representative Thompson joined as a 
        requesting Member.
    Members participated in several classified briefings on the 
activities of the Treasury Department, related to sanctions and 
the Russian invasion of Ukraine, and on the activities of the 
Financial Crimes Enforcement Network. Staff also held multiple 
bipartisan briefings with industry experts on blockchain 
analytics and applications for fighting financial crime; with 
Global Financial Integrity on its report on Chinese Illicit 
Financial Flows; on Treasury's Reports on Digital Assets; with 
academic experts on policy recommendations regarding the 
ongoing tensions between Ukraine and Russia; and with industry 
and academic experts on the release of the Pandora Papers and 
efforts to combat the disclosed exploitation by enhancing 
financial transparency.
    Transparency and Anti-Corruption. The Full Committee held 
three separate hearings examining issues related to 
transparency, anti-corruption, and the implementation of the 
Anti-Money Laundering Act of 2020 and the Corporate 
Transparency Act of 2020.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross-border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
    The National Security, International Development, and 
Monetary Policy Subcommittee held three separate hearings 
examining issues related to transparency, anti-corruption, and 
the implementation of the Anti-Money Laundering Act of 2020 and 
the Corporate Transparency Act of 2020.
           ``Ending Exploitation: How the Financial 
        System Can Work to Dismantle the Business of Human 
        Trafficking,'' March 25, 2021: This hearing focused on 
        the finances of bad actors and illicit networks engaged 
        in human trafficking.
           ``Schemes and Subversion: How Bad Actors and 
        Foreign Governments Undermine and Evade Sanctions 
        Regimes,'' June 16, 2021: This hearing focused on 
        methods used by malign state actors and other targets 
        to evade U.S. economic and trade sanctions.
           ``From Timber to Tungsten: How the 
        Exploitation of Natural Resources Funds Rogue 
        Organizations and Regimes,'' November 4, 2021: This 
        hearing focused on the finances of bad actors and 
        illicit networks engaged in natural resources 
        trafficking.
    The Committee considered the following legislation to 
address issues related to transparency, anti-corruption, and 
the implementation of the Anti-Money Laundering Act of 2020 and 
the Corporate Transparency Act of 2020.
           H.R. 5320, the ``FinCEN Exchange Improvement 
        Act,'' introduced by Representative Torres: this bill 
        would allow relevant private sector entities to 
        participate in the Financial Crimes Enforcement Network 
        (FinCEN) Exchange, a voluntary information-sharing 
        partnership between law enforcement agencies, national 
        security agencies, financial institutions, and FinCEN 
        to prevent money laundering, terrorism financing, 
        organized crime, and other financial crimes. It was 
        passed into law as a provision of H.R. 4350, the 
        National Defense Authorization Act for Fiscal Year 
        2022.
           H.R. 6328, ``FinCEN Exam Delegation Study 
        Act'','' introduced by Representative Cleaver: this 
        bill directed the Government Accountability Office to 
        conduct a study into the efficacy of the delegations of 
        FinCEN's Bank Secrecy Act examination authority. 
        Initially a discussion draft considered at the June 16, 
        2021, hearing entitled ``Schemes and Subversion: How 
        Bad Actors and Foreign Governments Undermine and Evade 
        Sanctions Regimes,'' it was passed into law as a 
        provision of H.R. 4350, the National Defense 
        Authorization Act for Fiscal Year 2022.
           H.R. 6343, the ``Illicit Finance 
        Improvements Act,'' introduced by Representative Lynch: 
        This bill, which became law via inclusion in the 
        National Defense Authorization Act of Fiscal Year 2022, 
        expanded the scope of a supervisory interagency team 
        focused on countering illicit finance, including 
        proliferation finance and sanctions evasion.
           H.R. 7195, ``To provide for certain 
        whistleblower incentives and protections,'' introduced 
        by Representative Adams: this bill, which became law 
        through the National Defense Authorization Act of 
        Fiscal Year 2023, modifies the structure of FinCEN's 
        whistleblower fund, ensuring that individuals who 
        provide information that leads to successful 
        enforcement are able to receive awards as intended by 
        AMLA.
    Members of the Committee also sent several letters 
regarding issues related to transparency, anti-corruption, and 
the implementation of the Anti-Money Laundering Act of 2020 and 
the Corporate Transparency Act of 2020.
           On April 12, 2021, Chairwoman Waters sent a 
        letter to Chairman Quigley and Ranking Member Womack of 
        the House Appropriations Subcommittee on Financial 
        Services and General Government to support the full 
        funding of FinCEN's budget request, in light of its 
        needs to implement the Anti-Money Laundering Act of 
        2020 and the Corporate Transparency Act of 2020.
           On May 5, 2021, Chairwoman Maxine Waters 
        sent a letter to Secretary Yellen and FinCEN Acting 
        Director Michael Mosier as a comment submission to the 
        Advanced Notice of Proposed Rulemaking (ANPRM) on the 
        beneficial ownership reporting rule, the first of three 
        rulemakings to implement the Corporate Transparency Act 
        of 2020. She was joined on the letter by Chairwoman 
        Maloney and Chairman Brown.
           On November 3, 2021, Chairwoman Maxine 
        Waters sent a letter to Secretary Yellen regarding 
        concerns about the speed of the implementation of the 
        Corporate Transparency Act of 2020. She was joined on 
        the letter by Chairwoman Maloney and Chairman Brown.
           On February 7, 2022, Chairwoman Maxine 
        Waters sent a letter to Secretary Yellen and FinCEN 
        Acting Director Himamauli Das as a comment submission 
        to the Notice of Proposed Rulemaking (NPRM) on the 
        beneficial ownership reporting rule, the first of three 
        rulemakings to implement the Corporate Transparency Act 
        of 2020. She was joined on the letter by Chairwoman 
        Maloney and Chairman Brown.
    Members participated in several classified briefings on 
central bank digital currency; on the activities of the 
Treasury Department, related to sanctions and the Russian 
invasion of Ukraine; and on the activities of the Financial 
Crimes Enforcement Network. Staff also held multiple bipartisan 
briefings with the U.S.-China Economic and Security Review 
Commission on its annual reports; with industry experts on 
blockchain analytics and applications for fighting financial 
crime; with Global Financial Integrity on its report on Chinese 
Illicit Financial Flows; on Treasury's Reports on Digital 
Assets; with academic experts on policy recommendations 
regarding the ongoing tensions between Ukraine and Russia; and 
with industry and academic experts on the release of the 
Pandora Papers and efforts to combat the disclosed exploitation 
by enhancing financial transparency.
    Trafficking. The Full Committee held one separate hearing 
examining the finances of actors, networks, and methods related 
to individual and overlapping types of trafficking.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
    The National Security, International Development, and 
Monetary Policy Subcommittee held three separate hearings 
examining the finances of actors, networks, and methods related 
to individual and overlapping types of trafficking.
           ``Ending Exploitation: How the Financial 
        System Can Work to Dismantle the Business of Human 
        Trafficking,'' March 25, 2021: This hearing focused on 
        the finances of bad actors and illicit networks engaged 
        in human trafficking.
           ``Schemes and Subversion: How Bad Actors and 
        Foreign Governments Undermine and Evade Sanctions 
        Regimes,'' June 16, 2021: This hearing focused on 
        methods used by malign state actors and other targets 
        to evade U.S. economic and trade sanctions.
           ``From Timber to Tungsten: How the 
        Exploitation of Natural Resources Funds Rogue 
        Organizations and Regimes,'' November 4, 2021: This 
        hearing focused on the finances of bad actors and 
        illicit networks engaged in natural resources 
        trafficking.
    The Committee considered the following legislation to 
address the finances of actors, networks, and methods related 
to individual and overlapping types of trafficking:
           H.R. 151, ``Preventing Future Pandemics Act 
        of 2021,'' introduced by Representative Quigley: this 
        bill would establish measures to address global public 
        health risks posed by wildlife markets, which are 
        commercial markets that sell or slaughter wildlife for 
        human consumption as food or medicine in communities 
        where alternative nutritional or protein sources are 
        available.
           H.R. 808, the ``End Banking for Human 
        Traffickers Act of 2021,'' introduced by Representative 
        Fitzpatrick and Representative Maloney: this bill would 
        establish requirements related to the use of financial 
        transactions in human trafficking, including mandating 
        the Financial Institutions Examination Council to 
        review procedures to improve the capability of 
        specified programs to target financial transactions 
        relating to severe forms of human trafficking.
           H.R. 2332, the ``Debt Bondage Repair Act,'' 
        introduced by Representative McHenry, was passed into 
        law through the National Defense Authorization Act of 
        Fiscal Year 2022. It prohibits a consumer reporting 
        agency from reporting adverse credit information about 
        a consumer that is the result of severe human 
        trafficking or sex trafficking.
           H.R. 3094, the ``Treasury Human Trafficking 
        Coordinator Act,'' introduced by Representative Dean: 
        this bill would direct the Department of the Treasury 
        to designate a Coordinator for Human Trafficking Issues 
        to coordinate, promote, and support Treasury's work 
        related to human trafficking.
           H.R. 5320, the ``FinCEN Exchange Improvement 
        Act,'' introduced by Representative Torres: this bill 
        would allow relevant private sector entities to 
        participate in the Financial Crimes Enforcement Network 
        (FinCEN) Exchange, a voluntary information-sharing 
        partnership between law enforcement agencies, national 
        security agencies, financial institutions, and FinCEN 
        to prevent money laundering, terrorism financing, 
        organized crime, and other financial crimes. It was 
        passed into law as a provision of H.R. 4350, the 
        National Defense Authorization Act for Fiscal Year 
        2022.
           H.R. 5457, the ``Afghan Threat Finance Cell 
        Establishment Act of 2021,'' introduced by 
        Representative Lynch: this bill would direct the 
        President to establish the interagency Afghan Threat 
        Finance Cell.
           H.R. 6328, the ``FinCEN Exam Delegation 
        Study Act'','' introduced by Representative Cleaver: 
        this bill directed the Government Accountability Office 
        to conduct a study into the efficacy of the delegations 
        of FinCEN's Bank Secrecy Act examination authority. 
        Initially a discussion draft considered at the June 16, 
        2021, hearing entitled ``Schemes and Subversion: How 
        Bad Actors and Foreign Governments Undermine and Evade 
        Sanctions Regimes,'' it was passed into law as a 
        provision of H.R. 4350, the National Defense 
        Authorization Act for Fiscal Year 2022.
           H.R. 6343, the ``Illicit Finance 
        Improvements Act,'' introduced by Representative Lynch: 
        This bill, which became law via inclusion in the 
        National Defense Authorization Act of Fiscal Year 2022, 
        expanded the scope of a supervisory interagency team 
        focused on countering illicit finance, including 
        proliferation finance and sanctions evasion.
           H.R. 6388, the ``Combating Terrorist and 
        Other Illicit Financing Act,'' introduced by 
        Representative San Nicolas, would revise provisions 
        related to the National Strategy for Combating 
        Terrorist and Other Illicit Financing developed by the 
        Department of the Treasury. Additionally, tribal and 
        territorial entities must be (1) eligible for grant 
        programs to combat financial crime, and (2) included in 
        efforts to combat illicit finance. Provisions from this 
        bill became law through the National Defense 
        Authorization Act of Fiscal Year 2022.
           H.R. 6477, the ``Combating Wildlife 
        Trafficking and Proceeds Study Act,'' introduced by 
        Representative Dean: this bill, which was considered as 
        a discussion draft at the November 4, 2021, hearing 
        entitled ``Timber to Tungsten: How the Exploitation of 
        Natural Resources Funds Rogue Organizations and 
        Regimes,'' would require the Secretary of the Treasury 
        and the Secretary of the Interior to carry out a study 
        with respect to wildlife trafficking financing and 
        proceeds.
           H.R. ___, ``Expressing concern about the 
        rise in illicit mining and trafficking of gold in Latin 
        America and the pervasive problem that such mining 
        poses for the security, stability, and environment of 
        the region:'' this discussion draft was a resolution 
        opposing natural resources exploitation in Latin 
        America.
           H.R. ___, the ``Afghanistan Illicit Finance 
        Act:'' this discussion draft required FinCEN to 
        determine whether reasonable grounds exist for 
        concluding whether there are foreign financial 
        institutions that constitute a primary money laundering 
        concern in connection with Afghan illicit finance.
           H.R. ___, ``Transparency and Accountability 
        in Service Providers Act:'' this discussion draft, 
        initially considered at the April 28, 2022, hearing 
        entitled, ``Oversight of the Financial Crimes 
        Enforcement Network,'' was later included in the first 
        House-passed National Defense Authorization Act of 
        Fiscal Year 2023 as ``the ENABLERS Act.'' It requires 
        FinCEN to apply Bank Secrecy Act compliance to those 
        who provide certain ``gatekeepers'' services to 
        corporations, trusts, and other entities, facilitating 
        the opaque, complex structures used by bad actors to 
        avoid scrutiny.
           H. Res. ___, ``Expressing the sense of the 
        House of Representatives that the Under Secretary of 
        Terrorism Finance and Intelligence or a Treasury 
        official in a senior financial role be included in the 
        Deputies Committee of the National Security Council:'' 
        this discussion draft advocated for a financial crimes 
        and intelligence lead at the White House.
           H.R. ___, the ``Money Mule Education Act:'' 
        this discussion draft would raise awareness among 
        potential targets of bad actors who would recruit and 
        employ money mules to facilitate their financial 
        crimes.
           H.R. ___, ``Domestic Terrorism Financing 
        Study Act:'' this discussion draft required the 
        Government Accountability Office to examine the 
        financing of domestic terrorism and extremism, 
        including connections with foreign organizations. It 
        was initiated as a study through a request sent by 
        Representative Waters, Representative Thompson, 
        Representative Gottheimer, and Senator Brown.
           H.R. ___, the ``Organ Trafficking and SARs 
        Form Act:'' this discussion draft would require FinCEN 
        to issue guidance specifying that organ trafficking is 
        considered a type of human trafficking for purposes of 
        filing a Suspicious Activity Report.
    Members participated in several classified briefings on the 
activities of the Treasury's TFI. Staff also held multiple 
bipartisan briefings with industry experts on blockchain 
analytics and applications for fighting financial crime; with 
Global Financial Integrity on its report on Chinese Illicit 
Financial Flows; and with industry and academic experts on the 
release of the Pandora Papers and efforts to combat the 
disclosed exploitation by enhancing financial transparency.
    De-Risking at Financial Institutions. The Full Committee 
held three separate hearings examining issues and solutions 
related to the reduction in access to cross-border financial 
services.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross-border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
    The Consumer Protection and Financial Institutions 
Subcommittee held one hearing examining issues and solutions 
related to the reduction in access to cross-border financial 
services.
           ``Banking the Unbanked: Exploring Private 
        and Public Efforts to Expand Access to the Financial 
        System,'' July 21, 2021: This hearing focused on 
        examining trends in unbanked and underbanked 
        households, challenges to improve access to mainstream 
        financial services, and current initiatives and 
        proposals to better expand the availability of safe and 
        affordable banking and financial services for all 
        people and in every community.
    The Committee considered the following legislation to 
address issues and solutions related to the reduction in access 
to cross-border financial services:
           H.R. 8535, the ``Shirley Chisholm 
        Congressional Gold Medal Act,'' introduced by 
        Representative Lee: this bill would posthumously award 
        a Congressional gold medal to Shirley Chisholm.
           H.R. 8797, the ``Caribbean Stakeholders 
        Engagement Act,'' introduced by Representative Waters: 
        this bill would require the Secretary of the Treasury 
        to consult with affected financial institutions and 
        governments of the Caribbean region when developing the 
        strategy on financial services de-risking required 
        under that law.
           H.R. 8798, the ``The INCSR Improvement 
        Act,'' introduced by Representative Waters: this bill 
        would require the reporting of certain money-
        laundering-related improvements in the annual 
        International Narcotics Control Strategy Report.
           H.R. ___, the ``AML Examiners Academy Act:'' 
        this discussion draft would establish an Examiners 
        Academy to train examiners on the requirements of the 
        Bank Secrecy Act and anti-money laundering laws.
    Members of the Committee also participated in a 
congressional delegation, led by Chairwoman Waters in August 
2022. The delegation traveled to the Caribbean to join nearly a 
dozen regional heads of state, industry, and other stakeholders 
in the Bridgetown, Barbados ``Caribbean Financial Access 
Roundtable,'' co-hosted by Chairwoman Waters and the Honourable 
Mia Amor Mottley, Q.C., M.P., the Prime Minister of Barbados. 
The delegation also explored issues related to Haiti and 
digital assets during the trip. Members of the congressional 
delegation participated in a briefing by academic experts on 
U.S.-Caribbean issues prior to departure.
    Fraud and Cyber Intrusion. The Full Committee held four 
separate hearings examining fraud and cyber intrusions, 
especially those which are related to the COVID-19 pandemic.
           ``Oversight of the Treasury Department's 
        Federal Reserve's Pandemic Response,'' March 23, 2021: 
        This statutorily required hearing focused on oversight 
        of the Treasury Department and Federal Reserve's 
        equitable response to the COVID-19 pandemic, including 
        Treasury's distribution of pandemic relief funds 
        through the CARES Act.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' September 30, 
        2021: This hearing provided the Committee with an 
        update on the deployment of grants and capital 
        investments to strengthen CDFIs and MDIs.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' December 1, 
        2021: This hearing provided the Committee with an 
        update on the deployment of grants and capital 
        investments to strengthen CDFIs and MDIs.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
    The National Security, International Development, and 
Monetary Policy Subcommittee held one separate hearing 
examining fraud and cyber intrusions, especially those which 
are related to the COVID-19 pandemic.
           ``Dollars Against Democracy: Domestic 
        Terrorist Financing in the Aftermath of Insurrection,'' 
        February 25, 2021: This hearing focused on the finances 
        of domestic terrorists and extremists, including the 
        financing methods used by those engaged in the violent 
        attack on the U.S. Capitol on January 6, 2021.
    The Housing, Community Development, and Insurance 
Subcommittee held one hearing examining fraud and cyber 
intrusions, especially those which are related to the COVID-19 
pandemic.
           ``Cyber Threats, Consumer Data, and the 
        Financial System,'' November 3, 2021: This hearing 
        focused on examining cybersecurity and consumer data 
        protection challenges for financial institutions, 
        including the shared role of federal regulators and 
        state insurance commissioners in the enforcement of 
        Regulation P under the Dodd-Frank Act.
    The Artificial Intelligence Task Force held one hearing 
examining fraud and cyber intrusions, especially those which 
are related to the COVID-19 pandemic.
           ``I Am Who I Say I Am: Verifying Identity 
        while Preserving Privacy in the Digital Age,'' July 16, 
        2021: This hearing explored how advances in technology, 
        and artificial intelligence (AI), in particular, could 
        create a secure digital identity and the critical 
        infrastructure that supports it. The hearing identified 
