Majority Press Releases
Scott Calls on Debanked Americans to Utilize Whistleblower Resource
Washington, D.C. - Ahead of the Senate Banking Committee’s hearing on debanking, Chairman Tim Scott (R-S.C.) is encouraging businesses and individuals who have been debanked to report allegations to his committee staff. To share such information with Chairman Scott’s staff, please email RepWhistleblowers@banking.senate.gov or call 202-224-4287. Please include your business, agency, or organization; details of your allegation; and a phone number or email address where we may reach you. “As Chai… Continue Reading
January 24, 2025
Scott: Banking Committee Will Investigate Debanking
Washington, D.C. - Today, Chairman Tim Scott (R-S.C.) announced the Senate Banking Committee will hold a hearing focused on debanking on February 5, 2025. Witnesses will be announced at a later date. “Debanking is un-American - every legal business deserves to be treated the same regardless of their political beliefs. Unfortunately, under Operation Chokepoint 2.0, Biden regulators abused their power and forced financial institutions to cut off services to digital asset firms, political figures,… Continue Reading
January 23, 2025
Scott Applauds President Trump’s Executive Order to Create Working Group on Digital Asset Markets
Washington, D.C. - Chairman Tim Scott (R-S.C.) today applauded President Donald Trump’s Executive Order to establish the President’s Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance. “Voters across the country were clear in November: they want access to digital assets and a clear regulatory framework for the industry. Just days into his administration, President Trump is delivering on his promises, creating the first President’s Working Group on Digital As… Continue Reading
January 23, 2025
Banking Committee Approves Subcommittee Assignments for the 119th Congress
Washington, D.C. - Today, Chairman Tim Scott (R-S.C.) and Ranking Member Elizabeth Warren (D-Mass.) released the following statements after the U.S. Senate Committee on Banking, Housing, and Urban Affairs approved subcommittee assignments for the 119th Congress: “In the 119th Congress, we have an opportunity to deliver tangible results for the American people. As we return the committee to regular order, our subcommittees will have a key role in vetting and developing legislation within our jur… Continue Reading
January 23, 2025
Banking Committee Advances HUD Secretary Nominee
Washington, D.C. - Today, the Senate Banking Committee advanced the nomination of Scott Turner to serve as Secretary of the Department of Housing and Urban Development (HUD) by a vote of 13-11. Ahead of the vote, Chairman Tim Scott (R-S.C.) highlighted Mr. Turner’s record and their shared goal of addressing the housing crisis and increasing access to quality, affordable housing opportunities for Americans across the country. Chairman Scott’s opening remarks as delivered: At his inauguration, … Continue Reading
January 21, 2025
Scott Joins Squawk Box to Discuss Banking Committee Agenda
Washington, D.C. - Today, Chairman Tim Scott (R-S.C.) joined CNBC’s Squawk Box to discuss his agenda for the Banking Committee in the 119th Congress. Last week, Chairman Scott released his legislative and oversight priorities to increase financial inclusion and advance opportunity for Americans across the country. Click here or on the image above to watch Chairman Scott’s interview. On his agenda for the Banking Committee: “For me, it's making America's economy work for the working-class p… Continue Reading
January 16, 2025
Scott Opening Remarks at HUD Secretary Nomination Hearing
Washington, D.C. - At today’s hearing on Scott Turner’s nomination to be Secretary of the U.S. Department of Housing and Urban Development, Chairman Tim Scott (R-S.C.) stressed the importance of expanding access to quality, affordable housing to help more Americans achieve their version of the American Dream. In his opening remarks, Chairman Scott highlighted Mr. Turner’s record and leadership directing investments in Opportunity Zones, Chairman Scott’s initiative under the Tax Cuts and Jobs Ac… Continue Reading
January 15, 2025
Scott Announces Banking Committee Priorities for the 119th Congress
Washington, D.C. - Today, Chairman Tim Scott (R-S.C.) released the U.S. Senate Committee on Banking, Housing, and Urban Affairs legislative and oversight priorities for the 119th Congress. As the first Black chair of a Senate standing committee, Chairman Scott will work tirelessly to increase financial inclusion and advance opportunity for Americans across the country. “My goal for this Congress is simple: make America work for Americans. Over the last two years, we’ve led comprehensive solutio… Continue Reading
January 14, 2025
Scott Demands Biden Administration Regulators Comply with Outstanding Requests for Information
Washington, D.C. - Chairman Tim Scott (R-S.C.) is calling on the Biden administration’s financial regulators to comply with his outstanding requests for information before President Trump takes office. In letters to leaders at the Federal Reserve Board, U.S. Department of Treasury, Securities and Exchange Commission, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, Federal Reserve Bank of New York, and Federal Reserve Bank of San Francisco, Chairman Scott demanded inf… Continue Reading
January 7, 2025
Scott on CFPB’s Medical Debt Rule
Washington, D.C. - U.S. Senator Tim Scott (R-S.C.) released the following statement on the Consumer Financial Protection Bureau’s final rule on medical debt: “With just days left in the Biden administration, CFPB Director Chopra is pressing forward in his pursuit of headlines and political talking points over sound policy decisions. Medical debt is a serious challenge for many Americans, but the CFPB’s final rule will do nothing to address the underlying issues. Instead, the rule will reduce ac… Continue Reading
