The House Financial Services Committee advanced six bills and one resolution to the U.S. House of Representatives.
“Cumulatively, these bills take steps toward reducing unnecessary regulatory burdens to allow businesses to focus on their core operations and protect the health and security of our nation’s financial system,” Committee Chairman Rep. French Hill (R-AR) said. “These bills address the real challenges facing our financial sector while promoting innovation and growth.”
One of them is the TRIA Program Reauthorization Act of 2026 (H.R. 7128), sponsored by Housing and Insurance Subcommittee Chairman Rep. Mike Flood (R-NE).
This bill reauthorizes the Terrorism Risk Insurance Act (TRIA) to ensure the continued availability and affordability of terrorism risk coverage for businesses and insurers. It passed out of the committee by a vote of 51-2.
“This legislation extends the Terrorism Risk Insurance Program for seven additional years, providing greater certainty to insurers and policyholders alike,” Flood said. “This program, which was created in the wake of the horrific September 11th attacks in 2001, has thankfully never seen a claim since its inception. Our bill makes needed updates to the program that will make it work better if, God forbid, there is ever a need to use activate it. I want to thank Congressman Garbarino, Congressman Cleaver, Congresswoman Velazquez and Congresswoman Pressley for their partnership on this important issue.”
The committee also advanced the Community Bank Regulatory Tailoring Act of 2026 (H.R. 7056), sponsored by Financial Institutions Subcommittee Chairman Rep. Andy Barr (R-KY). This bill indexes various asset-based thresholds for bank regulations to nominal GDP for community banks and small credit unions to reduce unnecessary regulatory burdens that can limit lending. It passed 33-21.
The committee also passed the Combatting Money Laundering in Cyber Crime Act of 2026 (H.R. 5877), sponsored by Rep. Scott Fitzgerald (R-WI). The bill directs financial institutions and law enforcement agencies to improve coordination, information sharing, and investigative tools to better identify and prevent illicit financial activity linked to digital assets. It passed 54-0.
Another bill that advanced was the Financial Reporting Threshold Modernization Act (H.R. 1799), sponsored by Rep. Barry Loudermilk (R-GA). The bill modernizes financial reporting thresholds by updating them to reflect inflation. It was approved by a vote of 30-24
The Public Company Advisory Committee Act of 2025 (H.R. 6967), sponsored by Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity Chairman Rep. Frank Lucas (R-OK), also passed. The bill establishes a Public Company Advisory Committee at the Securities and Exchange Commission to provide public companies with a formal forum to offer input on policies affecting them. It passed 39-15.
Finally, H.R. 7085, a bill to amend the Securities Exchange Act of 1934 to repeal certain disclosure requirements related to conflict minerals, was approved. Sponsored by House Financial Services Committee Vice Chairman Rep. Bill Huizenga (R-MI), The bill seeks to reduce compliance costs for companies while maintaining investor protections and encouraging efficient corporate disclosure practices. It passed 30-24.
In addition, the committee advanced H. Res. 1007, resolution related to the use of artificial intelligence in the financial services and housing industries. The resolution, offered by Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee Chairman Steil (R-WI), acknowledges AI’s expanding role in the financial services and housing sectors. It underscores the importance of appropriate oversight, enforcement, and consumer protections, while affirming a pro-innovation approach. It passed 54-0.