        the central role of digital identification in an ever-
        modernizing economy in which identify fraud is 
        increasingly common.
    The Committee considered the following legislation to 
address fraud and cyber intrusions, especially those which are 
related to the COVID-19 pandemic:
           H.R. 4115, the ``Restoring Unfairly Impaired 
        Credit and Protecting Consumers Act,'' introduced by 
        Representative Tlaib: this bill would revise 
        requirements regarding consumer credit information 
        included by a consumer reporting agency on a credit 
        report, including by requiring removal of adverse 
        information that resulted from specified fraudulent 
        lending activity, shortening the time period adverse 
        information stays on reports, and limiting the 
        inclusion of certain medical debt on reports.
           H.R. 7195, ``To provide for certain 
        whistleblower incentives and protections,'' introduced 
        by Representative Adams: this bill, which became law 
        through the National Defense Authorization Act of 
        Fiscal Year 2023, modifies the structure of FinCEN's 
        whistleblower fund, ensuring that individuals who 
        provide information that leads to successful 
        enforcement are able to receive awards as intended by 
        AMLA.
           H.R. ___, the ``Fraud and Terrorism 
        Education Act:'' this discussion draft would require 
        the Director of the Financial Crimes Enforcement 
        Network to produce and distribute educational materials 
        designed to help Federal, State, local and Tribal 
        agencies responsible for distributing public benefits 
        to understand, identify, and avoid fraud, particularly 
        fraud that involves terrorist financing schemes.
           H.R. ___, ``Transparency and Accountability 
        in Service Providers Act:'' this discussion draft, 
        initially considered at the April 28, 2022, hearing 
        entitled, ``Oversight of the Financial Crimes 
        Enforcement Network,'' was later included in the first 
        House-passed National Defense Authorization Act of 
        Fiscal Year 2023 as ``the ENABLERS Act.'' It requires 
        FinCEN to apply Bank Secrecy Act compliance to those 
        who provide certain ``gatekeepers'' services to 
        corporations, trusts, and other entities, facilitating 
        the opaque, complex structures used by bad actors to 
        avoid scrutiny.
           H.R. ___, the ``Money Mule Education Act:'' 
        this discussion draft would raise awareness among 
        potential targets of bad actors who would recruit and 
        employ money mules to facilitate their financial 
        crimes.
           H.R. ___, ``Domestic Terrorism Financing 
        Study Act:'' this discussion draft required the 
        Government Accountability Office to examine the 
        financing of domestic terrorism and extremism, 
        including connections with foreign organizations. It 
        was initiated as a study through a request sent by 
        Representative Waters, Representative Thompson, 
        Representative Gottheimer, and Senator Brown.
    Members participated in several classified briefings on the 
activities of Treasury's TFI. Staff also held multiple 
bipartisan briefings with industry experts on blockchain 
analytics and applications for fighting financial crime; and 
with industry and academic experts on the release of the 
Pandora Papers and efforts to combat the disclosed exploitation 
by enhancing financial transparency.
    Information Sharing. The Full Committee held one separate 
hearing examining Bank Secrecy Act-related information sharing 
among public and private-sector organizations.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
    The Committee considered the following legislation to 
address Bank Secrecy Act-related information sharing among 
public and private-sector organizations:
           H.R. 3094, the ``Treasury Human Trafficking 
        Coordinator Act,'' introduced by Representative Dean: 
        this bill would direct the Department of the Treasury 
        to designate a Coordinator for Human Trafficking Issues 
        to coordinate, promote, and support Treasury's work 
        related to human trafficking.
           H.R. 5320, the ``FinCEN Exchange Improvement 
        Act,'' introduced by Representative Torres: this bill 
        would allow relevant private sector entities to 
        participate in the Financial Crimes Enforcement Network 
        (FinCEN) Exchange, a voluntary information-sharing 
        partnership between law enforcement agencies, national 
        security agencies, financial institutions, and FinCEN 
        to prevent money laundering, terrorism financing, 
        organized crime, and other financial crimes. It was 
        passed into law as a provision of H.R. 4350, the 
        National Defense Authorization Act for Fiscal Year 
        2022.
           H.R. 5457, the ``Afghan Threat Finance Cell 
        Establishment Act of 2021,'' introduced by 
        Representative Lynch: this bill would direct the 
        President to establish the interagency Afghan Threat 
        Finance Cell.
           H.R. 5764, ``Gun Violence Prevention Through 
        Financial Intelligence Act,'' introduced by 
        Representative Dean: this bill directs FinCEN to 
        collect information from financial institutions and 
        develop an advisory regarding the reporting of 
        suspicious transactions related to gun violence. 
        Specifically, FinCEN must gather information and 
        develop an advisory related to (1) the procurement of 
        firearms and firearm accessories for the purpose of 
        carrying out lone-wolf acts of terror, and (2) how the 
        U.S. firearms market can be exploited to facilitate gun 
        violence.
           H.R. 6343, the ``Illicit Finance 
        Improvements Act,'' introduced by Representative Lynch: 
        This bill, which became law via inclusion in the 
        National Defense Authorization Act of Fiscal Year 2022, 
        expanded the scope of a supervisory interagency team 
        focused on countering illicit finance, including 
        proliferation finance and sanctions evasion.
           H.R. 6388, the ``Combating Terrorist and 
        Other Illicit Financing Act,'' introduced by 
        Representative San Nicolas, would revise provisions 
        related to the National Strategy for Combating 
        Terrorist and Other Illicit Financing developed by the 
        Department of the Treasury. Additionally, tribal and 
        territorial entities must be (1) eligible for grant 
        programs to combat financial crime, and (2) included in 
        efforts to combat illicit finance. Provisions from this 
        bill became law through the National Defense 
        Authorization Act of Fiscal Year 2022.
           H.R. ___, the ``Fraud and Terrorism 
        Education Act:'' this discussion draft would require 
        the Director of the Financial Crimes Enforcement 
        Network to produce and distribute educational materials 
        designed to help Federal, State, local and Tribal 
        agencies responsible for distributing public benefits 
        to understand, identify, and avoid fraud, particularly 
        fraud that involves terrorist financing schemes.
           H. Res. ___, ``Expressing the sense of the 
        House of Representatives that the Under Secretary of 
        Terrorism Finance and Intelligence or a Treasury 
        official in a senior financial role be included in the 
        Deputies Committee of the National Security Council:'' 
        this discussion draft advocated for a financial crimes 
        and intelligence lead at the White House.
           H.R. ___, the ``Money Mule Education Act:'' 
        this discussion draft would raise awareness among 
        potential targets of bad actors who would recruit and 
        employ money mules to facilitate their financial 
        crimes.
           H.R. ___, ``OFAC Exchange Act:'' this 
        discussion draft advocated for the establishment of a 
        standing public-private partnership mechanism at the 
        Office of Foreign Assets Control, similar to the FinCEN 
        Exchange at the Financial Crimes Enforcement Network.
           H.R. ___, the ``OFAC Fusion Center Act:'' 
        this discussion draft would require the Secretary of 
        the Treasury to establish an Interagency Sanctions 
        Evasion Fusion Center.
           H.R. ___, the ``Organ Trafficking and SARs 
        Form Act:'' this discussion draft would require FinCEN 
        to issue guidance specifying that organ trafficking is 
        considered a type of human trafficking for purposes of 
        filing a Suspicious Activity Report.
    Members participated in several classified briefings the 
activities of Treasury's TFI. Staff also held multiple 
bipartisan briefings with industry experts on blockchain 
analytics and applications for fighting financial crime; with 
Global Financial Integrity on its report on Chinese Illicit 
Financial Flows; with academic experts on policy 
recommendations regarding the ongoing tensions between Ukraine 
and Russia; and with industry and academic experts on the 
release of the Pandora Papers and efforts to combat the 
disclosed exploitation by enhancing financial transparency.
    Emerging Technologies. The Full Committee held thirteen 
separate hearings examining non-traditional financial 
platforms, virtual assets, and emerging technologies.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide'', February 18, 2021: This hearing examined the 
        events leading to market volatility involving GameStop 
        and other stocks.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part II,'' March 17, 2021: This hearing 
        examined market volatility involving GameStop with a 
        panel of capital markets experts and investor 
        advocates.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part III,'' May 6, 2021: This hearing focused 
        on the regulatory response to the market volatility 
        surrounding the GameStop events.
           ``Monetary Policy and the State of the 
        Economy,'' July 14, 2021: This hearing focused on 
        macroeconomic trends and labor market conditions, 
        financial stability and climate risks, bank mergers, 
        real time payments and Central Bank Digital Currencies, 
        and bank capital, leverage, and stress testing.
           ``Monetary Policy and the State of the 
        Economy,'' March 2, 2022: This hearing focused on 
        inflation, trading activity by Fed officials, Central 
        Bank Digital Currency, and financial stability and 
        climate risks.
           ``Monetary Policy and the State of the 
        Economy,'' June 23, 2022: This hearing focused on 
        inflation, financial stability, Central Bank Digital 
        Currency and payment systems, and Federal Reserve 
        diversity and inclusion.
           ``Digital Assets and the Future of Finance: 
        Understanding the Challenges and Benefits of Financial 
        Innovation in the United States,'' December 8, 2021: 
        This hearing focused on examining some of the new 
        products and services offered by major digital assets 
        market participants, the role of cryptocurrency market 
        exchanges, the growth of stablecoins and other digital 
        assets, and the regulatory landscape.
           ``Digital Assets and the Future of Finance: 
        The President's Working Group on Financial Markets' 
        Report on Stablecoins,'' February 8, 2022: This hearing 
        focused on the rapid growth of stablecoins and 
        discussed findings from the ``Report on Stablecoins'' 
        by the President's Working Group on Financial Markets 
        (PWG).
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
           ``Digital Assets and the Future of Finance: 
        Examining the Benefits and Risks of a U.S. Central Bank 
        Digital Currency,'' May 26, 2022: This hearing focused 
        on focus on research on CBDCs published by the Federal 
        Reserve, the ongoing developments of foreign CBDCs, the 
        White House Executive Order on Digital Assets, and 
        other recent activity related to CBDCs.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Investigating the Collapse of FTX, Part 
        I,'' December 13, 2022: This hearing discussed the 
        collapse of FTX, a global cryptocurrency trading 
        platform, including misuse of customer assets, risk 
        management failures, and ongoing investigations and 
        lawsuits regarding the events.
    The Artificial Intelligence Task Force held four separate 
hearings on advances in artificial intelligence and examining 
frameworks for ethical AI and algorithmic bias.
           ``I Am Who I Say I Am: Verifying Identity 
        while Preserving Privacy in the Digital Age,'' July 16, 
        2021: This hearing explored how advances in technology, 
        and artificial intelligence (AI), in particular, could 
        create a secure digital identity and the critical 
        infrastructure that supports it. The hearing identified 
        the central role of digital identification in an ever-
        modernizing economy in which identify fraud is 
        increasingly common.
           ``Equitable Algorithms: How Human-Centered 
        AI Can Address Systemic Racism and Racial Justice in 
        Housing and Financial Services,'' May 7, 2021: This 
        hearing focused on discussing regulatory solutions and 
        best practices for artificial intelligence and machine 
        learning lending models that protect against bias while 
        fostering responsible innovation.
           ``Beyond I, Robot: Ethics, Artificial 
        Intelligence, and the Digital Age,'' October 13, 2021: 
        This hearing addressed the promise and perils of 
        artificial intelligence, evaluating the frameworks for 
        developing and monitoring AI.
           ``Keeping Up with the Codes--Using AI for 
        Effective RegTech,'' May 13, 2022: This hearing 
        examined the use of AI and ML in regulation and 
        supervision, by financial institutions (RegTech) and 
        regulators (SupTech).
    The Fintech Task Force held five separate hearings 
examining the fintech ecosystem including products and consumer 
protection implications.
           ``Digitizing the Dollar: Investigating the 
        Technological Infrastructure, Privacy, and Financial 
        Inclusion Implications of Central Bank Digital 
        Currencies,'' June 15, 2021: This hearing focused on 
        exploring the potential trade-offs of various 
        technological infrastructures associated with central 
        bank digital currencies, and to examine the possible 
        consumer privacy implications as well as potential for 
        increased financial inclusion.
           ``Preserving the Right of Consumers to 
        Access Personal Financial Data,'' September 21, 2021: 
        This hearing focused on addressing how the generation 
        and use of so much customer data has altered the 
        typical consumer financial experience, including how 
        users expect to receive and institutions provide 
        financial services.
           ``Buy Now, Pay More Later? Investigating 
        Risks and Benefits of BNPL and Other Emerging Fintech 
        Cash Flow Products,'' November 2, 2021: This hearing 
        focused on addressing how BNPL and other emerging 
        fintech cash flow products that have risen in 
        popularity over the past few years may provide useful 
        services, especially for individuals with so-called 
        ``thin'' credit files.
           ``What's in Your Digital Wallet? A Review of 
        Recent Trends in Mobile Banking and Payments,'' April 
        28, 2022: This hearing focused on balancing the growing 
        use, popularity, and apparent convenience of digital 
        wallets, and the rise of specific risks.
           ``Combatting Tech Bro Culture: Understanding 
        Obstacles to Investments in Diverse-Owned Fintechs,'' 
        June 30, 2022: This hearing focused on investigating 
        the lack of diversity in the VC ecosystem, challenges 
        faced by diverse fintech founders, the impact of 
        diverse-owned fintechs and VC funds on communities of 
        color, and what policy tools could be considered to 
        help promote greater VC funding for fintechs founded by 
        women and people of color.
    The Consumer Protection and Financial Institutions 
Subcommittee held two hearings examining market trends and 
emerging technology in banking.
           ``The Future of Banking: How Consolidation, 
        Nonbank Competition, and Technology are Reshaping the 
        Banking System,'' September 29, 2021: This hearing 
        focused on examining evolving trends in the banking 
        system and their impact on consumers, small businesses, 
        communities of color, bank employees.
           ``The End of Overdraft Fees? Examining the 
        Movement to Eliminate the Fees Costing Consumers 
        Billions,'' March 31, 2022: This hearing focused on 
        examining the impacts of overdraft fees on consumers 
        and recent changes by financial institutions to reduce 
        or eliminate overdraft fees.
    The Subcommittee on Oversight and Investigation held one 
hearing examining the growth of cashless to digital-only 
payment trends.
           ``Cashed Out: How a Cashless Economy Impacts 
        Disadvantaged Communities and Peoples,'' October 8, 
        2021: This hearing focused on assessing the growing 
        trend toward a cashless, digital-only economy and the 
        adverse impacts on persons who are low wealth, 
        unbanked, underbanked, or otherwise disadvantaged.
    The Oversight and Investigations Subcommittee held one 
separate hearing examining cryptocurrencies and potential risks 
to the economy.
           ``America on ``FIRE'': Will the Crypto 
        Frenzy Lead to Financial Independence and Early 
        Retirement or Financial Ruin?,'' June 30, 2021: This 
        hearing focused on assessing the systemic risk of 
        digital assets to the economy, as well as the risk of 
        loss to individual investors.
    The National Security, International Development and 
Monetary Policy Subcommittee held one separate hearing 
examining emerging technologies and financial crimes.
           ``Dollars Against Democracy: Domestic 
        Terrorist Financing in the Aftermath of Insurrection,'' 
        February 25, 2021: This hearing focused on the finances 
        of domestic terrorists and extremists, including the 
        financing methods used by those engaged in the violent 
        attack on the U.S. Capitol on January 6, 2021.
           ``The Promises and Perils of Central Bank 
        Digital Currencies'' July 27, 2021: This hearing 
        focused on examining the potential benefits and 
        drawbacks of creating government-backed digital 
        currencies.
           ``Under the Radar: Alternative Payment 
        Systems and the National Security Impacts of Their 
        Growth,'' September 20, 2022: This hearing focused on 
        how non-Western cross-border payments systems are 
        developing, perhaps to challenge U.S. dollar primacy 
        and economic tools such as sanctions.
    The Committee considered the following legislation to 
address non-traditional financial platforms, virtual assets, 
and emerging technologies:
           H.R. 6328, ``FinCEN Exam Delegation Study 
        Act,'' introduced by Representative Cleaver: this bill 
        directed the Government Accountability Office to 
        conduct a study into the efficacy of the delegations of 
        FinCEN's Bank Secrecy Act examination authority. 
        Initially a discussion draft considered at the June 16, 
        2021, hearing entitled ``Schemes and Subversion: How 
        Bad Actors and Foreign Governments Undermine and Evade 
        Sanctions Regimes,'' a version of it was passed into 
        law as a provision of H.R. 4350, the National Defense 
        Authorization Act for Fiscal Year 2022.
           H.R. 7128, ``Special Measures to Fight 
        Modern Threats Act,'' introduced by Representative 
        Himes: this bill would amend FinCEN's existing Special 
        Measures authorities to target Primary Money Laundering 
        Concerns that operate outside of the traditional 
        banking sector.
           H.R. 7195, ``To provide for certain 
        whistleblower incentives and protections,'' introduced 
        by Representative Adams: this bill, which became law 
        through the National Defense Authorization Act of 
        Fiscal Year 2023, modifies the structure of FinCEN's 
        whistleblower fund, ensuring that individuals who 
        provide information that leads to successful 
        enforcement are able to receive awards as intended by 
        AMLA.
           H.R. ___, ``Domestic Terrorism Financing 
        Study Act:'' this discussion draft required the 
        Government Accountability Office to examine the 
        financing of domestic terrorism and extremism, 
        including connections with foreign organizations. It 
        was initiated as a study through a request sent by 
        Representative Waters, Representative Thompson, 
        Representative Gottheimer, and Senator Brown.
           H.R. ___, the ``OFAC Fusion Center Act:'' 
        this discussion draft would require the Secretary of 
        the Treasury to establish an Interagency Sanctions 
        Evasion Fusion Center.
    Members of the Committee also participated in a 
congressional delegation, led by Chairwoman Waters in August 
2022. In addition to participation in the ``Caribbean Financial 
Access Roundtable,'' co hosted by Chairwoman Waters and the 
Honourable Mia Amor Mottley, Q.C., M.P., the Prime Minister of 
Barbados, the delegation explored issues related to Haiti and 
digital assets during the trip.
    Members participated in several classified briefings on 
central bank digital currency; on the activities of the 
Treasury Department, related to sanctions and the Russian 
invasion of Ukraine; and on the activities of the Financial 
Crimes Enforcement Network. Staff also held multiple bipartisan 
briefings with industry experts on blockchain analytics and 
applications for fighting financial crime; on Treasury's 
Reports on Digital Assets; and with academic experts on policy 
recommendations regarding the ongoing tensions between Ukraine 
and Russia.