January 7, 2025
Scott Statement on Meeting with Paul Atkins, Nominee to Serve as SEC Chairman
Washington, D.C. - U.S. Senator Tim Scott (R-S.C.) released the following statement on his meeting with Paul Atkins, President Trump’s nominee to serve as Chairman of the Securities and Exchange Commission (SEC): Click here or on the image above to download the photo. “Throughout his career, Paul Atkins has championed policies that promote capital formation and job creation, and his extensive experience in financial regulation will be critical to reversing the harm Gary Gensler has done to o… Continue Reading
January 6, 2025
Scott Statement on Michael Barr
Washington, D.C. - U.S. Senator Tim Scott (R-S.C.) released the following statement on Michael Barr’s announcement he will step down as the Federal Reserve Board Vice Chair for Supervision: “The Federal Reserve Vice Chair for Supervision is mandated by law to oversee the safety and soundness of our banking system. From his supervisory failures during the Spring 2023 bank failures to the disastrous Basel III Endgame proposal - Michael Barr has failed to meet the responsibilities of his position.… Continue Reading
January 3, 2025
Scott Celebrates Historic Milestones
Washington, D.C. - Today, U.S. Senator Tim Scott (R-S.C.) issued the below statement ahead of the 119th Congress, where he will become the longest-serving Black senator in the nation’s history, as well as the first Black chairman of a Senate standing committee when he assumes the top spot on the U.S. Senate Committee on Banking, Housing, and Urban Affairs. Scott will remain focused on working on behalf of South Carolinians and advancing his Opportunity Agenda to ensure every American can reach t… Continue Reading
January 2, 2025
Scott, Hill Demand Answers from Treasury on China-Sponsored Cyber Hack
Washington, D.C. - Ranking Member Tim Scott (R-S.C.) and House Financial Services Committee Vice Chair French Hill (R-Ark.) are demanding answers following the China state-sponsored cybersecurity breach at the U.S. Department of Treasury. In a letter to Treasury Secretary Janet Yellen, Scott and Hill highlight concerns about the Department’s protocols for safeguarding sensitive federal government information and demand a detailed briefing on the incident. “We write regarding the major cybersecu… Continue Reading
December 30, 2024
Scott Releases 2024 Banking GOP Year-in-Review and Oversight Report for the 118th Congress
Washington, D.C. - Today, Ranking Member Tim Scott (R-S.C.) released his 2024 Year-in-Review and Oversight Report for the 118th Congress, highlighting Banking Committee Republicans’ accomplishments over the past year and detailing the committee’s oversight work of the Biden-Harris administration during the 118th Congress. Ranking Member Scott and Banking Committee Republicans have worked together to promote economic opportunity and capital formation, put more Americans on the path to homeownersh… Continue Reading
December 17, 2024
Scott Meets with Incoming White House A.I. and Crypto Czar David Sacks
Washington, D.C. - Today, Ranking Member Tim Scott (R-S.C.) met with David Sacks, President Trump’s incoming White House A.I. and Crypto Czar. Click here or on the image above to download the photo. “Blockchain technology and cryptocurrency have the potential to democratize the financial world, and I look forward to working with President Trump, David Sacks, and my colleagues in Congress to develop a regulatory framework for digital assets that encourages innovation here in the United Stat… Continue Reading
December 16, 2024
Scott Statement on Meeting with HUD Secretary Nominee Scott Turner
Washington, D.C. - Today, Ranking Member Tim Scott (R-S.C.) issued the following statement after meeting with Scott Turner, President Trump’s nominee to serve as U.S. Secretary of Housing and Urban Development (HUD): Click here to download the photo. “I enjoyed meeting today with Scott Turner, President Trump’s nominee to serve as the next Secretary of Housing and Urban Development. Scott and I discussed the need to reform our failed federal housing policies, including reducing red tape and … Continue Reading
December 12, 2024
Scott Statement on CFPB’s Final Overdraft Rule
Washington, D.C. - Ranking Member Tim Scott (R-S.C.) released the following statement on the Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees at banks and credit unions: “As I’ve said repeatedly, lawful and contractually agreed upon payment incentives promote financial discipline and responsibility and protect access to important financial services. With just over a month until the next administration takes over, Director Chopra should never have finalized this ru… Continue Reading
December 11, 2024
Scott Presses CFPB Director on Resignation, Calls Out Midnight Rulemaking
Washington, D.C. - After Chairman Brown’s last-minute postponement of today’s U.S. Senate Committee on Banking, Housing, and Urban Affairs markup vote on President Biden’s partisan nominees, Ranking Member Tim Scott (R-S.C.) slammed the committee’s dysfunction and lack of transparency. In his opening statement, Ranking Member Scott also called out Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra for ignoring his demands to pause rulemaking and pressing forward with an aggressiv… Continue Reading
December 6, 2024
Scott Statement on 11th Hour Markup of Biden Nominees
Washington, D.C. - In response to Chairman Brown’s announcement that the U.S. Senate Committee on Banking, Housing, and Urban Affairs will hold a markup on December 11th of President Biden’s nominees, Ranking Member Tim Scott (R-S.C.) released the following statement: “The American people were loud and clear on November 6th when they rejected the Biden-Harris administration’s radical economic agenda and handed President Trump and the incoming Republican Congress a mandate to usher in a new er… Continue Reading