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U.S. House of Representatives
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What is said in the sittings, update by update, the latest first. Each update opens the video at the second it was said.
Upon reconvening, the committee conducts all postponed recorded votes on amendments and final passage for each bill, formally reporting most measures while rejecting the FHLB AHP increase and several Democratic amendments, authorizing technical changes, setting deadlines for additional views, and adjourning the markup.
Members evaluate a HUD‑run national eviction helpline pilot for renters in federally assisted housing, which garners broad bipartisan support, and a proposal to statutorily raise Federal Home Loan Bank Affordable Housing Program contributions from 10% to 15% of net income, which faces concerns about crowding out voluntary programs and is ultimately rejected on a recorded vote despite adoption of an ANS.
In this chapter
The committee considers legislation centralizing federal Bitcoin and digital asset holdings at Treasury and creating a 20‑year strategic Bitcoin reserve, with Republicans emphasizing modernization of strategic reserves and Democrats warning of volatility, systemic risk, and alleged Trump‑linked conflicts of interest, including a defeated amendment to bar presidential‑family mining compensation before final advancement of the bill.
Members debate Chair Barr’s CID Reform Act on civil investigative demands, statutes of limitation, and due process constraints on CFPB investigations, then a sweeping CFPB restructuring bill revising funding, rulemaking standards, UDAAP scope, supervisory reach, and product‑specific provisions; Democrats portray both as efforts to weaken or dismantle the Bureau, offer multiple consumer‑protection amendments that fail, and both ANSs are adopted and reported largely on party‑line votes.
In this chapter
The committee examines the CLEAR Forms Act on SEC‑mandated simplified annuity and insurance disclosures and related constraints on SEC authority, followed by the American Lending Fairness Act clarifying interest‑rate exportation by state‑chartered banks under DIDMCA, with sharp partisan divides over consumer protection, rent‑a‑bank risks, and federal–state balance before advancing both measures subject to recorded votes.
In this chapter
Members first debate temporary FHA access for psychiatric and mental health hospitals to address bed shortages, safeguards, and GAO‑identified risks, then consider the TRAPS Act establishing a Treasury‑led interagency and public‑private task force on payment scams, including AI‑enabled fraud, with broad bipartisan backing and votes queued for the later voting block.
In this chapter
The chair and ranking member outline the full markup agenda, procedural framework, and partisan priorities on housing, CFPB authority, fraud, crypto, and other financial services bills, setting the context for subsequent debates and amendments.
The Semi-Annual Report of the Bureau of Consumer Financial Protection
Final exchanges probe CFPB’s jurisdiction over attorneys, relocation orders and potential shrinking of the CFPB workforce, questions about complaints and oversight related to Trump‑linked meme coins, and conclude with a minority request for an additional hearing day, a defeated subpoena motion, and instructions for written follow‑up before adjournment.
In this chapter
The Semi-Annual Report of the Bureau of Consumer Financial Protection
The hearing widens to disputes over alleged impoundments of infrastructure funds, CFPB’s self‑funding model, and Trump-era anti‑fraud and AI initiatives, then returns to CFPB-specific issues including perceived case dumping and web archiving, mass revocation of guidance, constitutional challenges to presidential impoundment theories, downgraded CFPB cybersecurity, delayed community‑finance funding, and criticism that Vought’s cooperative approach has produced an enforcement drought in high‑risk markets.
In this chapter
The Semi-Annual Report of the Bureau of Consumer Financial Protection
Members debate whether Vought’s humility framework is consumer protection or capitulation to industry, argue over Dodd‑Frank’s delegation and the need to codify cost‑benefit and statutory limits, and confront him with data on dropped enforcement actions and rescinded medical debt credit‑reporting protections, alongside privacy concerns around 1071 data, DOJ/DOGE system access, and the role of appropriations and the APA in constraining CFPB authority.
In this chapter
The Semi-Annual Report of the Bureau of Consumer Financial Protection
Questioning turns to how CFPB defines material consumer harm under UDAAP, scales back but still implements Section 1071 data, manages risks from household debt and non‑bank lenders, and addresses statutory limits on novel legal theories, with additional focus on the Office of Minority and Women Inclusion, CDFI timing, and CFPB’s coordination of exams with prudential and state regulators.
In this chapter
The Semi-Annual Report of the Bureau of Consumer Financial Protection
Members scrutinize CFPB’s handling of credit‑repair spam, the structure and use of the civil penalty fund, alleged “sue‑and‑settle” abuses, and rollback of Section 1071 data fields, while Democrats accuse Vought of importing Project 2025 goals and neglecting enforcement, culminating in sharp exchanges over congressional oversight of civil investigative demands and CFPB’s stance on Binance, Trump’s USD1 stablecoin, and related conflicts of interest.
In this chapter
The Semi-Annual Report of the Bureau of Consumer Financial Protection
Initial questioning probes CEA claims that CFPB rules raised borrowing costs, Vought’s remote and risk‑based supervision model, serious concerns over DOGE access to CFPB data and document deletions, debate over the “humility pledge,” immigration status in credit decisions, and congressional options to make CFPB policy and funding reforms durable through appropriations and codified standards.
In this chapter
The Semi-Annual Report of the Bureau of Consumer Financial Protection
Committee leadership and Acting Director Vought frame the hearing, with Republicans emphasizing CFPB overreach and structural reform and Democrats warning of efforts to dismantle the Bureau, followed by Vought’s presentation of his semi‑annual report and agenda of “humility, accountability, and fiscal restraint.”