                  International Development and Trade

    Global Economic Cooperation. The Full Committee held one 
hearing examining global economic cooperation.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    Oversight of the Multilateral Development Banks. The Full 
Committee held one hearing examining global economic 
cooperation.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    The Subcommittee on National Security, International 
Development, and Monetary Policy held a hearing examining the 
multilateral development banks.
           ``The Role of the International Monetary 
        Fund in a Changing Global Landscape,'' February 17, 
        2022: This hearing examined the evolving role the 
        International Monetary Fund (IMF) plays as a central 
        pillar of global economic cooperation, responsible for 
        monitoring and preserving the stability of the 
        international financial system.
    The Committee considered the following legislation to 
address multilateral development banks:
           H.R. ___, a discussion draft from Chairwoman 
        Waters, which would instruct the U.S. executive 
        director at each of the multilateral development banks 
        to vote against any project that provides a public 
        subsidy to a private sector firm unless the subsidy is 
        awarded using an open, competitive process or on an 
        open-access basis, and for other purposes.
           H.R. 7081, the ``Ukraine Comprehensive Debt 
        Repayment Relief Act of 2022'' introduced by 
        Representative C. Garcia, which would direct the 
        Department of Treasury to use the voice, vote, and 
        influence of the U.S. at the International Monetary 
        Fund (IMF), the World Bank and other relevant 
        multilateral development banks to advocate for the 
        immediate suspension all debt service payments owed to 
        these institutions by Ukraine. It also directs the 
        Secretary of Treasury, in coordination with the 
        Secretary of State, to commence immediate efforts with 
        other official bilateral creditors and commercial 
        creditor groups to pursue similar comprehensive debt 
        payment relief for Ukraine. The bill directs the United 
        States Executive Director at each international 
        financial institution to use the voice and vote of the 
        United States to support the provision of 6 
        concessional financial assistance for Ukraine and 
        economic support for refugees from Ukraine, including 
        refugees of African descent, and for countries 
        receiving refugees from Ukraine.
           H.R. ___, which requires public reporting 
        requirements by the Department of Treasury for any 
        project for which the U.S. votes in support of, or 
        abstains from voting on, under Treasury's ``Fossil Fuel 
        Energy Guidance for Multilateral Development Banks 
        (MDBs),'' issued on August 16, 2021.
    International Financial Architecture. The Full Committee 
held one hearing examining the international financial 
architecture.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    The International Development Association and the 
International Finance Corporation. The Full Committee held one 
hearing examining IDA and the IFC.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    Food Security and Climate Finance. The Full Committee held 
one hearing examining food security and climate finance.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    Developing Countries at Risk of Debt Distress. The Full 
Committee held one hearing examining developing countries at 
risk of debt distress.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    The Subcommittee on National Security, International 
Development, and Monetary Policy held a hearing examining 
developing countries at risk of debt distress.
           ``The Role of the International Monetary 
        Fund in a Changing Global Landscape,'' February 17, 
        2022: This hearing examined the evolving role the 
        International Monetary Fund (IMF) plays as a central 
        pillar of global economic cooperation, responsible for 
        monitoring and preserving the stability of the 
        international financial system.
    The Committee considered the following legislation to 
address developing countries at risk of debt distress:
           H.R. 6549, ``To provide support for 
        international initiatives to provide debt relief to 
        developing countries with unsustainable levels of debt, 
        and for other purposes,'' introduced by Representative 
        Ocasio-Cortez, which directs the Secretary of Treasury 
        and the United States representatives at the 
        International Monetary Fund and the World Bank to 
        engage with international financial institutions, 
        official creditors, and relevant commercial creditor 
        groups to advocate for the effective implementation and 
        expansion of the G 20's Common Framework, including 
        through expanded eligibility criteria to include all 
        countries with unsustainable debt; a debt payment 
        standstill for participating countries to provide 
        temporary cash flow relief and incentivize prompt debt 
        restructuring resolutions; and specific debt treatment 
        benchmarks to help accelerate decision making.
           H.R. ___ (Waters). This bill would authorize 
        a $100 million contribution to the IMF's Catastrophe 
        Containment and Relief Trust (CCRT) to support the 
        ability of the IMF to provide immediate debt service 
        relief to poor countries in the wake of catastrophic 
        natural disasters or major, fast-spreading public 
        health emergencies.
    Trade in Financial Services. The Full Committee held one 
hearing examining trade in financial services.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    Exchange Rates. The Full Committee held one hearing 
examining exchange rates.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    Export-Import Bank of the United States. The Full Committee 
held one hearing examining the Export-Import Bank.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    Extractive Industries. The Full Committee held one hearing 
examining extractive industries.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.
    Supply Chain Due Diligence. The Full Committee held one 
hearing examining supply chain due diligence.
           ``The Annual Testimony of the Secretary of 
        the Treasury on the State of the International 
        Financial System,'' April 6, 2022: This hearing 
        examined the state of the international financial 
        system and U.S. priorities with respect to U.S. 
        participation in the international financial 
        institutions.

                  Financial Technology and Innovation

    Updating Regulatory Approach to Fintech. The Full Committee 
held five separate hearings examining the regulatory framework 
for licensing and overseeing fintech products and market 
volatility.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide,'' February 18, 2021: This hearing examined the 
        events leading to market volatility involving GameStop 
        and other stocks.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part II,'' March 17, 2021: This hearing 
        examined market volatility involving GameStop with a 
        panel of capital markets experts and investor 
        advocates.
           ``Game Stopped? Who Wins and Loses When 
        Short Sellers, Social Media, and Retail Investors 
        Collide, Part III,'' May 6, 2021: This hearing focused 
        on the regulatory response to the market volatility 
        surrounding the GameStop events.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Fintech Task Force held two separate hearings examining 
the fintech ecosystem from funding in venture capital startups 
to fintech cash flow products.
           ``Buy Now, Pay More Later? Investigating 
        Risks and Benefits of BNPL and Other Emerging Fintech 
        Cash Flow Products,'' November 2, 2021: This hearing 
        focused on addressing how BNPL and other emerging 
        fintech cash flow products that have risen in 
        popularity over the past few years may provide useful 
        services, especially for individuals with so-called 
        ``thin'' credit files.
           ``Combatting Tech Bro Culture: Understanding 
        Obstacles to Investments in Diverse-Owned Fintechs,'' 
        June 30, 2022: This hearing focused on investigating 
        the lack of diversity in the VC ecosystem, challenges 
        faced by diverse fintech founders, the impact of 
        diverse-owned fintechs and VC funds on communities of 
        color, and what policy tools could be considered to 
        help promote greater VC funding for fintechs founded by 
        women and people of color.
    The Artificial Intelligence Task Force held one separate 
hearing examining supervisory and regulatory technology in the 
regulatory space.
           ``Keeping Up with the Codes--Using AI for 
        Effective RegTech,'' May 13, 2022: This hearing 
        examined the use of AI and ML in regulation and 
        supervision, by financial institutions (RegTech) and 
        regulators (SupTech).
    The Consumer Protection and Financial Institutions 
Subcommittee held two hearings examining market trends and 
emerging technology in banking.
           ``The Future of Banking: How Consolidation, 
        Nonbank Competition, and Technology are Reshaping the 
        Banking System,'' September 29, 2021: This hearing 
        focused on examining evolving trends in the banking 
        system and their impact on consumers, small businesses, 
        communities of color, bank employees.
           ``The End of Overdraft Fees? Examining the 
        Movement to Eliminate the Fees Costing Consumers 
        Billions,'' March 31, 2022: This hearing focused on 
        examining the impacts of overdraft fees on consumers 
        and recent changes by financial institutions to reduce 
        or eliminate overdraft fees.
    The Subcommittee on Oversight and Investigation held one 
hearing examining the growth of cashless to digital-only 
payment trends.
           ``Cashed Out: How a Cashless Economy Impacts 
        Disadvantaged Communities and Peoples,'' October 8, 
        2021: This hearing focused on assessing the growing 
        trend toward a cashless, digital-only economy and the 
        adverse impacts on persons who are low wealth, 
        unbanked, underbanked, or otherwise disadvantaged.
    The Committee considered the following legislation to 
address consumer protection regarding overdraft fees and scams:
           H.R. 4277, the ``Overdraft Protection Act of 
        2021'' introduced by Representative Maloney, which 
        would strengthen protections for consumers with respect 
        to overdraft fees, including by limiting the number of 
        overdraft fees a bank may charge on a monthly and 
        annual basis, prevent re-ordering transactions, and 
        require financial institutions to offer consumers the 
        opportunity to opt-in to overdraft coverage.
           H.R. ___, the ``Protecting Consumers From 
        Payment Scams Act'' introduced by Representative Lynch 
        would among other things, protect consumers from 
        liability when they are defrauded into initiating a 
        transfer; eliminate EFTA's exemption for bank wire 
        transfers; and clarify when EFTA's error resolution 
        duties apply.
    Cryptocurrencies. The Full Committee held seven separate 
hearings examining cryptocurrencies and the digital assets 
ecosystem.
           ``Monetary Policy and the State of the 
        Economy,'' July 14, 2021: This hearing focused on 
        macroeconomic trends and labor market conditions, 
        financial stability and climate risks, bank mergers, 
        real time payments and Central Bank Digital Currencies, 
        and bank capital, leverage, and stress testing.
           ``Digital Assets and the Future of Finance: 
        Understanding the Challenges and Benefits of Financial 
        Innovation in the United States,'' December 8, 2021: 
        This hearing focused on examining some of the new 
        products and services offered by major digital assets 
        market participants, the role of cryptocurrency market 
        exchanges, the growth of stablecoins and other digital 
        assets, and the regulatory landscape.
           ``Digital Assets and the Future of Finance: 
        The President's Working Group on Financial Markets' 
        Report on Stablecoins,'' February 8, 2022: This hearing 
        focused on the rapid growth of stablecoins and 
        discussed findings from the ``Report on Stablecoins'' 
        by the President's Working Group on Financial Markets 
        (PWG).
           ``Monetary Policy and the State of the 
        Economy,'' March 2, 2022: This hearing focused on 
        inflation, trading activity by Fed officials, Central 
        Bank Digital Currency, and financial stability and 
        climate risks.
           ``Digital Assets and the Future of Finance: 
        Examining the Benefits and Risks of a U.S. Central Bank 
        Digital Currency,'' May 26, 2022: This hearing focused 
        on CBDC research published by the Federal Reserve, the 
        ongoing developments of foreign CBDCs, the White House 
        Executive Order on Digital Assets, and other recent 
        activity related to CBDCs.
           ``Monetary Policy and the State of the 
        Economy,'' June 23, 2022: This hearing focused on 
        inflation, financial stability, Central Bank Digital 
        Currencies and payment systems, and Federal Reserve 
        diversity and inclusion.
           ``Investigating the Collapse of FTX, Part 
        I,'' December 13, 2022: This hearing discussed the 
        collapse of FTX, a global cryptocurrency trading 
        platform, including misuse of customer assets, risk 
        management failures, and ongoing investigations and 
        lawsuits regarding the events.
    The Fintech Task Force held one separate hearing examining 
Central Bank Digital Currencies.
           ``Digitizing the Dollar: Investigating the 
        Technological Infrastructure, Privacy, and Financial 
        Inclusion Implications of Central Bank Digital 
        Currencies,'' June 15, 2021: This hearing focused on 
        exploring the potential trade-offs of various 
        technological infrastructures associated with central 
        bank digital currencies, and to examine the possible 
        consumer privacy implications as well as potential for 
        increased financial inclusion.
    The Oversight and Investigations Subcommittee held one 
separate hearing examining cryptocurrencies and potential risks 
to the economy.
           ``America on ``FIRE'': Will the Crypto 
        Frenzy Lead to Financial Independence and Early 
        Retirement or Financial Ruin?,'' June 30, 2021: This 
        hearing focused on assessing the systemic risk of 
        digital assets to the economy, as well as the risk of 
        loss to individual investors.
    The National Security, International Development and 
Monetary Policy Subcommittee held three separate hearings 
examining cryptocurrencies and the digital assets ecosystem.
           ``Dollars Against Democracy: Domestic 
        Terrorist Financing in the Aftermath of Insurrection,'' 
        February 25, 2021: This hearing focused on the finances 
        of domestic terrorists and extremists, including the 
        financing methods used by those engaged in the violent 
        attack on the U.S. Capitol on January 6, 2021.
           ``The Promises and Perils of Central Bank 
        Digital Currencies'' July 27, 2021: This hearing 
        focused on examining the potential benefits and 
        drawbacks of creating government-backed digital 
        currencies.
           ``Under the Radar: Alternative Payment 
        Systems and the National Security Impacts of Their 
        Growth,'' September 20, 2022: This hearing focused on 
        how non-Western cross-border payments systems are 
        developing, perhaps to challenge U.S. dollar primacy 
        and economic tools such as sanctions.
    Faster Payments. The Full Committee held three separate 
hearings examining payment systems.
           ``Monetary Policy and the State of the 
        Economy,'' July 14, 2021: This hearing focused on 
        macroeconomic trends and labor market conditions, 
        financial stability and climate risks, bank mergers, 
        real time payments and Central Bank Digital Currencies, 
        and bank capital, leverage, and stress testing.
           ``Monetary Policy and the State of the 
        Economy,'' March 2, 2022: This hearing focused on 
        inflation, trading activity by Fed officials, Central 
        Bank Digital Currency, and financial stability and 
        climate risks.
           ``Monetary Policy and the State of the 
        Economy,'' June 23, 2022: This hearing focused on 
        inflation, financial stability, Central Bank Digital 
        Currency and payment systems, and Federal Reserve 
        diversity and inclusion.
    The Fintech Task Force held one separate hearing examining 
digital wallets.
           ``What's in Your Digital Wallet? A Review of 
        Recent Trends in Mobile Banking and Payments,'' April 
        28, 2022: This hearing focused on balancing the growing 
        use, popularity, and apparent convenience of digital 
        wallets, and the rise of specific risks.
    Algorithmic Bias and Artificial Intelligence. The 
Artificial Intelligence Task Force held four separate hearings 
on advances in artificial intelligence and examining frameworks 
for ethical AI and algorithmic bias.
           ``Equitable Algorithms: How Human-Centered 
        AI Can Address Systemic Racism and Racial Justice in 
        Housing and Financial Services,'' May 7, 2021: This 
        hearing focused on discussing regulatory solutions and 
        best practices for artificial intelligence and machine 
        learning lending models that protect against bias while 
        fostering responsible innovation.
           ``I Am Who I Say I Am: Verifying Identity 
        while Preserving Privacy in the Digital Age,'' July 16, 
        2021: This hearing explored how advances in technology, 
        and artificial intelligence (AI), in particular, could 
        create a secure digital identity and the critical 
        infrastructure that supports it. The hearing identified 
        the central role of digital identification in an ever-
        modernizing economy in which identify fraud is 
        increasingly common.
           ``Beyond I, Robot: Ethics, Artificial 
        Intelligence, and the Digital Age,'' October 13, 2021: 
        This hearing addressed the promise and perils of 
        artificial intelligence, evaluating the frameworks for 
        developing and monitoring AI.
           ``Keeping Up with the Codes--Using AI for 
        Effective RegTech,'' May 13, 2022: This hearing 
        examined the use of AI and ML in regulation and 
        supervision, by financial institutions (RegTech) and 
        regulators (SupTech).
    Members of the Committee also sent the following letter 
regarding algorithmic bias.
           On November 29, 2021, Chairwoman Maxine 
        Waters and Representative Bill Foster sent a letter to 
        Chairman Powell, Chairman Harper, Director Chopra, 
        Chairman McWilliams, and Acting Comptroller Hsu 
        responding to the request for information on the use of 
        artificial intelligence (AI) by the financial 
        institutions they oversee.
    Cybersecurity, Digital Data, and Privacy. The Full 
Committee held nine separate hearings examining cybersecurity, 
digital data, and privacy.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' May 19, 
        2021: This hearing focused on the prudential banking 
        regulators efforts to promote diversity in banking, 
        ensure safety and soundness in the financial system, 
        help homeowners and other consumers during the 
        pandemic, as well as other regulatory and supervisory 
        updates.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report.
           ``Monetary Policy and the State of the 
        Economy,'' March 2, 2022: This hearing focused on 
        inflation, trading activity by Fed officials, Central 
        Bank Digital Currency, and financial stability and 
        climate risks.
           ``Oversight of the Financial Crimes 
        Enforcement Network,'' April 25, 2022: The hearing 
        provided an overview of the Financial Crimes 
        Enforcement Network and discussed the priorities of the 
        Anti-Money Laundering Act of 2020.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
           ``The Annual Report of the Financial 
        Stability Oversight Council,'' May 12, 2022: The 
        hearing considered FSOC's recent annual report, 
        including cybersecurity and potential threats to 
        financial stability in the insurance and business 
        sectors.
           ``Monetary Policy and the State of the 
        Economy,'' June 23, 2022: This hearing focused on 
        inflation, financial stability, Central Bank Digital 
        Currencies and payment systems, and Federal Reserve 
        diversity and inclusion.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on the prudential 
        banking regulators efforts to promote diversity in 
        banking, ensure safety and soundness in the financial 
        system, hold banks and credit unions accountable as 
        well as other regulatory and supervisory updates 
        including cybersecurity.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report.
    The Fintech Task Force held a separate hearing examining 
consumer data and financial services.
           ``Preserving the Right of Consumers to 
        Access Personal Financial Data,'' September 21, 2021: 
        This hearing focused on addressing how the generation 
        and use of so much customer data has altered the 
        typical consumer financial experience, including how 
        users expect to receive and institutions provide 
        financial services.
    The Artificial Intelligence Task Force held four separate 
hearings examining privacy and ethical AI.
           ``I Am Who I Say I Am: Verifying Identity 
        while Preserving Privacy in the Digital Age,'' July 16, 
        2021: This hearing explored how advances in technology, 
        and artificial intelligence (AI), in particular, could 
        create a secure digital identity and the critical 
        infrastructure that supports it. The hearing identified 
        the central role of digital identification in an ever-
        modernizing economy in which identify fraud is 
        increasingly common.
           ``Preserving the Right of Consumers to 
        Access Personal Financial Data,'' September 21, 2021: 
        This hearing focused on addressing how the generation 
        and use of so much customer data has altered the 
        typical consumer financial experience, including how 
        users expect to receive and institutions provide 
        financial services.
           ``Beyond I, Robot: Ethics, Artificial 
        Intelligence, and the Digital Age,'' October 13, 2021: 
        This hearing addressed the promise and perils of 
        artificial intelligence, evaluating the frameworks for 
        developing and monitoring AI.
           ``Keeping Up with the Codes--Using AI for 
        Effective RegTech,'' May 13, 2022: This hearing 
        examined the use of AI and ML in regulation and 
        supervision, by financial institutions (RegTech) and 
        regulators (SupTech).
    The Consumer Protection and Financial Institutions 
Subcommittee held one separate hearing examining cybersecurity 
and consumer data protection.
           ``Cyber Threats, Consumer Data, and the 
        Financial System,'' November 3, 2021: This hearing 
        focused on, among other things, the technology 
        capabilities and partnerships of, as well as the 
        cybersecurity threats faced by, financial institutions, 
        including MDIs and CDFIs.

