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America’s Credit Unions Support Arkansas Rep. Hill’s Plan to Make ‘Banking Great Again’

Rep. Hill is looking for feedback on new banking principles to guide legislation for the 119th Congress.

By Michael Ogden | November 15, 2024 at 04:00 PM

Fresh off his re-election victory last week, Rep. French Hill (R-Ark.) laid out a series of “banking principles” on Thursday to help guide the next Republican-controlled Congress beginning in 2025. Rep. Hill’s principles range from rolling back what he calls regulatory “weaponization” by the Biden-Harris Administration to raising the $10 billion threshold for financial institutions subject to the CFPB supervisory authority.

As part of Rep. Hill’s banking principles push, the lawmaker also sent letters to federal regulators, including the CFPB and NCUA, demanding the agencies “immediately halt” all ongoing rulemaking. Hill wrote, “As a matter of transparency and public accountability, each of your agencies should abandon any action or plan to force through a politicized regulatory agenda, which voters have already rejected. It is in the interest of all Americans that this agenda be halted immediately in order to restore the balance between the government and the people it serves.”

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