Congress entered November facing the longest government shut down in history. On November 12^th, Congress voted to end the shut down with a CR that goes until January 30^th, 2026. After that, Committees only had one week of work in November with the Thanksgiving holiday recess.

House Examines Deposit Insurance Reform

On November 18^th, House Financial Services Committee held a hearing entitled “The Future of Deposit Insurance: Exploring the Coverage, Costs, and Depositor Confidence.” During the hearing, Members of Congress heard from a number of experts across the banking sector, including a focus on deposit insurance reform focused on small businesses and community banks. Better Markets recently released a report that highlights the importance of community banks in their local economies to ensure that small businesses can grow and communities can thrive. Be sure to read the full report here.

Senate Banking Advances FDIC Nominee

On November 19^th, Senate Banking Committee held a vote to advance Travis Hill’s nomination for FDIC Chair to the full Senate on a party line vote. Prior to the vote, Ranking Member Elizabeth Warren brought up serious concerns with his nomination, including concerns with his leadership and reforms to the toxic workplace that has plagued the agency for years.  Better Markets highlighted his deregulatory agenda that will harm the banking industry. You can read our press release on his nomination here.

Senate Agriculture Holds Hearing and Advances CFTC Nominee

On November 19^th, Senate Agriculture Committee held a nomination hearing for Michael Selig to become the Chair of the CFTC. During the hearing, Senate Democrats pressed him on his views across several important issues, including event contracts and crypto. Prior to the hearing, Better Markets released a fact sheet covering key questions Senators should ask him during the hearing.

Less than 24 hours later, on November 20^th, the Committee held a vote to advance his nomination to the full Senate and he passed out of Committee on a party line vote. Better Markets continued to highlight the concerns with his nomination, as well as the expedited timeline that took place to advance his nomination. You can read our press release on the Committee vote here.