                        Diversity and Inclusion

    Racial and Economic Justice. The Full Committee held 11 
separate hearings examining racial and economic justice.
           ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing focused on 
        ways to promote racial equity, including through 
        support provided to MDIs and CDFIs to strengthen their 
        ability to serve communities of color and other 
        underserved communities.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
            ``Housing in America: Oversight of the 
        Federal Housing Finance Agency,'' July 20, 2022: This 
        hearing focused on the supervision, regulation, and 
        oversight of the government sponsored enterprises 
        (GSEs), which include Fannie Mae and Freddie Mac (the 
        Enterprises), as well as the Federal Home Loan Bank 
        System which support the mortgage system, and first-
        time homebuyers many of whom are people of color and 
        earn lower or middle incomes.
           ``Boom and Bust: Inequality, Homeownership, 
        and the Long-Term Impacts of the Hot Housing Market,'' 
        June 29, 2022: This hearing focused on the state of 
        homeownership since the onset of the COVID-19 pandemic, 
        including significant increases in housing costs, 
        historically low interest rates that began to rise in 
        2022, as well as significant rises in refinance 
        mortgages. This hearing also focused on the wealth, 
        racial, and ethnic disparities within these trends.
           ``Monetary Policy and the State of the 
        Economy,'' July 14, 2021: This hearing focused on 
        macroeconomic trends and labor market conditions, 
        financial stability and climate risks, bank mergers, 
        real time payments and Central Bank Digital Currencies, 
        and bank capital, leverage, and stress testing.
           ``Monetary Policy and the State of the 
        Economy,'' June 23, 2022: This hearing focused on 
        inflation, financial stability, Central Bank Digital 
        Currency and payment systems, and Federal Reserve 
        diversity and inclusion.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report, including its 
        workforce diversity.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report, 
        including its workforce diversity.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report, 
        including its workforce diversity.
           ``Devalued, Denied, and Disrespected: How 
        Home Appraisal Bias and Discrimination Are Hurting 
        Homeowners and Communities of Color,'' March 29, 2022: 
        This hearing focused on home appraisal bias and 
        discrimination that exacerbate the racial and ethnic 
        wealth and homeownership gaps by lowering home values 
        for homeowners of color, locking people of color out of 
        homeownership opportunities, and contributing to 
        historic disinvestment in communities of color.
           ``A Biased, Broken System: Examining 
        Proposals to Overhaul Credit Reporting to Achieve 
        Equity,'' June 29, 2021: This hearing focused on the 
        state of credit reporting in the U.S., including before 
        and after the COVID-19 pandemic, as well as bias and 
        discrimination in the system that contributes to the 
        racial wealth and homeownership gaps.
    Each Subcommittee on Diversity and Inclusion hearing 
examined racial and economic justice.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``Access Denied: Eliminating Barriers and 
        Increasing Economic Opportunity for Justice-Involved 
        Individuals,'' September 28, 2021: This hearing focused 
        on challenges facing those who are justice-involved. 
        Those are arrested and incarcerated are 
        disproportionately low-income and people of color.
           ``There's No Pride in Prejudice: Eliminating 
        Barriers to Full Economic Inclusion for the LGBTQ+ 
        Community,'' November 9, 2021: This hearing focused on 
        economic and financial inclusion barriers facing 
        individuals in the LGBTQ+ community, including wealth 
        inequality, challenges in locating safe and affordable 
        housing and employment in the financial sector.
           ``Building Opportunity: Addressing the 
        Financial Barriers to Minority and Women-Owned 
        Businesses' Involvement in Infrastructure Projects,'' 
        February 3, 2022: This hearing focused on access to 
        credit and equity issues facing minority- and women-
        owned businesses.
           ``Diversity Includes Disability: Exploring 
        Inequities in Financial Services for Persons with 
        Disabilities, Including Those Newly Disabled Due to 
        Long-Term COVID,'' May 24, 2022: This hearing focused 
        on economic inclusion issues facing those who are 
        disabled, including challenges in accessing credit and 
        banking services, securing safe and affordable housing 
        and employment in the financial sector.
    The Committee considered the following legislation to 
address racial and economic justice:
           H.R. ___, introduced by Representative 
        Green, which would require public companies to conduct 
        an independent audit assessing: the issuer's policies 
        and practices on civil rights, equity, diversity, and 
        inclusion; how such policies and practices affect the 
        issuer's business; and whether the issuer had direct or 
        indirect ties to or profited from the institution of 
        slavery. Issuers must report assessment findings 
        through in its filings and on the company website. To 
        the extent that these institutions did have ties to or 
        benefit from slavery, they would be required to 
        disclose what steps they have taken to reconcile. 
        Additionally, the bill establishes the Offices of 
        Reparations Programs within the Department of the 
        Treasury Office of Reparations Programs to administer 
        programs related to down payment assistance, 
        homeownership, startup capital, and funded savings 
        programs for Black communities, as well other programs 
        determined appropriate by the Secretary in furtherance 
        of racial equity.
           H.R. ___, which would amend the Securities 
        Exchange Act of 1934 to require issuers to report 
        information relating to gender and racial pay equity, 
        and for other purposes. Additionally, this bill would 
        require issuers filing to the Securities and Exchange 
        Commission to conduct an audit on gender and racial pay 
        equity with respect to the compensation of the 
        employees every two years and disclose the results 
        every two years on their Form 10-K.
           H.R. ___, which would amend the Dodd-Frank 
        Wall Street Reform and Consumer Protection Act to 
        require certain pay equity audits, and for other 
        purposes. This bill would require the Offices of 
        Minority and Women Inclusion at the federal financial 
        regulatory agencies to conduct internal pay equity 
        audits every two years and to report those findings to 
        Congress.
    Financial and Economic Inclusion. The Full Committee held 
seventeen separate hearings examining financial and economic 
inclusion.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on recent trends in 
        banking, diversity in banking, regulatory developments 
        including advancements made in the joint rulemaking 
        related to the Community Reinvestment Act among other 
        topics.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing focused on several high priority 
        areas of concern and opportunity for the seven largest 
        consumer banks. Topics related to financial inclusion 
        included (1) overdraft fees, (2) consumer protection, 
        (3) diversity, inclusion, and racial equity, (4) 
        promoting the public interest, and (5) emerging 
        technologies and the future of banking.
           ``Boom and Bust: Inequality, Homeownership, 
        and the Long-Term Impacts of the Hot Housing Market,'' 
        June 29, 2022: This hearing focused on the state of 
        homeownership since the onset of the COVID-19 pandemic, 
        including significant increases in housing costs, 
        historically low interest rates that began to rise in 
        2022, as well as significant rises in refinance 
        mortgages. This hearing also focused on the wealth, 
        racial, and ethnic disparities within these trends.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report, including its 
        workforce diversity.
           ``Devalued, Denied, and Disrespected: How 
        Home Appraisal Bias and Discrimination Are Hurting 
        Homeowners and Communities of Color,'' March 29, 2022: 
        This hearing focused on home appraisal bias and 
        discrimination that exacerbate the racial and ethnic 
        wealth and homeownership gaps by lowering home values 
        for homeowners of color, locking people of color out of 
        homeownership opportunities, and contributing to 
        historic disinvestment in communities of color.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' September 30, 
        2021: This hearing provided the Committee with an 
        update on the deployment of grants and capital 
        investments to strengthen CDFIs and MDIs.
           ``Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' December 1, 
        2021: This hearing provided the Committee with an 
        update on the deployment of grants and capital 
        investments to strengthen CDFIs and MDIs.
           ``An Unprecedented Investment for Historic 
        Results: How Federal Support for MDIs and CDFIs Have 
        Launched a New Era for Disadvantaged Communities,'' 
        February 16, 2022: This hearing focused on the impact 
        of federal investments in MDIs and CDFIs, as well as 
        proposals to enhance such support.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report, 
        including its workforce diversity.
           ``Building Back A Better, More Equitable 
        Housing Infrastructure for America: Oversight of the 
        Department of Housing and Urban Development,'' July 20, 
        2021: This hearing focused on oversight of HUD, 
        including the full and equitable recovery of people of 
        color and women of color who experiences 
        disproportionally high unemployment and higher shares 
        of housing payment arrearages and mortgage defaults.
           ``A Biased, Broken System: Examining 
        Proposals to Overhaul Credit Reporting to Achieve 
        Equity,'' June 29, 2021: This hearing focused on the 
        state of credit reporting in the U.S., including before 
        and after the COVID-19 pandemic, as well as bias and 
        discrimination in the system that contributes to the 
        racial wealth and homeownership gaps.
           ``Holding Megabanks Accountable: Oversight 
        of America's Largest Consumer Facing Banks,'' September 
        21, 2022: This hearing provided the Committee with an 
        update on the products and practices of the largest 
        banks that are predominantly engaged in the consumer 
        financial marketplace, the hearing also referenced ther 
        diversity of their workforce and suppliers.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
           Oversight of the Treasury Department's and 
        Federal Reserve's Pandemic Response,'' March 23, 2021. 
        This hearing examined the various pandemic programs 
        Treasury and the Fed administer, including those 
        designed to support individuals, workers, families, and 
        renters. ``Justice for All: Achieving Racial Equity 
        Through Fair Access to Housing and Financial 
        Services,'' March 10, 2021: This hearing focused on 
        ways to promote racial equity, including through 
        support provided to MDIs and CDFIs to strengthen their 
        ability to serve communities of color and other 
        underserved communities.
           ``More than a Shot in the Arm: The Need for 
        Additional COVID-19 Stimulus,'' February 4, 2021: This 
        hearing focused on the need for additional COVID relief 
        through the American Rescue Plan Act, including for 
        supplemental stimulus payments, housing, employment 
        benefits, community relief, and health measures.
           ``When Banks Leave: The Impacts of De-
        Risking on the Caribbean and Strategies for Ensuring 
        Financial Access,'' September 14, 2022: This hearing 
        focused on the effects of the loss of cross-border 
        banking services in the Caribbean region and potential 
        solutions to reverse the trend.
    The Diversity and Inclusion Subcommittee held four separate 
hearings examining financial and economic inclusion for 
underrepresented groups.
           ``Access Denied: Eliminating Barriers and 
        Increasing Economic Opportunity for Justice-Involved 
        Individuals,'' September 28, 2021: This hearing focused 
        on challenges facing those who are justice-involved. 
        Those are arrested and incarcerated are 
        disproportionately low-income and people of color.
           ``There's No Pride in Prejudice: Eliminating 
        Barriers to Full Economic Inclusion for the LGBTQ+ 
        Community,'' November 9, 2021: This hearing focused on 
        economic and financial inclusion barriers facing 
        individuals in the LGBTQ+ community, including wealth 
        inequality, challenges in locating safe and affordable 
        housing and employment in the financial sector.
           ``Building Opportunity: Addressing the 
        Financial Barriers to Minority and Women-Owned 
        Businesses' Involvement in Infrastructure Projects,'' 
        February 3, 2022: This hearing focused on access to 
        credit and equity issues facing minority- and women-
        owned businesses.
           ``Diversity Includes Disability: Exploring 
        Inequities in Financial Services for Persons with 
        Disabilities, Including Those Newly Disabled Due to 
        Long-Term COVID,'' May 24, 2022: This hearing focused 
        on economic inclusion issues facing those who are 
        disabled, including challenges in accessing credit and 
        banking services, securing safe and affordable housing 
        and employment in the financial sector.
    The Committee considered the following legislation to 
address economic and financial inclusion for underrepresented 
groups:
           H.R. ___, the ``Disability Disclosure Act of 
        2022'' (Waters), which would require public companies 
        to include information on the disability status of 
        their employees in annual reports to shareholders and 
        the public.
           H.R. ___, the ``Promoting Housing 
        Accessibility Act'', which would promote housing 
        accessibility for persons with mobility, hearing, or 
        vision impairments, requiring that no less than 10 
        percent of units in a federally assisted development 
        must be accessible for persons with mobility 
        impairments, and no less than 5 percent shall be 
        accessible for persons with hearing or vision 
        impairments.
           H.R. 4695, the ``Eleanor Smith Inclusive 
        Home Design Act of 2021'' introduced by Representative 
        Schakowsky, which would require that certain newly 
        constructed, federally assisted housing not covered by 
        the Fair Housing Act, including single-family homes and 
        town houses, contain at least one level that is 
        accessible to individuals with disabilities. Under the 
        bill, federal housing assistance may be withheld for 
        projects out of compliance. Additionally, the bill 
        allows for aggrieved persons or the Attorney General to 
        commence a civil action for violations.
           H.R. 2498, the ``Private Loan Disability 
        Discharge Act of 2021'' introduced by Representative 
        Dean, which would direct the holder of a private 
        education loan to discharge the loan in the event of 
        the borrower's death or total and permanent disability. 
        The obligation of a cosigner for a private education 
        loan is also discharged in the event of total and 
        permanent disability of the borrower. The bill also 
        extends indefinitely the exclusion of student loan debt 
        discharge from gross income for federal income tax 
        purposes.
           H.R. ___, the ``Equal Credit Act of 2022,'' 
        which would amend the Equal Credit Opportunity Act to 
        include persons with a disability as a protected class 
        and protect them from lending discrimination.
    Members of the Committee also sent the following letter 
regarding financial and economic inclusion.
           On November 4, 2022, Chairwoman Maxine 
        Waters sent a letter to Federal Reserve Board Chairman 
        Powell to consider the significant impact an increase 
        in the federal funds rate may have on families and the 
        cost of housing.
    Wealth and Income Inequality, and Income Mobility. The Full 
Committee held three separate hearings examining wealth and 
income inequality and income mobility.
           ``More than a Shot in the Arm: The Need for 
        Additional COVID-19 Stimulus,'' February 4, 2021: This 
        hearing focused on the need for additional COVID relief 
        through the American Rescue Plan Act, including for 
        supplemental stimulus payments, housing, employment 
        benefits, community relief, and health measures.
           ``Oversight of the Treasury Department's 
        Federal Reserve's Pandemic Response,'' March 23, 2021: 
        This statutorily required hearing focused on oversight 
        of the Treasury Department and Federal Reserve's 
        equitable response to the COVID-19 pandemic, including 
        Treasury's distribution of pandemic relief funds 
        through the CARES Act.
           ``Build Back Better: Investing in Equitable 
        and Affordable Housing Infrastructure,'' April 14, 
        2021: This hearing focused on the state of the nation's 
        housing infrastructure and the need for robust 
        investments augment, repair, and maintain housing as 
        part of U.S. infrastructure, including the effects of 
        the COVID-19 pandemic on housing needs.
    The Diversity and Inclusion Subcommittee held four separate 
hearings examining wealth and income inequality, and income 
mobility.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``Access Denied: Eliminating Barriers and 
        Increasing Economic Opportunity for Justice-Involved 
        Individuals,'' September 28, 2021: This hearing focused 
        on challenges facing those who are justice-involved. 
        Those are arrested and incarcerated are 
        disproportionately low-income and people of color.
           ``There's No Pride in Prejudice: Eliminating 
        Barriers to Full Economic Inclusion for the LGBTQ+ 
        Community,'' November 9, 2021: This hearing focused on 
        economic and financial inclusion barriers facing 
        individuals in the LGBTQ+ community, including wealth 
        inequality, challenges in locating safe and affordable 
        housing and employment in the financial sector.
           ``Diversity Includes Disability: Exploring 
        Inequities in Financial Services for Persons with 
        Disabilities, Including Those Newly Disabled Due to 
        Long-Term COVID,'' May 24, 2022: This hearing focused 
        on economic inclusion issues facing those who are 
        disabled, including challenges in accessing credit and 
        banking services, securing safe and affordable housing 
        and employment in the financial sector.
    The Committee considered the following legislation to 
address wealth and income inequality, and income mobility:
           H.R. 5911, the ``Fair Hiring in Banking 
        Act'' introduced by Representative Beatty, which would 
        amend the Federal Deposit Insurance Act and the Federal 
        Credit Union Act to expand employment opportunities for 
        those with a previous minor criminal offense.
           H.R. ___, the ``Promoting Financial 
        Inclusion for LGBTQ+ Individuals Act,'' which would 
        require the federal financial regulators to issue 
        guidance on steps that companies can take to be 
        inclusive of consumers that self-identify as lesbian, 
        gay, bisexual, transgender or queer.
           H.R. 6599, the ``Promoting Responsive 
        Inclusion and Diverse Engagement Act of 2022 (PRIDE Act 
        of 2022)'' introduced by Representative Williams, which 
