Frank Lucas (R-OK)
Securing Innovation in Financial Regulation Act
A Republican bill with no cosponsors
Last activity — Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The Securing Innovation in Financial Regulation Act seeks to codify two specific entities within federal financial agencies. It establishes the Strategic Hub for Innovation and Financial Technology, known as FinHub, within the Securities and Exchange Commission. Additionally, it establishes LabCFTC within the Commodity Futures Trading Commission. FinHub is tasked with supporting engagement on emerging technologies and facilitating communication with businesses. LabCFTC is designed to promote responsible financial technology innovation, provide education, and engage with academia and professionals. Both entities are required to provide annual reports regarding their activities to Congress.
Yes· 3 of 6
- Scored +1
Would business owners be better off under this?
The bill facilitates communication between financial technology businesses and regulators.
- Scored +1
Would students be better off under this?
The bill directs LabCFTC to engage with academia and students regarding financial technology.
- Scored +1
Is this likely to grow the economy?
The bill may support economic growth by fostering innovation in financial technologies.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Support for Innovation: The establishment of FinHub is intended to support engagement on emerging technologies in the financial sector (Section 2, subsection k, 1).
-
Increased Communication: FinHub will facilitate communication between the Commission and businesses working in emerging financial technology fields regarding rules and regulations (Section 2, subsection k, 3, C).
-
Promotion of Fair Competition: LabCFTC's purpose includes promoting responsible financial technology innovation and fair competition for the benefit of the American public (Section 3, subsection a, 2, A).
-
Educational Outreach: LabCFTC is tasked with engaging academia, students, and professionals on financial technology issues and providing information to those working in emerging technology fields (Section 3, subsection a, 4, D and E).
-
Improved Commission Services: LabCFTC is required to report on steps taken to improve Commission services, including responsiveness to the concerns of persons (Section 3, subsection a, 5, B, iii).
Potential Negative Impacts for People
- No specific negative impacts or burdens are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — The bill facilitates communication between financial technology businesses and regulators. Would students be better off under this? — The bill directs LabCFTC to engage with academia and students regarding financial technology.
- Economy And Finance
- Does this give people more protection from unfair business practices? — The bill aims to promote responsible innovation and fair competition for the benefit of the American public. Is this likely to grow the economy? — The bill may support economic growth by fostering innovation in financial technologies.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill requires annual reports to Congress to ensure oversight. Does this give the federal government more power? — The bill codifies specific entities within existing federal financial agencies.
- 6/3/2025
- Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.