The American Fintech Council (AFC) has extended its congratulations to Congressman French Hill following his election as the Chair of the House Financial Services Committee. AFC Chief Executive Officer, Phil Goldfeder, highlighted Hill's support for responsible financial innovation and the establishment of clear guidelines in the fintech industry that ensure consumer access to safe and affordable financial tools.

Phil Goldfeder stated, "The American Fintech Council (AFC) congratulates Congressman French Hill on his election as the next Chair of the House Financial Services Committee. Mr. Hill is a longtime supporter of responsible financial innovation and clear fintech industry guidelines that ensure consumers have access to critical safe and affordable financial tools."

Hill's previous roles include Vice Chairman of the committee and Chairman of the Subcommittee on Digital Assets, Financial Technology, and Inclusion. In these positions, he has shown an understanding of the complexities within the financial sector and advocated for effective policies. His efforts in urging the FDIC to focus on responsible fintech innovation following changes in its FDITech office have been acknowledged by Goldfeder.

"We particularly appreciate his advocacy pushing the FDIC to prioritize greater understanding of responsible fintech innovation after the agency reorganized its FDITech office," Goldfeder added. He also commended Hill's support for consistent regulations in bank-fintech arrangements.

Goldfeder concluded by expressing optimism about working with Hill in his new role: "Consumers have won a great advocate in Chairman Hill, and we look forward to working with him in his new role and supporting policies to empower responsible innovation that makes the finance industry more inclusive and transparent."