House Financial Services Committee Chairman French Hill (AR-02) delivered the following statement, as prepared for delivery, at today's markup of various bills that strengthen community banking, expand access to capital, and more.

"Good morning. During our past five months of the 119th Congress, this Committee has been hard at work examining solutions to improve the quality and condition of financial regulation to empower access to capital for American businesses – large and small.

"Today, we will continue that work by marking up several bills to strengthen community banking in America, relieve small businesses from the strain of harmful overregulation, expand access to capital, and more.

"Before we get started, I’d like to address an issue Ranking Member Waters raised regarding the Majority not meeting our deadlines for ensuring amendments are available to the public within 24 hours of the markup.

"She is correct – mistakes were made. Members should have the maximum amount of time to review text prior to the markup.

"The Committee works best when we work together in a transparent way.

"Moving forward – I have directed my staff to be extra diligent in meeting Committee deadlines to ensure that this mistake does not turn into a trend.

"We appreciate her and her staff working with us on several of the bipartisan priorities before the committee today.

"With that, let’s get started.

"Last November, I released a set of principles to 'Make Community Banking Great Again.'

"I’m pleased that some of these ideas have come to life in the form of important legislation which we’re considering today.

"Bills such as my FAIR Exams Act, which boosts transparency in bank exams, sets clear timelines, and establishes an independent supervisory appeals process for disputes.

"We will also consider the Financial Integrity and Regulation Management (FIRM) Act, which aims to prevent politicization of bank supervision and ensure regulatory focus remains on material risks related to safety and soundness; as well as the Bank Failure Prevention Act which ensures timely decisions on bank mergers by defining when applications are complete and setting deadlines for their review.

"Mr. Barr has done a wonderful job leading our Financial Institutions Subcommittee, and I’m pleased to see that work being highlighted today and the work of his subcommittee members.

"We have all heard, and seen, first-hand how important access to capital is. It fuels growth, innovation, and opportunity across America.

"That’s why we are also considering several bills from the Capital Markets Subcommittee, ably chaired by Mrs. Wagner. Many of these bills are bipartisan and we’ve worked with the Ranking Member, her staff, and members across the aisle.

"One of Chair Wagner’s bills, the Increasing Investor Opportunities Act, will expand the ability of closed-end funds to invest in private markets – providing everyday investors more ways to diversify their portfolios and access well-regulated and high-growth opportunities.

"Every bill under consideration today is aimed at strengthening our economy, supporting American consumers and businesses, and ensuring our banking system, especially community banks, remain strong.

"Today is an opportunity to ensure the United States remains the global leader in financial innovation and opportunity.

"I look forward to taking the first step to move these commonsense bills forward."