Industry Leadership Changes In Washington, DC, And 2025 Priorities

As the 119th Congress begins, significant legislative shifts driven by leadership changes and industry demands will greet the banking industry. Sen. Tim Scott, R-S.C., will serve as chairman of the Senate Banking, Housing, and Urban Affairs Committee, and Rep. French Hill, R-Ark., a former community banker, was elected to lead the House Financial Services Committee. Both promise to bring a focus different from prior committee leadership.

In early January, Scott released his priorities for the Senate Banking Committee. Under his leadership, the committee will work on legislation to promote financial inclusivity and opportunity to responsibly advance affordable housing. There will also be renewed focus on increasing access to capital for entrepreneurs and small businesses, as well as a push to expand investment opportunities for retail investors. These priorities, and others laid out by Scott, will bring a renewed examination of regulatory proposals and careful