“We applaud Chairman Hill, Subcommittee Chairman Barr, and the House Financial Services Committee for their continued work in advancing a thoughtful legislative agenda that strengthens regulatory modernization through accountability and appropriate regulatory requirements in a manner that supports and encourages responsible financial innovation.

“Specifically, the FAIR Exams Act, the TAILOR Act, and the FIRM Act are timely, common-sense bills that reflect the Committee’s continued commitment to ensuring that financial regulation is proportional, transparent, and focused on material risk. These measures will empower both responsible fintech companies and innovative banks to serve more consumers and small businesses—safely, fairly, and efficiently.

“As Chairman Hill noted, today is an opportunity to ensure the United States remains the global leader in financial innovation and opportunity. AFC is proud to support legislative efforts that modernize supervision, promote consistency across regulators, and foster a more resilient and inclusive financial system.

“We look forward to sharing our full analysis of the FAIR Exams Act tomorrow and continuing our work with Congress to advance policies that reflect the realities of today’s financial ecosystem.”

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