        would amend the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act to expand the role of the 
        Office of Minority and Women Inclusion to also support 
        people who identify as lesbian, gay, bisexual, 
        transgender, or queer.
           H.R. 7977, the ``Promoting Opportunities for 
        Non-Traditional Capital Formation Act'' introduced by 
        Representative Waters, which would amend the Securities 
        Exchange Act of 1934 to require the Advocate for Small 
        Business Capital Formation to provide educational 
        resources and host events to promote capital raising 
        options for traditionally under-represented small 
        businesses.
           H.R. ___, the ``Reporting for Equity and 
        Advancing Lending Act (REAL Act),'' which would amend 
        the Equal Credit Opportunity Act to require the Bureau 
        of Consumer Financial Protection to conduct an annual 
        analysis on lending to minority-owned businesses and 
        women-owned businesses by financial institutions.
           H.R. ___, the ``Advancing Technologies to 
        Support Inclusion Act,'' which would require the 
        Secretary of the Treasury to conduct a study on certain 
        technology challenges that minority depository 
        institutions and community development financial 
        institutions face in serving current and prospective 
        customers and would require Treasury to carry out a 
        grant program to address such challenges.
           H.R. ___, which would require States 
        participating in the State Small Business Credit 
        Initiative (SSBCI) to annually report information about 
        the contracts entered by such State, with women, 
        minority, veteran, and other business entities.
           H.R. ___, which would instruct the 
        Undersecretary of the Minority Business Development 
        Agency to provide equity investments for low-wealth 
        business owners.
           H.R. ___, the ``Disability Disclosure Act of 
        2022'' (Waters), which would require public companies 
        to include information on the disability status of 
        their employees in annual reports to shareholders and 
        the public.
           H.R. ___, the ``Promoting Housing 
        Accessibility Act,'' which would promote housing 
        accessibility for persons with mobility, hearing, or 
        vision impairments, requiring that no less than 10 
        percent of units in a federally assisted development 
        must be accessible for persons with mobility 
        impairments, and no less than 5 percent shall be 
        accessible for persons with hearing or vision 
        impairments.
           H.R. 4695, the ``Eleanor Smith Inclusive 
        Home Design Act of 2021'' introduced by Representative 
        Schakowsky, which would require that certain newly 
        constructed, federally assisted housing not covered by 
        the Fair Housing Act, including single-family homes and 
        town houses, contain at least one level that is 
        accessible to individuals with disabilities. Under the 
        bill, federal housing assistance may be withheld for 
        projects out of compliance. Additionally, the bill 
        allows for aggrieved persons or the Attorney General to 
        commence a civil action for violations.
           H.R. 2498, the ``Private Loan Disability 
        Discharge Act of 2021'' introduced by Representative 
        Dean, which would direct the holder of a private 
        education loan to discharge the loan in the event of 
        the borrower's death or total and permanent disability. 
        The obligation of a cosigner for a private education 
        loan is also discharged in the event of total and 
        permanent disability of the borrower. The bill also 
        extends indefinitely the exclusion of student loan debt 
        discharge from gross income for federal income tax 
        purposes.
           H.R. ___, the ``Equal Credit Act of 2022'', 
        which would amend the Equal Credit Opportunity Act to 
        include persons with a disability as a protected class 
        and protect them from lending discrimination.
    Members of the Committee also sent the following letter 
regarding wealth and income inequality, and income mobility.
           On November 4, 2022, Chairwoman Maxine 
        Waters sent a letter to Federal Reserve Board Chairman 
        Powell to consider the significant impact an increase 
        in the federal funds rate may have on families and the 
        cost of housing.
    Diversity Data. The Full Committee held five separate 
hearings examining diversity data at financial regulators.
           ``Bringing Consumer Protection Back: A Semi-
        Annual Review of the Consumer Financial Protection 
        Bureau,'' October 27, 2021: This hearing focused on the 
        priorities of newly-confirmed Director, Rohit Chopra, 
        as well as updated on the CFPB's activities, including 
        research, rule-making, and new initiatives highlighted 
        in the most recent semi-annual report, including its 
        workforce diversity.
           ``Housing in America: Oversight of the 
        Federal Housing Finance Agency,'' July 20, 2022: This 
        hearing focused on the supervision, regulation, and 
        oversight of the government sponsored enterprises 
        (GSEs), which include Fannie Mae and Freddie Mac (the 
        Enterprises), as well as the Federal Home Loan Bank 
        System which support the mortgage system. The staff 
        diversity of these organizations was also reviewed.
           ``Consumers First: Semi-Annual Review of the 
        Consumer Financial Protection Bureau,'' April 27, 2022: 
        This hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report, 
        including its workforce diversity.
           ``Consumers First: Semi-Annual Report of the 
        Consumer Financial Protection Bureau,'' December 14, 
        2022: The hearing focused on the CFPB's most recent 
        activities, including reports, research, rule-making 
        updates, enforcement actions, and new initiatives 
        highlighted in the most recent semi-annual report, 
        including its workforce diversity.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on recent trends in 
        banking, diversity in banking, regulatory developments 
        including advancements made in the joint rulemaking 
        related to the Community Reinvestment Act among other 
        topics.
    The majority staff of the Full Committee published two 
reports on corporate diversity and inclusion in the financial 
services industry.
           Diversity and Inclusion: Holding America's 
        Largest Investment Firms Accountable (December 2021), 
        which featured the diversity and inclusion data of the 
        31 largest investment firms.
           Diversity and Inclusion: Holding America's 
        Largest Investment Firms Accountable (September 2022), 
        which featured the diversity and inclusion data of the 
        27 largest property & casualty, and life insurance 
        companies.
    The Diversity and Inclusion Subcommittee held four separate 
hearings examining corporate diversity data.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``A Review of Diversity and Inclusion 
        Performance at America's Large Investment Firms,'' 
        December 9. 2021: This hearing focused on findings from 
        the Committee's report examining the diversity and 
        inclusion performance of the largest investment firms.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on topic This hearing 
        focused on findings from the Committee's report 
        examining the diversity and inclusion performance of 
        the largest investment property and casualty and life 
        insurance companies.
           ``By the Numbers: How Diversity Data Can 
        Measure Commitment to Diversity, Equity, and 
        Inclusion,'' March 15, 2021: This hearing focused on 
        the disclosure of data on diversity and inclusion and 
        how the lack of data prevents proper oversight at the 
        OMWIs.
    Staff also held briefings with various banks, insurance 
companies and investment companies about their corporate 
diversity data, including workforce and supplier diversity.
    The Committee considered the following legislation to 
address the collection of diversity data:
           H.R. 1277, the ``Improving Corporate 
        Governance Through Diversity Act of 2021'' introduced 
        by Representative Meeks, which would require the 
        submission by issuers of data relating to diversity, 
        and for other purposes.
           H.R. ___, the ``Promoting Diversity and 
        Inclusion in Banking Act'' introduced by (Green), which 
        would require Federal banking regulators to include a 
        diversity and inclusion component in the Uniform 
        Financial Institutions Rating System and require 
        mandatory reporting of diversity and inclusion 
        assessments
           H.R. 2123, the ``Diversity and Inclusion 
        Data Accountability and Transparency Act of 2021'' 
        introduced by Representative Beatty, which would 
        require certain regulated entities to report to the 
        Offices of Women and Minority Inclusion to allow that 
        office to carry out duties related to diversity 
        policies and practices.
           H.R. ___, the ``Disability Disclosure Act of 
        2022'' (Waters), which would require public companies 
        to include information on the disability status of 
        their employees in annual reports to shareholders and 
        the public.
           H.R. 6599, the ``Promoting Responsive 
        Inclusion and Diverse Engagement Act of 2022 (PRIDE Act 
        of 2022)'' introduced by Representative Williams, which 
        would amend the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act to expand the role of the 
        Office of Minority and Women Inclusion to also support 
        people who identify as lesbian, gay, bisexual, 
        transgender, or queer.
    Members of the Committee also sent a letter regarding 
diversity data disclosure.
           On May 23, 2022, Chairwoman Maxine Waters 
        sent a letter to Chair Gary Gensler of the U.S. 
        Securities and Exchange Commission to request that 
        disclosures be required that include standardized data 
        of race, ethnicity, gender, sexual orientation, and 
        disability status.
    Offices of Minority and Women Inclusion (OMWIs). The Full 
Committee held one hearing examining the diversity of 
prudential regulators.
           ``Oversight of Prudential Regulators: 
        Ensuring the Safety, Soundness, Diversity, and 
        Accountability of Depository Institutions,'' November 
        16, 2022: This hearing focused on ensuring the safety, 
        soundness, diversity and accountability of depository 
        institutions and their prudential regulators.
    Subcommittee staff held briefings with each OMWI office to 
learn of recent work and progress in the 117th Congress.
    The Diversity and Inclusion Subcommittee held two separate 
hearings examining how OMWIs could advance diversity and 
inclusion in the private sector.
           ``By the Numbers: How Diversity Data Can 
        Measure Commitment to Diversity, Equity, and 
        Inclusion,'' March 15, 2021: This hearing focused on 
        the disclosure of data on diversity and inclusion and 
        how the lack of data prevents proper oversight at the 
        OMWIs.
           ``Unfinished Business: A Review of Progress 
        Made and a Plan to Achieve Full Economic Inclusion for 
        Every American,'' December 6, 2022: This hearing 
        summarized the work of the Diversity & Inclusion 
        subcommittee, including the three reports that examined 
        corporate diversity across the largest banks, insurance 
        companies and investment firms; as well as the need for 
        required diversity and inclusion data disclosures to 
        the OMWIs.
    The Committee considered the following legislation to 
address data disclosure to the OMWIs:
           H.R. 2123, the ``Diversity and Inclusion 
        Data Accountability and Transparency Act of 2021'' 
        introduced by Representative Beatty, which would 
        require certain regulated entities to report to the 
        Offices of Women and Minority Inclusion to allow that 
        office to carry out duties related to diversity 
        policies and practices.
    Workforce, Supplier, and Business Diversity Efforts Within 
Agencies and their Regulated Entities. The Diversity and 
Inclusion Subcommittee held five separate hearings examining 
workforce, supplier, and business diversity efforts within 
agencies and their regulated entities.
           ``Building Opportunity: Addressing the 
        Financial Barriers to Minority and Women-Owned 
        Businesses' Involvement in Infrastructure Projects,'' 
        February 3, 2022: This hearing focused on access to 
        credit and equity issues facing minority- and women-
        owned businesses.
           ``Unfinished Business: A Review of Progress 
        Made and a Plan to Achieve Full Economic Inclusion for 
        Every American,'' December 6, 2022: This hearing 
        summarized the work of the Diversity & Inclusion 
        subcommittee, including the three reports that examined 
        corporate workforce and supplier diversity across the 
        largest banks, insurance companies and investment 
        firms; as well as the need for required diversity and 
        inclusion data disclosures to the OMWIs.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``A Review of Diversity and Inclusion 
        Performance at America's Large Investment Firms,'' 
        December 9. 2021: This hearing focused on findings from 
        the Committee's report examining the diversity and 
        inclusion performance of the largest investment firms.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on topic This hearing 
        focused on findings from the Committee's report 
        examining the diversity and inclusion performance of 
        the largest investment property and casualty and life 
        insurance companies.
    The Committee considered the following legislation to 
address workforce and supplier diversity within agencies and 
their regulated entities:
           H.R. ___, the ``Disability Disclosure Act of 
        2022'' (Waters), which would require public companies 
        to include information on the disability status of 
        their employees in annual reports to shareholders and 
        the public.
           H.R. 7977, the ``Promoting Opportunities for 
        Non-Traditional Capital Formation Act'' introduced by 
        Representative Waters, which would amend the Securities 
        Exchange Act of 1934 to require the Advocate for Small 
        Business Capital Formation to provide educational 
        resources and host events to promote capital raising 
        options for traditionally under-represented small 
        businesses.
           H.R. ___, the ``Reporting for Equity and 
        Advancing Lending Act (REAL Act),'' which would amend 
        the Equal Credit Opportunity Act to require the Bureau 
        of Consumer Financial Protection to conduct an annual 
        analysis on lending to minority-owned businesses and 
        women-owned businesses by financial institutions.
           H.R. ___, the ``Advancing Technologies to 
        Support Inclusion Act,'' which would require the 
        Secretary of the Treasury to conduct a study on certain 
        technology challenges that minority depository 
        institutions and community development financial 
        institutions face in serving current and prospective 
        customers and would require Treasury to carry out a 
        grant program to address such challenges.
           H.R. ___, which would require States 
        participating in the State Small Business Credit 
        Initiative (SSBCI) to annually report information about 
        the contracts entered by such State, with women, 
        minority, veteran, and other business entities.
           H.R. ___, which would instruct the 
        Undersecretary of the Minority Business Development 
        Agency to provide equity investments for low-wealth 
        business owners.
           H.R. 6599, the ``Promoting Responsive 
        Inclusion and Diverse Engagement Act of 2022 (PRIDE Act 
        of 2022)'' introduced by Representative Williams, which 
        would amend the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act to expand the role of the 
        Office of Minority and Women Inclusion to also support 
        people who identify as lesbian, gay, bisexual, 
        transgender, or queer.
           H.R. 2123, the ``Diversity and Inclusion 
        Data Accountability and Transparency Act of 2021'' 
        introduced by Representative Beatty, which would 
        require certain regulated entities to report to the 
        Offices of Women and Minority Inclusion to allow that 
        office to carry out duties related to diversity 
        policies and practices.
    Recruitment, Retention and Promotion. The Diversity and 
Inclusion Subcommittee held nine separate hearings examining 
recruitment, retention and promotion of staff in the financial 
services sector.
           ``Unfinished Business: A Review of Progress 
        Made and a Plan to Achieve Full Economic Inclusion for 
        Every American,'' December 6, 2022: This hearing 
        summarized the work of the Diversity & Inclusion 
        subcommittee, including three reports that examined 
        corporate workforce and supplier diversity across the 
        largest banks, insurance companies and investment 
        firms.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``A Review of Diversity and Inclusion 
        Performance at America's Large Investment Firms,'' 
        December 9. 2021: This hearing focused on findings from 
        the Committee's report examining the diversity and 
        inclusion performance of the largest investment firms.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on findings from the 
        Committee's report examining the diversity and 
        inclusion performance of the largest investment 
        property and casualty and life insurance companies.
           ``Access Denied: Eliminating Barriers and 
        Increasing Economic Opportunity for Justice-Involved 
        Individuals,'' September 28, 2021: This hearing focused 
        on challenges facing those who are justice-involved. 
        Those are arrested and incarcerated are 
        disproportionately low-income and people of color.
           ``There's No Pride in Prejudice: Eliminating 
        Barriers to Full Economic Inclusion for the LGBTQ+ 
        Community,'' November 9, 2021: This hearing focused on 
        economic and financial inclusion barriers facing 
        individuals in the LGBTQ+ community, including wealth 
        inequality, challenges in locating safe and affordable 
        housing and employment in the financial sector.
           ``Diversity Includes Disability: Exploring 
        Inequities in Financial Services for Persons with 
        Disabilities, Including Those Newly Disabled Due to 
        Long-Term COVID,'' May 24, 2022: This hearing focused 
        on economic inclusion issues facing those who are 
        disabled, including challenges in accessing credit and 
        banking services, securing safe and affordable housing 
        and employment in the financial sector.
           ``Closing the Racial and Gender Wealth Gap 
        Through Compensation Equity,'' April 29, 2021: This 
        hearing focused on compensation equity and how if 
        achieved, it would support closing the racial and 
        gender wealth gap. The hearing also explored how pay 
        inequities impact recruitment and retention of staff.
           ``By the Numbers: How Diversity Data Can 
        Measure Commitment to Diversity, Equity, and 
        Inclusion,'' March 15, 2021: This hearing focused on 
        the disclosure of data on diversity and inclusion, 
        including workforce recruitment and retention, and how 
        the lack of data prevents proper oversight at the 
        OMWIs.
    The Committee considered the following legislation to 
address recruitment and retention of staff in the financial 
services sector:
           H.R. ___, the ``Disability Disclosure Act of 
        2022'' (Waters), which would require public companies 
        to include information on the disability status of 
        their employees in annual reports to shareholders and 
        the public.
           H.R. 6599, the ``Promoting Responsive 
        Inclusion and Diverse Engagement Act of 2022 (PRIDE Act 
        of 2022)'' introduced by Representative Williams, which 
