Delivering for American Consumers: A Review of FinTech Innovations & Regulations... (EventID=118806)

Connect with the House Financial Services Committee
» Get the latest news: https://democrats-financialservices.h...
» Follow us on Facebook:   / ushousefsc  
» Follow us on Twitter: https://x.com/USHouseFSC
» Follow us on Instagram:   / ushousefsc  
» Follow us on Bluesky: https://bsky.app/profile/ushousefsc.b...
___________________________________

» Subscribe:    / @ushousefsc  
___________________________________

Tuesday, January 13, 2026, at 10:00 a.m. (ET) Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chair Congressman Steil and Ranking Member Congressman Lynch will hold a joint hearing entitled, “Delivering for American Consumers: A Review of FinTech Innovations and Regulations."

___________________________________

Witnesses for this one-panel hearing will be:

● Ms. Jodie Kelley, Chief Executive Officer, Electronic Transactions Association

● Mr. Kevin Lefton, Global General Counsel, Stream

● Mr. Ram Palaniappan, Founder and Chief Executive Officer, EarnIn

● Mr. Todd Zywicki, Law Professor, George Mason University Antonin Scalia Law School

● Ms. Delicia Reynolds Hand, Senior Director, Digital Marketplace, Consumer Reports

___________________________________

This hearing will examine the current financial technology (FinTech) landscape and how these products fit within the U.S. financial system and regulatory framework. The hearing will highlight how FinTech partnerships can expand the products and services offered by smaller financial institutions, while also evaluating legal and regulatory considerations, as well as exploring benefits of FinTech products and services to consumers.

Legislation Noticed

1. H.R. ____, the Earned Wage Access Consumer Protection Act (Steil): This discussion draft provides a clear federal framework for Earned Wage Access (EWA) service providers. It clarifies that earned wages provided to consumers through EWA products are not considered credit, and any fees, tips, or donations paid by a consumer to an EWA provider are not considered finance charges.

2. H.R. ___, the Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision (FUTURES) Act (Stutzman): This discussion draft requires prudential regulators to individually assess their internal supervisory technologies, as well as their ability to upgrade these technologies, as necessary. The discussion draft requires agencies to then coordinate and submit a single report to Congress detailing their systems, procurement practices, technology workforce, data collection and sharing processes, challenges in sharing and collecting data, and plans for future upgrades to their supervisory technology.

3. H.R. ____, the Financial Services Innovation Act of 2026 (Moore): This discussion draft requires federal regulators to create Financial Services Innovation Offices (FSIOs) within their agencies to foster innovation in financial services. Once established, companies may apply for an “enforceable compliance agreement” with the respective FSIOs that, if accepted, will allow them to provide an innovative product or service under an alternative compliance plan.

4. H.R. ____, the Model Risk Management Modernization Act: This discussion draft directs federal financial regulators to clarify how existing model risk management guidance applies to activities that make substantial use of artificial intelligence and, where appropriate, to issue or update guidance accordingly.

___________________________________
Hearing page: https://democrats-financialservices.h...