SAN DIEGO—House Financial Services Committee Chairman French Hill (R-AR) told bankers at CBA LIVE that House Republicans are preparing a broader push this year to reshape the Consumer Financial Protection Bureau, previewing a “series of reforms” aimed at the Bureau itself and at two of the industry’s most contested rules: the CFPB’s Section 1071 small-business lending data collection rule and its Section 1033 open-banking data-access framework.
Speaking at the Consumer Bankers Association’s annual conference, Hill said bankers have questions about how the Trump Administration will reform the CFPB and “many of its regulations like Section 1033,” adding, “I think you will see [the House Financial Services Committee] this year bring out a series of reforms in the House and we will see the Trump Administration make progress on a new [Section] 1071 rule, a new [Section] 1033 rule, both of which are policies that CBA has advocated for.”
Hill did not spell out what the House package will include, but the remarks point to a coordinated legislative-and-regulatory effort that could go well beyond the Bureau’s recent enforcement pullbacks. Republicans on the House Financial Services Committee have already spent much of the past year laying the groundwork for a CFPB overhaul, including a March 2025 hearing titled “A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections,” which examined the agency’s structure, funding and legal footing under GOP criticism that the bureau has become overreaching and insufficiently accountable.