Members pitch wide range of bills on bank accounting, China risk, crypto bailouts, housing and oversight

Several members used their allotted time on member day to present a slate of legislative ideas spanning bank accounting, China-related investment risk, crypto policy and housing and oversight reforms.

Representative Brad Sherman described a Bank Safety Act aimed at changing how banks account for long-term securities so that interest-rate losses are recognized more promptly. Sherman said the current treatment encouraged banks to favor long-term securities over loans to small businesses because interest-rate risk is not treated the same as credit risk, and he cited Silicon Valley Bank as an example. He also outlined a suite of China-focused proposals, including a China Risk Reporting Act to require companies to disclose China-specific risks and a No China Index Funds Act to address investments through variable interest entities. On crypto, Sherman said he supports a No Crypto Bailout Act and measures to bar federal investments in crypto, arguing taxpayers should not back digital assets.

Other members urged housing and disaster-recovery reforms and transparency measures. Representative Green described legislation to create a congressional gold medal recognizing enslaved Africans and their descendants, a Reforming Disaster Recovery Act to codify post-disaster institutional knowledge and a Shielding Community Banks from Systemic Risk Assessment Act to protect small banks from disproportionate assessments. Green also discussed the Systemic Risk Authority Transparency Act to require reports after systemic-risk actions, a CFPB whistleblower awards bill to incentivize reporting of wrongdoing, and fair-lending bills that would expand testing and enforcement.

Representative (unnamed in this panel transcript) who serves as ranking member on the housing and insurance subcommittee discussed the need to update and coordinate HUD programs, reduce duplicative regulatory compliance burdens on affordable-housing projects and support manufactured housing and rural preservation strategies. He urged Congress to restore capacity at HUD, including annual testimony requirements for the HUD secretary.

Members said many ideas enjoy bipartisan support at the concept stage and that the committee should consider markups, oversight hearings and targeted fixes. No formal votes or markups occurred during the member-day hearing; members’ statements were entered into the record and may be followed by written questions to witnesses.