Senate Banking Committee Republicans Outline Priorities
Senator Tim Scott (R-SC), Ranking Member of the Senate Banking Committee, outlined the Committee's Republican agenda for the 118th Congress. Priorities include:
- reducing barriers and promoting access to credit: promoting safe innovation that helps break down access barriers, focusing primarily on consumers that are underbanked or "credit invisible";
- increasing access to capital formation and fostering innovation: exploring ways to foster innovation and expand retail investment opportunities for everyday investors;
- enabling financial success: improving financial literacy and promote programs that help provide access to financial literacy tools;
- regulatory oversight: preventing regulatory agencies from continuing to pursue progressive agendas that extend beyond each agency's statutory authority;
- protecting U.S. national and economic security: taking steps to ensure that economic sanctions, illicit finance protections and export controls continue to reflect U.S. national security interests;
- responsibly advancing housing opportunity: seeking common sense, bipartisan solutions that encourage responsible homeownership, encouraging "local solutions to uniquely local problems"; and
- developing a framework for digital assets: working to facilitate a bipartisan regulatory framework that protects customer assets, addresses regulatory gaps and fixes concerns with illicit finance.