Representative French Hill, R-Ark., has been elected as the next chairman of the House Financial Services Committee, following a vote by the House Republican Steering Committee.
In a statement, Hill thanked his colleagues and acknowledged his fellow Republicans who had also vied for the seat including Reps. Andy Barr, R-Ky., Bill Huizenga, R-Mich., and Frank Lucas, R-Okla.
"I am humbled that my colleagues have placed their trust in me to lead the House Financial Services Committee as their next chairman," he said. "I look forward to working alongside Speaker Mike Johnson, Majority Leader Steve Scalise, Majority Whip Tom Emmer, House Republican Conference Chair Lisa McClain, and our whole leadership team as we work in tandem with President Trump and Senate Banking Committee Chairman Tim Scott to bring common-sense economic policies that will produce a new era of American prosperity shared by all our citizens across our land."
The Arkansas congressman — who was previously the committee vice chair and also led the Subcommittee on Digital Assets, Financial Technology and Inclusion — will likely focus on shaping financial policies that align with the GOP's broader agenda under the Trump administration.
A former banker and community bank CEO, Hill is a pragmatic and business friendly advocate for a tailored regulatory approach. For him, that includes ensuring bank regulation differentiates between small community banks and large, complex financial institutions. He emphasizes the need to trim redundant regulatory measures and ensure rules are practical and limited.
As chairman of the House Financial Services Committee, Hill's priorities are likely to include scrutiny toward bank agency rulemaking, reducing costs for businesses, promoting data privacy and instituting market-driven solutions for issues like the shortage of affordable housing nationwide.
Hill has also developed a reputation for leadership on digital asset regulation, particularly through his "
Hill also recently unveiled a policy blueprint known as his "Make Community Banking Great Again" plan, which outlines Republican priorities for community banking under a GOP administration. Hill's proposals emphasize easing regulations for community banks, improving access to capital, facilitating fintech partnerships and reforming bank resolution processes. He advocates repealing recent Federal Deposit Insurance regulations on brokered deposits and decoupling climate stress testing from banks' capital requirements. Hill also supports tax incentives for small banks and expedited bank merger approvals. While some measures require bipartisan support, Hill anticipates alignment on issues like addressing consolidation concerns, which echo critiques from Democrats like Sen. Elizabeth Warren.
The outgoing chairman of the committee, Patrick McHenry, R-N.C., praised Hill as a trusted ally and expressed confidence in his leadership,
"French's experience in the private sector, the Treasury Department and as vice chair have prepared him for this role," he said. "From stepping in on my behalf multiple times to lead committee Republicans to spearheading the landmark FIT21, Congressman Hill has proven his capacity to lead this committee. Chairman-designate Hill is the right person to guide this talented group of lawmakers, and I know the committee is in good hands."
Hill's selection also garnered immediate support from financial trade groups. Jim Nussle, president and CEO of America's Credit Unions, called Hill a "friend of the credit union movement" and expressed support for his agenda.
"America's Credit Unions congratulates Congressman French Hill for securing the chairman's gavel for the Financial Services Committee in the 119th Congress," Nussle said in a statement. "As a friend of the credit union movement, we couldn't be more thrilled to have Congressman Hill advancing the industry's priorities with the important work this committee takes on."
Chris Furlow, president and CEO of the Texas Bankers Association, similarly praised Hill and his priorities in a statement congratulating him on his selection to lead the committee.
"French Hill knows that banks of every size — especially community banks — are critical to the success of small businesses and local economies," Furlow said. "Chairman-elect Hill's reform-minded plan for banking will empower America's hometowns rather than feed Washington's insatiable bureaucracy. With experience as a banker and strong Texas delegation relationships, the Texas Bankers Association is excited about the energy and common-sense leadership French will bring to the Financial Services Committee."
