Arkansas’ French Hill to be Next Chairman of the US House Financial Services Committee

U.S. Rep. French Hill (Madison Ogle)

U.S. Rep. French Hill is set to become the next chair of the House Financial Services Committee after winning the endorsement of the GOP’s steering committee Thursday.

The steering committee is a panel of more than 30 elected Republican leaders and regional representatives in the U.S. House of Representatives that recommend chairs to the full Republican conference for formal approval. Following the committee’s recommendations, the the House Republican Conference will likely ratify chair picks in the coming days.

Hill, a Republican from Little Rock, beat out Reps. Bill Huizenga, R-Mich., and Frank Lucas, R-Okla., for the position, as well as Rep. Andy Barr, R-Ky., who was favored to win due to his ties with members of the steering committee. He will succeed fellow Republican Rep. Patrick McHenry of North Carolina, who was term-limited as chair.

Hill released a statement Thursday after the committee elected him to be the next chairman.

“I am humbled that my colleagues have placed their trust in me to lead the House Financial Services Committee as their next Chairman,” Hill said. “It was a privilege to join my exceptional colleagues, Representatives Andy Barr, Bill Huizenga and Frank Lucas, in sharing our visions for this committee.

“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.”

Barr posted on X following the announcement, congratulating Hill.

“I look forward to working with him to advance President Trump’s agenda and deliver results for the American people,” Barr said in the post.

Hill was previously the vice chair of the House Financial Services Committee and the inaugural chair of its subcommittee on digital assets, financial technology and inclusion. He’s been an outspoken supporter of cryptocurrency legislation, working on multiple bills to regulate the industry.

Hill began his career as a community banker, and his chairmanship campaign slogan was “Make Community Banks Great Again.” He also released a document in November detailing some of his plans for the chairmanship if he were to win.

Among many other goals, the document emphasizes preventing politically-motivated account terminations, making climate stress testing optional and ensuring regulatory requirements are tailored to institutions based on size and risk profile. The proposal also calls for increased transparency in bank examinations, modernization of supervisory processes and the raising of various regulatory thresholds to reduce burdens on smaller institutions like community banks.

As chair of the House Financial Services Committee, Hill will oversee a committee with jurisdiction over issues pertaining to the economy, the banking system, housing, insurance and securities and exchanges. Additionally, the committee has jurisdiction over monetary policy, international finance, international monetary organizations and efforts to combat terrorist financing.

McHenry also released a statement following the steering committee’s selection.

“Congratulations to my longtime ally and current Committee Vice Chairman French Hill on being selected as the next Chairman of House Financial Services Committee,” McHenry said in the statement. “French’s experience in the private sector, the Treasury Department and as Vice Chair have prepared him for this role. 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. With French Hill at the helm, Republicans will build on our work from this Congress to finally enact a clear regulatory framework and robust consumer protections for the digital asset ecosystem.”

He added that he believes Hill is the “right person to guide this talented group of lawmakers.”