In this chapter
In a voting block, the committee conducts electronic recorded votes on contested Democratic amendments to SEC, CFPB, credit‑access, and EWA provisions, defeating all of them, then formally adopts the principal substitutes and orders all major measures, H.R. 1483, 9329, 7187, 5775, 5402, 9331, 9330, and 1640, favorably reported to the House before adjourning after acknowledging visiting interns and guests.
Members consider H.R. 1640, the HEIRS Act, to incentivize state adoption of the Uniform Partition of Heirs Property Act and fund legal and counseling services so families, particularly in Black Belt, Indigenous, Appalachian and farming communities, can clear titles, avoid predatory partition sales, and unlock land equity, with bipartisan support, acknowledgement of overlaps with other federal aid and income‑limit issues to refine before floor consideration, adoption of the substitute, and scheduling of a recorded vote to report the bill.
The committee advances bipartisan H.R. 9331 to amend the Expedited Funds Availability Act to allow targeted holds on suspected fraudulent checks and wires, balancing fraud prevention with timely access to funds under CFPB and Federal Reserve guardrails and adopting the substitute without amendment, then after recess takes up H.R. 9330 to create a federal framework treating earned wage access products as non‑credit with fee, tipping, and preemption provisions that Republicans defend and Democrats challenge with failed amendments to cap fees and narrow preemption, while a bipartisan amendment limiting advances to actually earned wages is adopted before the bill is ordered reported by recorded vote.
In this chapter
Loudermilk’s H.R. 5775 to cap FCRA class‑action damages and fees is debated as Republicans target abusive litigation and Democrats stress pervasive credit report errors and the need for strong remedies, defeating a Waters amendment to bolster CFPB staffing before adopting the substitute and ordering the bill reported; the committee then takes up H.R. 8141 to limit reseller liability for inaccurate merged credit files while preserving accuracy obligations, rejecting a CFPB‑oversight amendment and withdrawing a notice amendment after assurances of further work, and subsequently turns to H.R. 5402 to expand use of utility, telecom, and rental data to reduce credit invisibility, where Democrats press for opt‑in and state‑law protections and lose amendments on CFPB staffing, consent, and state safeguards before advancing the substitute and planning a recorded vote.
In this chapter
The committee considers H.R. 9329 to overhaul SEC procedures, expand cost‑benefit analysis and GAO review, strengthen cybersecurity, and fold the PCAOB into the SEC, as Democrats argue it dilutes enforcement and penalties while Republicans frame it as anti‑crony capitalism; Democratic amendments on narrowing titles and requiring AI/digital asset analysis are defeated before adopting the substitute and ordering the bill reported, after which a narrower bipartisan bill, H.R. 7187, is advanced to clarify that personal services entities receiving registered representatives’ compensation are not brokers, subject to supervision and investor protections, with the substitute adopted and a recorded vote requested.
In this chapter
Members first reauthorize the Task Force on Monetary Policy with bipartisan emphasis on Federal Reserve and Treasury market oversight and protection of Fed independence, then debate H.R. 1483 restricting SEC use of personally identifiable information in the Consolidated Audit Trail, with Republicans citing cybersecurity and privacy risks and Democrats warning of weakened insider‑trading and manipulation enforcement, leading to adoption of a substitute and scheduling of a recorded vote.
In this chapter
The chair opens the markup, outlines the full agenda of financial services bills, and sets procedural rules, followed by Ranking Member Waters’ opening statement sharply criticizing Trump‑era economic policies and Republican bills for weakening the CFPB and consumer protections while contrasting Democratic priorities on housing, wealth building, and eviction prevention.
In this chapter
The chair closes the hearing by setting deadlines for additional written questions and responses, thanking participants, and formally adjourning the session.
The final member rounds examine weaknesses in the current system and preserving regional independence, options to elevate Reserve Bank voices and avoid groupthink, the Fed’s role in payments, privacy, stablecoins and digital assets, and how supervision and academic preparedness can support small‑business credit access and emerging cyber risks.
In this chapter
Follow‑up questioning focuses on ensuring representative Reserve Bank boards, crisis response and AI disruption, lessons from the Fed’s 2021 inflation misjudgment and the value of dissent, limits of monetary policy in addressing affordability, potential AI‑driven deflation, and the Beige Book process for integrating regional intelligence with macro data and historical lessons.
In this chapter
Members’ initial questions probe how decentralization and sector expertise affect policy, whether modern data and AI could replace a large regional network, the optimal number and boundaries of Reserve Banks, the Fed’s supervision and discount window role, CBDC and FedNow work, and how regional data and advisory councils inform FOMC decisions.
In this chapter
Witnesses Hoenig, George, Kelly, and Keen deliver prepared statements defending the regional Reserve Bank model, stressing its role in representing diverse sectors and geographies, maintaining independence from political pressure, and strengthening research, communication, and Main Street connectivity.
In this chapter
The chair opens the Oklahoma City field hearing, sets procedural rules, outlines the agenda, and situates the inquiry within the history and legal foundations of the Federal Reserve’s federated structure before formally introducing the witnesses and time limits.
In this chapter
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U.S. House of Representatives broadcasts the sittings of the House Financial Services. Polyfact shows each one live, keeps it as a replay with its transcript and links its key moments to the second they were said.
9 sittings on Polyfact since 17 September 2025
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