        would amend the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act to expand the role of the 
        Office of Minority and Women Inclusion to also support 
        people who identify as lesbian, gay, bisexual, 
        transgender, or queer.
           H.R. 2123, the ``Diversity and Inclusion 
        Data Accountability and Transparency Act of 2021'' 
        introduced by Representative Beatty, which would 
        require certain regulated entities to report to the 
        Offices of Women and Minority Inclusion to allow that 
        office to carry out duties related to diversity 
        policies and practices.
           H.R.___, the ``Ensuring Pay Equity Act,'' 
        which would require the Offices of Minority and Women 
        Inclusion at the federal financial regulatory agencies 
        to conduct internal pay equity audits every two years 
        and to report those findings to Congress.
           H.R. ___, which would amend the Securities 
        Exchange Act of 1934 to require issuers to report 
        information relating to gender and racial pay equity, 
        and for other purposes. Additionally, this bill would 
        require issuers filing to the Securities and Exchange 
        Commission to conduct an audit on gender and racial pay 
        equity with respect to the compensation of the 
        employees every two years and disclose the results 
        every two years on their Form 10-K.
           H.R. ___, which would amend the Dodd-Frank 
        Wall Street Reform and Consumer Protection Act to 
        require certain pay equity audits, and for other 
        purposes. This bill would require the Offices of 
        Minority and Women Inclusion at the federal financial 
        regulatory agencies to conduct internal pay equity 
        audits every two years and to report those findings to 
        Congress.
           H.R. ___, introduced by Representative 
        Green, which would require public companies to conduct 
        an independent audit assessing: the issuer's policies 
        and practices on civil rights, equity, diversity, and 
        inclusion; how such policies and practices affect the 
        issuer's business; and whether the issuer had direct or 
        indirect ties to or profited from the institution of 
        slavery. Issuers must report assessment findings 
        through in its filings and on the company website. To 
        the extent that these institutions did have ties to or 
        benefit from slavery, they would be required to 
        disclose what steps they have taken to reconcile. 
        Additionally, the bill establishes the Offices of 
        Reparations Programs within the Department of the 
        Treasury Office of Reparations Programs to administer 
        programs related to down payment assistance, 
        homeownership, startup capital, and funded savings 
        programs for Black communities, as well other programs 
        determined appropriate by the Secretary in furtherance 
        of racial equity.
           H.R. 5911, the ``Fair Hiring in Banking 
        Act'' introduced by Representative Beatty, which would 
        amend the Federal Deposit Insurance Act and the Federal 
        Credit Union Act to expand employment opportunities for 
        those with a previous minor criminal offense.
    The Rooney Rule. The Diversity and Inclusion Subcommittee 
held four hearings examining the application of the Rooney 
Rule.
           ``Building Opportunity: Addressing the 
        Financial Barriers to Minority and Women-Owned 
        Businesses' Involvement in Infrastructure Projects,'' 
        February 3, 2022: This hearing focused on access to 
        credit and equity issues facing minority- and women-
        owned businesses.
           ``A Review of Diversity and Inclusion 
        Performance at America's Large Investment Firms,'' 
        December 9, 2021: This hearing focused on findings from 
        the Committee's report examining the diversity and 
        inclusion performance of the largest investment firms.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on findings from the 
        Committee's report examining the diversity and 
        inclusion performance of the largest investment 
        property and casualty and life insurance companies.
           ``By the Numbers: How Diversity Data Can 
        Measure Commitment to Diversity, Equity, and 
        Inclusion,'' March 15, 2021: This hearing focused on 
        the disclosure of data on diversity and inclusion, 
        including workforce recruitment and retention, and how 
        the lack of data prevents proper oversight at the 
        OMWIs.
    The Committee considered the following legislation to 
address the Rooney Rule's application in financial services:
           H.R. ___, ``Diverse Investment Advisers 
        Act'' (Beatty), which would require companies that 
        register and are registered with the SEC to consider at 
        least one diverse asset manager when contracting out 
        for asset management services and report to the SEC on 
        the extent to which they use diverse asset managers.
           H.R. ___, ``Diversity in Financial 
        Regulatory Advisory Committees Act,'' which would 
        require reporting of advisory committee demographics 
        and the consideration of at least one individual 
        reflective of gender diversity and one individual 
        reflective of racial or ethnic diversity when filling 
        advisory committee vacancies at the Department of 
        Treasury (including the Financial Stability Oversight 
        Council), Federal Reserve Board of Governors, Office of 
        the Comptroller of the Currency, Consumer Financial 
        Protection Bureau, Federal Housing Finance Agency, 
        National Credit Union Administration, SEC, and the 
        Federal Deposit Insurance Corporation.
           H.R. ___, would amend the Federal Home Loan 
        Bank Act to require the election committee to consider 
        at least one candidate that represents gender 
        diversity; and one candidate that represents racial 
        and/or ethnic diversity when electing candidates to the 
        board of directors of the bank.
    Vendor, Contractor, and Business Diversity. The Diversity 
and Inclusion Subcommittee held six separate hearings examining 
vendor, contractor, and business diversity.
           ``Building Opportunity: Addressing the 
        Financial Barriers to Minority and Women-Owned 
        Businesses' Involvement in Infrastructure Projects,'' 
        February 3, 2022: This hearing focused on access to 
        credit and equity issues facing minority- and women-
        owned businesses.
           ``Unfinished Business: A Review of Progress 
        Made and a Plan to Achieve Full Economic Inclusion for 
        Every American,'' December 6, 2022: This hearing 
        summarized the work of the Diversity & Inclusion 
        subcommittee, including the three reports that examined 
        corporate workforce and supplier diversity across the 
        largest banks, insurance companies and investment 
        firms; as well as the need for required diversity and 
        inclusion data disclosures to the OMWIs.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``A Review of Diversity and Inclusion 
        Performance at America's Large Investment Firms,'' 
        December 9. 2021: This hearing focused on findings from 
        the Committee's report examining the diversity and 
        inclusion performance of the largest investment firms.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on findings from the 
        Committee's report examining the diversity and 
        inclusion performance of the largest investment 
        property and casualty and life insurance companies.
           ``By the Numbers: How Diversity Data Can 
        Measure Commitment to Diversity, Equity, and 
        Inclusion,'' March 15, 2021: This hearing focused on 
        the disclosure of data on diversity and inclusion, 
        including workforce recruitment and retention, and how 
        the lack of data prevents proper oversight at the 
        OMWIs.
    The Committee considered the following legislation to 
support vendor, contractor, and business diversity:
           H.R. 7977, the ``Promoting Opportunities for 
        Non-Traditional Capital Formation Act'' introduced by 
        Representative Waters, which would amend the Securities 
        Exchange Act of 1934 to require the Advocate for Small 
        Business Capital Formation to provide educational 
        resources and host events to promote capital raising 
        options for traditionally under-represented small 
        businesses.
           H.R. ___, the ``Reporting for Equity and 
        Advancing Lending Act (REAL Act),'' which would amend 
        the Equal Credit Opportunity Act to require the Bureau 
        of Consumer Financial Protection to conduct an annual 
        analysis on lending to minority-owned businesses and 
        women-owned businesses by financial institutions.
           H.R. ___, the ``Advancing Technologies to 
        Support Inclusion Act,'' which would require the 
        Secretary of the Treasury to conduct a study on certain 
        technology challenges that minority depository 
        institutions and community development financial 
        institutions face in serving current and prospective 
        customers and would require Treasury to carry out a 
        grant program to address such challenges.
           H.R. ___, which would require States 
        participating in the State Small Business Credit 
        Initiative (SSBCI) to annually report information about 
        the contracts entered by such State, with women, 
        minority, veteran, and other business entities.
           H.R. ___, which would instruct the 
        Undersecretary of the Minority Business Development 
        Agency to provide equity investments for low-wealth 
        business owners.
           H.R. 6599, the ``Promoting Responsive 
        Inclusion and Diverse Engagement Act of 2022 (PRIDE Act 
        of 2022)'' introduced by Representative Williams, which 
        would amend the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act to expand the role of the 
        Office of Minority and Women Inclusion to also support 
        people who identify as lesbian, gay, bisexual, 
        transgender, or queer.
           H.R. 2123, the ``Diversity and Inclusion 
        Data Accountability and Transparency Act of 2021'' 
        introduced by Representative Beatty, which would 
        require certain regulated entities to report to the 
        Offices of Women and Minority Inclusion to allow that 
        office to carry out duties related to diversity 
        policies and practices.
    Public Companies. The Diversity and Inclusion Subcommittee 
held four separate hearings examining public companies and 
their commitments to diversity and inclusion.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``A Review of Diversity and Inclusion 
        Performance at America's Large Investment Firms,'' 
        December 9. 2021: This hearing focused on findings from 
        the Committee's report examining the diversity and 
        inclusion performance of the largest investment firms.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on findings from the 
        Committee's report examining the diversity and 
        inclusion performance of the largest investment 
        property and casualty and life insurance companies.
           ``By the Numbers: How Diversity Data Can 
        Measure Commitment to Diversity, Equity, and 
        Inclusion,'' March 15, 2021: This hearing focused on 
        the disclosure of data on diversity and inclusion and 
        how the lack of data prevents proper oversight at the 
        OMWIs.
    The Investor Protection, Entrepreneurship and Investor 
Protection Subcommittee held two hearings that addressed how 
public companies make disclosures related to diversity and 
inclusion:
           ``E, S, G and W: Examining Private Sector 
        Disclosure of Workforce Management, Investment, and 
        Diversity Data,'' December 8, 2022: This hearing 
        focused on the workforce side of ESG disclosures by 
        public companies, most notably human capital and 
        diversity related disclosures.
           ``Climate Change and Social Responsibility: 
        Helping Corporate Boards and Investors Make Decisions 
        for a Sustainable World,'' February 25, 2021: This 
        hearing focused primarily on environmental disclosures 
        by public companies, but also touched on diversity 
        disclosures as well.
    The Committee considered the following legislation to 
encourage public companies to advance diversity and inclusion:
           H.R. 1277, the ``Improving Corporate 
        Governance Through Diversity Act of 2021'' introduced 
        by Representative Meeks, which would require the 
        submission by issuers of data relating to diversity, 
        and for other purposes.
           H.R. ___, the ``Promoting Diversity and 
        Inclusion in Banking Act'' introduced by (Green), which 
        would require Federal banking regulators to include a 
        diversity and inclusion component in the Uniform 
        Financial Institutions Rating System and require 
        mandatory reporting of diversity and inclusion 
        assessments
           H.R. 2123, the ``Diversity and Inclusion 
        Data Accountability and Transparency Act of 2021'' 
        introduced by Representative Beatty, which would 
        require certain regulated entities to report to the 
        Offices of Women and Minority Inclusion to allow that 
        office to carry out duties related to diversity 
        policies and practices.
           H.R. ___, the ``Disability Disclosure Act of 
        2022'' (Waters), which would require public companies 
        to include information on the disability status of 
        their employees in annual reports to shareholders and 
        the public.
           H.R. 6599, the ``Promoting Responsive 
        Inclusion and Diverse Engagement Act of 2022 (PRIDE Act 
        of 2022)'' introduced by Representative Williams, which 
        would amend the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act to expand the role of the 
        Office of Minority and Women Inclusion to also support 
        people who identify as lesbian, gay, bisexual, 
        transgender, or queer.
           H.R. ___, introduced by Representative 
        Green, which would require public companies to conduct 
        an independent audit assessing: the issuer's policies 
        and practices on civil rights, equity, diversity, and 
        inclusion; how such policies and practices affect the 
        issuer's business; and whether the issuer had direct or 
        indirect ties to or profited from the institution of 
        slavery. Issuers must report assessment findings 
        through in its filings and on the company website. To 
        the extent that these institutions did have ties to or 
        benefit from slavery, they would be required to 
        disclose what steps they have taken to reconcile. 
        Additionally, the bill establishes the Offices of 
        Reparations Programs within the Department of the 
        Treasury Office of Reparations Programs to administer 
        programs related to down payment assistance, 
        homeownership, startup capital, and funded savings 
        programs for Black communities, as well other programs 
        determined appropriate by the Secretary in furtherance 
        of racial equity.
    Diverse Entrepreneurs and Access to Capital. The Diversity 
and Inclusion Subcommittee held six separate hearings examining 
access to capital and supports for diverse entrepreneurs.
           ``Building Opportunity: Addressing the 
        Financial Barriers to Minority and Women-Owned 
        Businesses' Involvement in Infrastructure Projects,'' 
        February 3, 2022: This hearing focused on access to 
        credit and equity issues facing minority- and women-
        owned businesses.
           ``Unfinished Business: A Review of Progress 
        Made and a Plan to Achieve Full Economic Inclusion for 
        Every American,'' December 6, 2022: This hearing 
        summarized the work of the Diversity & Inclusion 
        subcommittee, including the three reports that examined 
        corporate workforce and supplier diversity across the 
        largest banks, insurance companies and investment 
        firms; as well as the need for required diversity and 
        inclusion data disclosures to the OMWIs.
           ``The Legacy of George Floyd: An Examination 
        of Financial Services Industry Commitments to Economic 
        and Racial Justice,'' June 29, 2021: This hearing 
        focused on the commitments of large financial 
        institutions to address long-term racial injustice and 
        the investments committed to these issues.
           ``A Review of Diversity and Inclusion 
        Performance at America's Large Investment Firms,'' 
        December 9. 2021: This hearing focused on findings from 
        the Committee's report examining the diversity and 
        inclusion performance of the largest investment firms.
           ``A Review of Diversity and Inclusion at 
        America's Largest Insurance Companies,'' September 20, 
        2022: This hearing focused on findings from the 
        Committee's report examining the diversity and 
        inclusion performance of the largest investment 
        property and casualty and life insurance companies.
           ``By the Numbers: How Diversity Data Can 
        Measure Commitment to Diversity, Equity, and 
        Inclusion,'' March 15, 2021: This hearing focused on 
        the disclosure of data on diveristy and inclusion, 
        including workforce recruitment and retention, and how 
        the lack of data prevents proper oversight at the 
        OMWIs.
    The Fintech Task Force held one separate hearing examining 
diversity in the fintech ecosystem.
           ``Combatting Tech Bro Culture: Understanding 
        Obstacles to Investments in Diverse-Owned Fintechs,'' 
        June 30, 2022: This hearing focused on investigating 
        the lack of diversity in the VC ecosystem, challenges 
        faced by diverse fintech founders, the impact of 
        diverse-owned fintechs and VC funds on communities of 
        color, and what policy tools could be considered to 
        help promote greater VC funding for fintechs founded by 
        women and people of color.
    The Committee considered the following legislation to 
provide greater access to capital for diverse entrepreneurs:
           H.R. 7977, the ``Promoting Opportunities for 
        Non-Traditional Capital Formation Act'' introduced by 
        Representative Waters, which would amend the Securities 
        Exchange Act of 1934 to require the Advocate for Small 
        Business Capital Formation to provide educational 
        resources and host events to promote capital raising 
        options for traditionally under-represented small 
        businesses.
           H.R. ___, the ``Reporting for Equity and 
        Advancing Lending Act (REAL Act),'' which would amend 
        the Equal Credit Opportunity Act to require the Bureau 
        of Consumer Financial Protection to conduct an annual 
        analysis on lending to minority-owned businesses and 
        women-owned businesses by financial institutions.
           H.R. ___, the ``Advancing Technologies to 
        Support Inclusion Act,'' which would require the 
        Secretary of the Treasury to conduct a study on certain 
        technology challenges that minority depository 
        institutions and community development financial 
        institutions face in serving current and prospective 
        customers and would require Treasury to carry out a 
        grant program to address such challenges.
           H.R. ___, which would require States 
        participating in the State Small Business Credit 
        Initiative (SSBCI) to annually report information about 
        the contracts entered by such State, with women, 
        minority, veteran, and other business entities.
           H.R. ___, which would instruct the 
        Undersecretary of the Minority Business Development 
        Agency to provide equity investments for low-wealth 
        business owners.
           H.R. 6599, the ``Promoting Responsive 
        Inclusion and Diverse Engagement Act of 2022 (PRIDE Act 
        of 2022)'' introduced by Representative Williams, which 
        would amend the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act to expand the role of the 
        Office of Minority and Women Inclusion to also support 
        people who identify as lesbian, gay, bisexual, 
        transgender, or queer.

  DELINEATION OF COMMITTEE OVERSIGHT ACTIVITY PURSUANT TO CLAUSE 2 OF 
                                RULE XI

  DELINEATION OF COMMITTEE AND SUBCOMMITTEE HEARINGS HELD PURSUANT TO 
                 CLAUSES 2(N), (O), AND (P) OF RULE XI

    Clause 1(d) of rule XI of the Rules of the House of 
Representatives requires that the Committee delineate any 
hearings held pursuant to clause 2(n) of rule XI (relating to 
waste, fraud, abuse, or mismanagement in government programs 
authorized by the Committee), clause 2(o) of rule XI (relating 
to instances in which auditors have been unable to audit 
financial statements of agencies), or clause 2(p) of rule XI 
(relating to federal agencies or programs identified by the GAO 
as being subject to high risk of waste, fraud, and 
mismanagement). The following table complies with the 
requirement of clause 1(d) of rule XI:

------------------------------------------------------------------------
                                Title (Full Committee
          Serial No.               unless otherwise         Date(s)
                                      specified)
------------------------------------------------------------------------
117-3.........................  Game Stopped? Who              2/18/2021
                                 Wins and Loses When
                                 Short Sellers,
                                 Social Media, and
                                 Retail Investors
                                 Collide.
117-4.........................  Monetary Policy and            2/24/2021
                                 the State of the
                                 Economy.
117-10........................  Game Stopped? Who              3/17/2021
                                 Wins and Loses When
                                 Short Sellers,
                                 Social Media, and
                                 Retail Investors
                                 Collide, Part II.
117-12........................  Oversight of the               3/23/2021
                                 Treasury
                                 Department's and
                                 Federal Reserve's
                                 Pandemic Response.
117-22........................  Game Stopped? Who               5/6/2021
                                 Wins and Loses When
                                 Short Sellers,
                                 Social Media, and
                                 Retail Investors
                                 Collide, Part III.
117-25........................  Oversight of                   5/19/2021
                                 Prudential
                                 Regulators: Ensuring
                                 the Safety,
                                 Soundness,
                                 Diversity, and
                                 Accountability of
                                 Depository
                                 Institutions.
117-28........................  Holding Megabanks              5/27/2021
                                 Accountable: An
                                 Update on Banking
                                 Practices, Programs
                                 and Policies.
117-37........................  Monetary Policy and            7/14/2021
                                 the State of the
                                 Economy.
117-50........................  Oversight of the               9/30/2021
                                 Treasury
                                 Department's and
                                 Federal Reserve's
                                 Pandemic Response.
117-51........................  Oversight of the U.S.          10/5/2021
                                 Securities and
                                 Exchange Commission:
                                 Wall Street's Cop Is
                                 Finally Back on the
                                 Beat.
117-57........................  Bringing Consumer             10/27/2021
                                 Protection Back:
                                 Semi-Annual Review
                                 of the Consumer
                                 Financial Protection
                                 Bureau.
117-62........................  Oversight of the               12/1/2021
                                 Treasury
                                 Department's and
                                 Federal Reserve's
                                 Pandemic Response.
117-72........................  Monetary Policy and             3/2/2022
                                 the State of the
                                 Economy.
117-75........................  Oversight of                   3/30/2022
                                 America's Stock
                                 Exchanges: Examining
                                 Their Role in Our
                                 Economy.
117-78........................  The Annual Testimony            4/6/2022
                                 of the Secretary of
                                 the Treasury on the
                                 State of the
                                 International
                                 Financial System.
117-80........................  Consumers First: Semi-         4/27/2022
                                 Annual Report of the
                                 Consumer Financial
                                 Protection Bureau.
117-81........................  Oversight of the               4/28/2022
                                 Financial Crimes
                                 Enforcement Network.
117-84........................  The Annual Report of           5/12/2022
                                 the Financial
                                 Stability Oversight
                                 Council.
117-89........................  Monetary Policy and            6/23/2022
                                 the State of the
                                 Economy.
117-94........................  Oversight of the               7/19/2022
                                 SEC's Division of
                                 Enforcement.
117-97........................  When Banks Leave: The          9/14/2022
                                 Impacts of De-
                                 Risking on the
                                 Caribbean and the
                                 Strategies for
                                 Ensuring Financial
                                 Access.
117-100.......................  Holding Megabanks              9/21/2022
                                 Accountable:
                                 Oversight of
                                 America's Largest
                                 Consumer Facing
                                 Banks.
117-104.......................  Oversight of                  11/16/2022
                                 Prudential
                                 Regulators: Ensuring
                                 the Safety,
                                 Soundness,
                                 Diversity, and
                                 Accountability of
                                 Depository
                                 Institutions.
117-110.......................  Consumers First: Semi-        12/14/2022
                                 Annual Report of the
                                 Consumer Financial
                                 Protection Bureau.
------------------------------------------------------------------------


                   APPENDIX I--COMMITTEE LEGISLATION

               Appendix I--Committee Legislative Reports

------------------------------------------------------------------------
           Bill No.                H. Rept. No.            Title
------------------------------------------------------------------------
H.R. 166......................  117-459..........  Fair Lending for All
                                                    Act
H.R. 935......................  117-313..........  Small Business
                                                    Mergers,
                                                    Acquisitions, Sales,
                                                    and Brokerage
                                                    Simplification Act
                                                    of 2021
H.R. 1087.....................  117-53...........  Shareholder Political
                                                    Transparency Act of
                                                    2021
H.R. 1187.....................  117-54...........  Corporate Governance
                                                    Improvement and
                                                    Investor Protection
                                                    Act
H.R. 1188.....................  117-55...........  Greater
                                                    Accountability in
                                                    Pay Act of 2021
H.R. 1277.....................  117-230..........  Improving Corporate
                                                    Governance Through
                                                    Diversity Act of
                                                    2021
H.R. 1443.....................  117-65, 117-71,    LGBTQ Business Equal
                                 117-228.           Credit Enforcement
                                                    and Investment Act
H.R. 2123.....................  117-335..........  Diversity and
                                                    Inclusion Data
                                                    Accountability and
                                                    Transparency Act of
                                                    2021
H.R. 2516.....................  117-49...........  Promoting Diversity
                                                    and Inclusion in
                                                    Banking Act of 2021
H.R. 2543.....................  117-228, 117-65,   Federal Reserve
                                 117-366.           Racial and Economic
                                                    Equity Act
H.R. 2547.....................  117-23...........  Comprehensive Debt
                                                    Collection
                                                    Improvement Act
H.R. 2570.....................  117-39...........  Climate Risk
                                                    Disclosure Act of
                                                    2021
H.R. 3007.....................  117-52...........  Disclosure of Tax
                                                    Havens and
                                                    Offshoring Act
H.R. 3009.....................  117-370..........  Improving Language
                                                    Access in Mortgage
                                                    Servicing Act of
                                                    2021
H.R. 4586.....................  117-421..........  Risk-Based Credit
                                                    Examination Act
H.R. 4590.....................  117-229..........  Promoting New and
                                                    Diverse Depository
                                                    Institutions Act
H.R. 4616.....................  117-260..........  Adjustable Interest
                                                    Rate (LIBOR) Act of
                                                    2021
H.R. 4685.....................  117-231..........  Trading Isn't a Game
                                                    Act
H.R. 5911.....................  117-314..........  Fair Hiring in
                                                    Banking Act
H.R. 5914.....................  117-315..........  Empowering States to
                                                    Protect Seniors from
                                                    Bad Actors Act
H.R. 6528.....................  117-422..........  Housing Temperature
                                                    Safety Act of 2022
H.R. 6889.....................  117-517..........  Credit Union Board
                                                    Modernization Act
H.R. 6891.....................  117-318..........  Isolate Russian
                                                    Government Officials
                                                    Act of 2022
H.R. 6899.....................  117-316..........  Russia and Belarus
                                                    SDR Exchange
                                                    Prohibition Act of
                                                    2022
H.R. 7003.....................  117-351..........  Expanding Financial
                                                    Access for
                                                    Underserved
                                                    Communities Act
H.R. 7066.....................  117-319..........  Russia and Belarus
                                                    Financial Sanctions
                                                    Act of 2022
H.R. 7081.....................  117-317..........  Ukraine Comprehensive
                                                    Debt Payment Relief
                                                    Act of 2022
H.R. 7195.....................  117-423..........  To provide for
                                                    certain
                                                    whistleblower
                                                    incentives and
                                                    protections
H.R. 7196.....................  117-424..........  Flexibility in
                                                    Addressing Rural
                                                    Homelessness Act of
                                                    2022
H.R. 7733.....................  117-352..........  CDFI Bond Guarantee
                                                    Program Improvement
                                                    Act of 2022
H.R. 7734.....................  117-425..........  Timely Delivery of
                                                    Bank Secrecy Act
                                                    Reports Act
H.R. 7981.....................  117-426..........  Public and Federally
                                                    Assisted Housing
                                                    Fire Safety Act of
                                                    2022
------------------------------------------------------------------------

                        APPENDIX II--PUBLIC LAWS


                        Appendix II--Public Laws

    This table lists measures which contained matters within 
the jurisdiction of the Committee on Financial Services which 
were enacted into law during the 117th Congress.

------------------------------------------------------------------------
        Public Law No.               Bill No.              Title
------------------------------------------------------------------------
117-2.........................  H.R. 1319........  American Rescue Plan
                                                    Act of 2021, which
                                                    includes the
                                                    following measures,
                                                    as amended or
                                                    revised:
                                                      H.R. 1669,
                                                    the ``State Small
                                                    Business Credit
                                                    Initiative Renewal
                                                    Act''
                                                      H.R. 1682,
                                                    the ``Stabilizing
                                                    Rural Homeowners
                                                    During COVID Act of
                                                    2021''
                                                      H.R. 1706,
                                                    the ``Emergency
                                                    Homelessness
                                                    Assistance Act of
                                                    2021''
                                                      H.R. 1710,
                                                    the ``Coronavirus
                                                    Homeowner Assistance
                                                    Act of 2021''
                                                      H.R. 1719,
                                                    the ``Emergency
                                                    Tribal Housing
                                                    Assistance Act of
                                                    2021''
                                                      H.R. 1720,
                                                    the ``COVID-19
                                                    Medical Production
                                                    Act''
                                                      H.R. 1724,
                                                    the ``Emergency
                                                    Housing Voucher Act
                                                    of 2021''
                                                      H.R. 1725,
                                                    the ``Emergency
                                                    Assistance for
                                                    Renters Act of
                                                    2021''
                                                      H.R. 7301
                                                    (116th), the
                                                    ``Emergency Housing
                                                    Protections and
                                                    Relief Act of 2020''
117-24........................  S.J.Res. 15/       A joint resolution
                                 H.J.Res 35.        providing for
                                                    congressional
                                                    disapproval under
                                                    chapter 8 of title
                                                    5, United States
                                                    Code, of the rule
                                                    submitted by the
                                                    Office of the
                                                    Comptroller of
                                                    Currency relating to
                                                    ``National Banks and
                                                    Federal Savings
                                                    Associations as
                                                    Lenders''
117-32........................  H.R. 3325........  To award four
                                                    congressional gold
                                                    medals to the United
                                                    States Capitol
                                                    Police and those who
                                                    protected the U.S.
                                                    Capitol on January
                                                    6, 2021
117-38........................  H.R. 3642........  Harlem Hellfighters
                                                    Congressional Gold
                                                    Medal Act
117-58........................  H.R. 3684........  Infrastructure
                                                    Investment and Jobs
                                                    Act, which includes
                                                    the following
                                                    measure, as amended
                                                    or revised:
                                                      H.R. 2689,
                                                    the ``Minority
                                                    Business Development
                                                    Administration Act''
117-81........................  S. 1605/H.R. 4350  National Defense
                                                    Authorization Act
                                                    for Fiscal Year
                                                    2022, which includes
                                                    the following
                                                    measures, as amended
                                                    or revised:
                                                      H.R. 4111,
                                                    the ``Sovereign Debt
                                                    Contract Capacity
                                                    Act''
                                                      H.R. 5320,
                                                    the ``FinCEN
                                                    Exchange Improvement
                                                    Act''
                                                      H.R. 6328,
                                                    FinCEN Exam
                                                    Delegation Study
                                                      H.R. 6340,
                                                    To establish the
                                                    United States policy
                                                    on Burma at the
                                                    International
                                                    Monetary Fund, the
                                                    World Bank Group,
                                                    and the Asian
                                                    Development Bank,
                                                    and for other
                                                    purposes
                                                      H.R. 6343,
                                                    the ``Illicit
                                                    Finance Improvements
                                                    Act''
                                                      H.R. 6388,
                                                    the ``Combating
                                                    Terrorist and Other
                                                    Illicit Financing
                                                    Act''
117-84........................  S. 452/H.R. 2249.  Willie O'Ree
                                                    Congressional Gold
                                                    Medal Act
117-85........................  S.1404/H.R.......  Ghost Army
                                                    Congressional Gold
                                                    Medal Act
117-97........................  S. 321...........  `Six Triple Eight'
                                                    Congressional Gold
                                                    Medal Act of 2021
117-103.......................  H.R. 2471........  Consolidated
                                                    Appropriations Act,
                                                    2022, which includes
                                                    the following
                                                    measures, as amended
                                                    or revised:
                                                      H.R. 4616,
                                                    the ``Adjustable
                                                    Interest Rate
                                                    (LIBOR) Act of
                                                    2021''
                                                      H.R. 2311,
                                                    the ``Credit Union
                                                    Governance
                                                    Modernization Act of
                                                    2021''
117-132.......................  S. 1872..........  United States Army
                                                    Rangers Veterans of
                                                    World War II
                                                    Congressional Gold
                                                    Medal Act
117-162.......................  H.R. 1057........  Greatest Generation
                                                    Commemorative Coin
                                                    Act
117-185.......................  H.R. 6899........  Russia and Belarus
                                                    SDR Exchange
                                                    Prohibition Act of
                                                    2022
117-263.......................  H.R. 7776........  National Defense
                                                    Authorization Act
                                                    for Fiscal Year
                                                    2023, which includes
                                                    the following
                                                    measures, as amended
                                                    or revised:
                                                      H.R. 6549,
                                                    To provide support
                                                    for international
                                                    initiatives to
                                                    provide debt relief
                                                    to developing
                                                    countries with
                                                    unsustainable levels
                                                    of debt, and for
                                                    other purposes
                                                      H.R. 7081,
                                                    the ``Ukraine
                                                    Comprehensive Debt
                                                    Payment Relief Act
                                                    of 2022''
                                                      H.R. 5911,
                                                    the ``Fair Hiring in
                                                    Banking Act''
                                                      H.R. 2710,
                                                    the ``Banking
                                                    Transparency for
                                                    Sanction Persons Act
                                                    of 2021''
                                                      H.R. 7196,
                                                    the ``Flexibility in
                                                    Addressing Rural
                                                    Homelessness Act of
                                                    2022''
                                                      H.R. 2989,
                                                    the ``Financial
                                                    Transparency Act of
                                                    2021''
117-___.......................  H.R. 2617........  Consolidated
                                                    Appropriations Act,
                                                    2023, which includes
                                                    the following
                                                    measures, as amended
                                                    or revised:
                                                      H.R. 935,
                                                    the ``Small Business
                                                    Mergers,
                                                    Acquisitions, Sales,
                                                    and Brokerage
                                                    Simplification Act
                                                    of 2021''
                                                      H.R. 4865,
                                                    the ``Registration
                                                    for Index-Linked
                                                    Annuities Act''
                                                      H.R. 6015,
                                                    the ``Benjamin
                                                    Berell Ferencz
                                                    Congressional Gold
                                                    Medal Act''
                                                      H.R. 6285,
                                                    the ``Accelerating
                                                    Holding Foreign
                                                    Companies
                                                    Accountable Act''
                                                      H.R. 7195,
                                                    To Provide for
                                                    Certain
                                                    Whistleblower
                                                    Incentives and
                                                    Protections
                                                      H.R. 7981,
                                                    the ``Public and
                                                    Federally Assisted
                                                    Housing Fire Safety
                                                    Act of 2022''
------------------------------------------------------------------------

                  APPENDIX III--COMMITTEE PUBLICATIONS


------------------------------------------------------------------------
 
------------------------------------------------------------------------
117-1.........................  More than a Shot in     2/4/2021
                                 the Arm: The Need for
                                 Additional COVID-19
                                 Stimulus.
117-2.........................  Supporting Small and    2/4/2021
                                 Minority-Owned
                                 Businesses Through
                                 the Pandemic.
117-3.........................  Game Stopped? Who Wins  2/18/2021
                                 and Loses When Short
                                 Sellers, Social
                                 Media, and Retail
                                 Investors Collide.
117-4.........................  Monetary Policy and     2/24/2021
                                 the State of the
                                 Economy.
117-5.........................  How Invidious           2/24/2021
                                 Discrimination Works
                                 and Hurts: An
                                 Examination of
                                 Lending
                                 Discrimination and
                                 Its Long-term
                                 Economic Impacts on
                                 Borrowers of Color.
117-6.........................  Dollars Against         2/25/2021
                                 Democracy: Domestic
                                 Terrorist Financing
                                 in the Aftermath of
                                 Insurrection.
117-7.........................  Climate Change and      2/25/2021
                                 Social
                                 Responsibility:
                                 Helping Corporate
                                 Boards and Investors
                                 Make Decisions for a
                                 Sustainable World.
117-8.........................  Justice for All:        3/10/2021
                                 Achieving Racial
                                 Equity Through Fair
                                 Access to Housing and
                                 Financial Services.
117-9.........................  Slipping Through the    3/11/2021
                                 Cracks: Policy
                                 Options to Help
                                 America's Consumer
                                 During the Pandemic.
117-10........................  Game Stopped? Who Wins  3/17/2021
                                 and Loses When Short
                                 Sellers, Social
                                 Media, and Retail
                                 Investors Collide,
                                 Part II.
117-11........................  By the Numbers: How     3/18/2021
                                 Diversity Data Can
                                 Measure Commitment to
                                 Diversity, Equity and
                                 Inclusion.
117-12........................  Oversight of the        3/23/2021
                                 Treasury Department's
                                 and Federal Reserve's
                                 Pandemic Response.
117-13........................  Preserving a Lifeline:  3/24/2021
                                 Examining Public
                                 Housing in a Pandemic.
117-14........................  Ending Exploitation:    3/25/2021
                                 How the Financial
                                 System Can Work to
                                 Dismantle the
                                 Business of Human
                                 Trafficking.
117-15........................  Build Back Better:      4/14/2021
                                 Investing in
                                 Equitable and
                                 Affordable Housing
                                 Infrastructure.
117-16........................  Banking Innovation or   4/15/2021
                                 Regulatory Evasion?
                                 Exploring Trends in
                                 Financial Institution
                                 Charters.
117-17........................  The End of LIBOR:       4/15/2021
                                 Transitioning to an
                                 Alternative Interest
                                 Rate Calculation for
                                 Mortgages, Student
                                 Loans, Business
                                 Borrowing, and Other
                                 Financial Products.
117-18........................  Member Day Hearing:     4/27/2021
                                 Committee on
                                 Financial Services.
117-19........................  Examining the Role of   4/28/2021
                                 Municipal Bond
                                 Markets in Advancing--
                                 and Undermining--
                                 Economic, Racial and
                                 Social Justice.
117-20........................  Closing the Racial and  4/29/2021
                                 Gender Wealth Gap
                                 Through Compensation
                                 Equity.
117-21........................  Built to Last:          5/4/2021
                                 Examining Housing
                                 Resilience in the
                                 Face of Climate
                                 Change.
117-22........................  Game Stopped? Who Wins  5/6/2021
                                 and Loses When Short
                                 Sellers, Social
                                 Media, and Retail
                                 Investors Collide,
                                 Part III.
117-23........................  Equitable Algorithms:   5/7/2021
                                 How Human-Centered AI
                                 Can Address Systemic
                                 Racism and Racial
                                 Justice in Housing
                                 and Financial
                                 Services.
117-24........................  Examining Belt and      5/18/2021
                                 Road: The Lending
                                 Practices of the
                                 People's Republic of
                                 China and Impact on
                                 the International
                                 Debt Architecture.
117-25........................  Oversight of            5/19/2021
                                 Prudential
                                 Regulators: Ensuring
                                 the Safety,
                                 Soundness, Diversity,
                                 and Accountability of
                                 Depository
                                 Institutions.
117-26........................  Going Public: SPACs,    5/24/2021
                                 Direct Listings,
                                 Public Offerings, and
                                 the Need for Investor
                                 Protections.
117-27........................  Consumer Credit         5/26/2021
                                 Reporting: Assessing
                                 Accuracy and
                                 Compliance.
117-28........................  Holding Megabanks       5/27/2021
                                 Accountable: An
                                 Update on Banking
                                 Practices, Programs
                                 and Policies.
117-29........................  Universal Vouchers:     6/9/2021
                                 Ending Homelessness
                                 and Expanding
                                 Economic Opportunity
                                 in America.
117-30........................  Digitizing the Dollar:  6/15/2021
                                 Investigating the
                                 Technological
                                 Infrastructure,
                                 Privacy, and
                                 Financial Inclusion
                                 Implications of
                                 Central Bank Digital
                                 Currencies.
117-31........................  Flexible Federal        6/16/2021
                                 Funding: Examining
                                 the Community
                                 Development Block
                                 Grant Program and Its
                                 Impact on Addressing
                                 Local Challenges.
117-32........................  Schemes and             6/16/2021
                                 Subversion: How Bad
                                 Actors and Foreign
                                 Governments Undermine
                                 and Evade Sanctions
                                 Regimes.
117-33........................  A Biased, Broken        6/29/2021
                                 System: Examining
                                 Proposals to Overhaul
                                 Credit Reporting to
                                 Achieve Equity.
117-34........................  The Legacy of George    6/29/2021
                                 Floyd: An Examination
                                 of Financial Services
                                 Industry Commitments
                                 to Economic and
                                 Racial Justice.
117-35........................  America on ``FIRE'':    6/30/2021
                                 Will the Crypto
                                 Frenzy Lead to
                                 Financial
                                 Independence and
                                 Early Retirement or
                                 Financial Ruin?.
117-36........................  Addressing Climate as   6/30/2021
                                 a Systemic Risk: The
                                 Need to Build
                                 Resilience within Our
                                 Banking and Financial
                                 System.
117-37........................  Monetary Policy and     7/14/2021
                                 the State of the
                                 Economy.
117-38........................  CDBG Disaster           7/15/2021
                                 Recovery: States,
                                 Cities, and Denials
                                 of Funding.
117-39........................  I Am Who I Say I Am:    7/16/2021
                                 Verifying Identity
                                 while Preserving
                                 Privacy in the
                                 Digital Age.
117-40........................  Building Back A         7/20/2021
                                 Better, More
                                 Equitable Housing
                                 Infrastructure for
                                 America: Oversight of
                                 the Department of
                                 Housing and Urban
                                 Development.
117-41........................  Banking the Unbanked:   7/21/2021
                                 Exploring Private and
                                 Public Efforts to
                                 Expand Access to the
                                 Financial System.
117-42........................  Bond Rating Agencies:   7/21/2021
                                 Examining the
                                 ``Nationally
                                 Recognized''
                                 Statistical Rating
                                 Organizations.
117-43........................  The Promises and        7/27/2021
                                 Perils of Central
                                 Bank Digital
                                 Currencies.
117-44........................  NAHASDA                 7/27/2021
                                 Reauthorization:
                                 Addressing Historic
                                 Disinvestment and the
                                 Ongoing Plight of the
                                 Freedmen in Native
                                 American Communities.
117-45........................  Protecting Renters      9/10/2021
                                 During the Pandemic:
                                 Reviewing Reforms to
                                 Expedite Emergency
                                 Rental Assistance.
117-46........................  Preserving the Right    9/21/2021
                                 of Consumers to
                                 Access Personal
                                 Financial Data.
117-47........................  Lending in a Crisis:    9/23/2021
                                 Reviewing the Federal
                                 Reserve's Emergency
                                 Lending Powers During
                                 the Pandemic and
                                 Examining Proposals
                                 to Address Future
                                 Economic Crises.
117-48........................  Access Denied:          9/28/2021
                                 Eliminating Barriers
                                 and Increasing
                                 Economic Opportunity
                                 for Justice-Involved
                                 Individuals.
117-49........................  The Future of Banking:  9/29/2021
                                 How Consolidation,
                                 Nonbank Competition,
                                 and Technology are
                                 Reshaping the Banking
                                 System.
117-50........................  Oversight of the        9/30/2021
                                 Treasury Department's
                                 and Federal Reserve's
                                 Pandemic Response.
117-51........................  Oversight of the U.S.   10/5/2021
                                 Securities and
                                 Exchange Commission:
                                 Wall Street's Cop Is
                                 Finally Back on the
                                 Beat.
117-52........................  Beyond I, Robot:        10/13/2021
                                 Ethics, Artificial
                                 Intelligence, and the
                                 Digital Age.
117-53........................  Cashed Out: How a       10/14/2021
                                 Cashless Economy
                                 Impacts Disadvantaged
                                 Communities and
                                 Peoples.
117-54........................  Zoned Out: Examining    10/15/2021
                                 the Impact of
                                 Exclusionary Zoning
                                 on People, Resources,
                                 and Opportunity.
117-55........................  A Strong Foundation:    10/21/2021
                                 How Housing is the
                                 Key to Building Back
                                 a Better America.
117-56........................  Taking Stock of China,  10/26/2021
                                 Inc.: Examining Risks
                                 to Investors and the
                                 U.S. Posed by Foreign
                                 Issuers in U.S.
                                 Markets.
117-57........................  Bringing Consumer       10/27/2021
                                 Protection Bacl: Semi-
                                 Annual Review of the
                                 Consumer Financial
                                 Protection Bureau.
117-58........................  Buy Now, Pay More       11/2/2021
                                 Later? Investigating
                                 Risks and Benefits of
                                 BNPL and Other
                                 Emerging Fintech Cash
                                 Flow Products.
117-59........................  Cyber Threats,          11/3/2021
                                 Consumer Data, and
                                 the Financial System.
117-60........................  From Timber to          11/4/2021
                                 Tungsten: How the
                                 Exploitation of
                                 Natural Resources
                                 Funds Rogue
                                 Organizations and
                                 Regimes.
117-61........................  There's No Pride in     11/9/2021
                                 Prejudice:
                                 Eliminating Barriers
                                 to Full Economic
                                 Inclusion for the
                                 LGBTQ+ Community.
117-62........................  Oversight of the        12/1/2021
                                 Treasury Department's
                                 and Federal Reserve's
                                 Pandemic Response.
117-63........................  Digital Assets and the  12/8/2021
                                 Future of Finance:
                                 Understanding the
                                 Challenges and
                                 Benefits of Financial
                                 Innovation in the
                                 United States.
117-64........................  A Review of Diversity   12/9/2021
                                 and Inclusion
                                 Performance at
                                 America's Large
                                 Investment Firms.
117-65........................  Ensuring Equitable      1/19/2022
                                 Delivery of Disaster
                                 Benefits to
                                 Vulnerable
                                 Communities and
                                 Peoples: An
                                 Examination of GAO's
                                 Findings of the CDBG
                                 Program.
117-66........................  Housing America:        2/2/2022
                                 Addressing Challenges
                                 in Serving People
                                 Experiencing
                                 Homelessness.
117-67........................  Building Opportunity:   2/3/2022
                                 Addressing the
                                 Financial Barriers to
                                 Minority and Women-
                                 Owned Businesses'
                                 Involvement in
                                 Infrastructure
                                 Projects.
117-68........................  Digital Assets and the  2/8/2022
                                 Future of Finance:
                                 The President's
                                 Working Group on
                                 Financial Markets'
                                 Report on Stablecoins.
117-69........................  An Unprecedented        2/16/2022
                                 Investment for
                                 Historic Results: How
                                 Federal Support for
                                 MDIs and CDFIs Have
                                 Launched a New Era
                                 for Disadvantaged
                                 Communities.
117-70........................  The Role of the IMF in  2/17/2022
                                 a Changing Global
                                 Landscape.
117-71........................  Small Businesses, Big   2/17/2022
                                 Impact: Ensuring
                                 Small and Minority-
                                 Owned Businesses
                                 Share in the Economic
                                 Recovery.
117-72........................  Monetary Policy and     3/2/2022
                                 the State of the
                                 Economy.
117-73........................  The Inflation           3/8/2022
                                 Equation: Corporate
                                 Profiteering, Supply
                                 Chain Bottlenecks,
                                 and COVID-19.
117-74........................  Devalued, Denied, and   3/29/2022
                                 Disrespected: How
                                 Home Appraisal Bias
                                 and Discrimination
                                 are Hurting
                                 Homeowners and
                                 Communities of Color.
117-75........................  Oversight of America's  3/30/2022
                                 Stock Exchanges:
                                 Examining Their Role
                                 in Our Economy.
117-76........................  The End of Overdraft    3/31/2022
                                 Fees? Examining the
                                 Movement to Eliminate
                                 the Fees Costing
                                 Consumers Billions.
117-77........................  An Enduring Legacy:     4/5/2022
                                 The Role of Financial
                                 Institutions in the
                                 Horrors of Slavery
                                 and the Need for
                                 Atonement.
117-78........................  The Annual Testimony    4/6/2022
                                 of the Secretary of
                                 the Treasury on the
                                 State of the
                                 International
                                 Financial System.
117-79........................  A Matter of Life and    4/20/2022
                                 Death: Improving Fire
                                 Safety in Federally
                                 Assisted Housing.
117-80........................  Consumers First: Semi-  4/27/2022
                                 Annual Report of the
                                 Consumer Financial
                                 Protection Bureau.
117-81........................  Oversight of the        4/28/2022
                                 Financial Crimes
                                 Enforcement Network.
117-82........................  What's in Your Digital  4/28/2022
                                 Wallet? A Review of
                                 Recent Trends to
                                 Mobile Banking and
                                 Payments.
117-83........................  A Notch Above?          5/11/2022
                                 Examining the Bond
                                 Rating Industry.
117-84........................  The Annual Report of    5/12/2022
                                 the Financial
                                 Stability Oversight
                                 Council.
117-85........................  Keeping Up with the     5/13/2022
                                 Codes--Using AI for
                                 Effective RegTech.
117-86........................  Diversity Includes      5/24/2022
                                 Disability: Exploring
                                 Inequities in
                                 Financial Services
                                 for Persons with
                                 Disabilities,
                                 Including Those Newly
                                 Disabled Due to Long-
                                 Term COVID.
117-87........................  Reauthorization and     5/25/2022
                                 Reform of the
                                 National Flood
                                 Insurance Program.
117-88........................  Digital Assets and the  5/26/2022
                                 Future of Finance:
                                 Examining the
                                 Benefits and Risks of
                                 a U.S. Central Bank
                                 Digital Currency.
117-89........................  Monetary Policy and     6/23/2022
                                 the State of the
                                 Economy.
117-90........................  Where Have All the      6/28/2022
                                 Houses Gone? Private
                                 Equity, Single Family
                                 Rentals, and
                                 America's
                                 Neighborhoods.
117-91........................  Boom and Bust:          6/29/2022
                                 Inequality,
                                 Homeownership, and
                                 the Long-Term Impacts
                                 of the Hot Housing
                                 Market.
117-92........................  Combatting Tech Bro     6/30/2022
                                 Culture:
                                 Understanding
                                 Obstacles to
                                 Investments in
                                 Diverse-Owned
                                 Fintechs.
117-93........................  Better Together:        7/13/2022
                                 Examining the Unified
                                 Proposed Rule to
                                 Modernize the
                                 Community
                                 Reinvestment Act.
117-94........................  Oversight of the SEC's  7/19/2022
                                 Division of
                                 Enforcement.
117-95........................  Thoughts and Prayers    7/19/2022
                                 Are Not Enough: How
                                 Mass Shootings Harm
                                 Communities, Local
                                 Economies, and
                                 Economic Growth.
117-96........................  Housing in America:     7/20/2022
                                 Oversight of the
                                 Federal Housing
                                 Finance Agency.
117-97........................  When Banks Leave: The   9/14/2022
                                 Impacts of De-Risking
                                 on the Caribbean and
                                 the Strategies for
                                 Ensuring Financial
                                 Access.
117-98........................  Under the Radar:        9/20/2022
                                 Alternative Payment
                                 Systems and the
                                 National Security
                                 Impacts of Their
                                 Growth.
117-99........................  A Review of Diversity   9/20/2022
                                 and Inclusion at
                                 America's Largest
                                 Insurance Companies.
117-100.......................  Holding Megabanks       9/21/2022
                                 Accountable:
                                 Oversight of
                                 America's Largest
                                 Consumer Facing Banks.
117-101.......................  State of Emergency:     9/22/2022
                                 Examining the Impact
                                 of Growing Wildfire
                                 Risk on the Insurance
                                 Markets.
117-102.......................  Persistent Poverty in   11/15/2022
                                 America: Addressing
                                 Chronic Disinvestment
                                 in Colonias, the
                                 Southern Black Belt,
                                 and the U.S.
                                 Territories.
117-103.......................  Investing in our        11/15/2022
                                 Rivals: Examining
                                 U.S. Capital Flows to
                                 Foreign Rivals and
                                 Adversaries Around
                                 the World.
117-104.......................  Oversight of            11/16/2022
                                 Prudential
                                 Regulators: Ensuring
                                 the Safety,
                                 Soundness, Diversity,
                                 and Accountability of
                                 Depository
                                 Institutions.
117-105.......................  Boom and Bust: The      12/1/2022
                                 Need for Bold
                                 Investments in Fair
                                 and Affordable
                                 Housing to Combat
                                 Inflation.
117-106.......................  Unfinished Business: A  12/6/2022
                                 Review of Progress
                                 Made and a Plan to
                                 Achieve Full Economic
                                 Inclusion for Every
                                 American.
117-107.......................  An Enduring Legacy:     12/7/2022
                                 The Role of Financial
                                 Institutions in the
                                 Horrors of Slavery
                                 and the Need for
                                 Atonement, Part Two.
117-108.......................  E, S, G, and W:         12/8/2022
                                 Examining Private
                                 Sector Disclosure of
                                 Workforce Management,
                                 Investment, and
                                 Diversity Data.
117-109.......................  Investigating the       12/13/2022
                                 Collapse of FTX,
                                 Part1.
117-110.......................  Consumers First: Semi-  12/14/2022
                                 Annual Report of the
                                 Consumer Financial
                                 Protection Bureau.
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