H.R.4763 — Financial Innovation and Technology for the 21st Century Act

House Roll Call

H.R.4763

Roll 223 • Congress 118, Session 2 • May 22, 2024 5:21 PM • Result: Failed

← Back to roll call list • View bill page • Clerk record • API source

BillH.R.4763 — Financial Innovation and Technology for the 21st Century Act
Vote questionOn Agreeing to the Amendment
Vote typeRecorded Vote
ResultFailed
TotalsYea 204 / Nay 209 / Present 0 / Not Voting 23
PartyYeaNayPresentNot Voting
R0209011
D2040012
I0000

Research Brief

On Agreeing to the Amendment

Bill Analysis

Summary of HR 4763 - Financial Innovation and Technology for the 21st Century Act

The Financial Innovation and Technology for the 21st Century Act (HR 4763) aims to modernize the regulatory framework governing financial technology (fintech) and promote innovation in the financial services sector. The bill seeks to establish a comprehensive approach to support the development and integration of new technologies while ensuring consumer protection and financial stability.

Key Provisions:

  • Regulatory Framework: HR 4763 proposes the creation of a new Office of Financial Innovation within the Department of the Treasury. This office would coordinate federal efforts to foster fintech innovation and streamline regulatory processes for emerging financial technologies.
  • Sandbox Programs: The bill encourages the establishment of regulatory sandboxes, allowing fintech companies to test new products and services in a controlled environment under the supervision of regulators. This aims to reduce barriers to entry for startups and enhance competition in the financial sector.
  • Consumer Protection: The legislation emphasizes the need for consumer protection measures, mandating that fintech companies adhere to existing consumer protection laws while also allowing for flexibility in compliance to encourage innovation.

Funding and Authorities: HR 4763 authorizes appropriations necessary for the operation of the Office of Financial Innovation and related initiatives, although specific funding levels are not detailed in the bill. The bill also provides the Treasury with the authority to collaborate with other federal and state agencies to promote fintech innovation.

Affected Programs and Agencies: The bill primarily impacts the Department of the Treasury, the Consumer Financial Protection Bureau (CFPB), and other regulatory bodies overseeing financial institutions and services.

Beneficiaries and Regulation: The primary beneficiaries of this legislation include fintech startups, established financial institutions seeking to innovate, and consumers who will have access to a broader range of financial services. The bill also establishes a framework for regulating these entities to ensure compliance with consumer protection standards.

Key Timelines: Following its introduction, HR 4763 was received in the Senate, read twice, and referred to the Committee on Banking, Housing, and Urban Affairs for further consideration. The timeline for further action remains to be determined.

View bill source • Clerk record • API record

Yea (204)

C
Colin Allred

TX • D • Aye

J
Jamaal Bowman

NY • D • Aye

C
Cori Bush

MO • D • Aye

Y
Yadira Caraveo

CO • D • Aye

T
Tony Cárdenas

CA • D • Aye

M
Matt Cartwright

PA • D • Aye

G
Gerald Connolly

VA • D • Aye

J
Jason Crow

CO • D • Aye

L
Lloyd Doggett

TX • D • Aye

A
Anna Eshoo

CA • D • Aye

R
Ruben Gallego

AZ • D • Aye

J
John Garamendi

CA • D • Aye

J
Jeff Jackson

NC • D • Aye

D
Daniel Kildee

MI • D • Aye

D
Derek Kilmer

WA • D • Aye

A
Ann Kuster

NH • D • Aye

B
Barbara Lee

CA • D • Aye

K
Kathy Manning

NC • D • Aye

L
Lucy McBath

GA • D • Aye

G
Grace Napolitano

CA • D • Aye

W
Wiley Nickel

NC • D • Aye

B
Bill Pascrell

NJ • D • Aye

M
Mary Peltola

AK • D • Aye

D
Dean Phillips

MN • D • Aye

K
Katie Porter

CA • D • Aye

C
C. Ruppersberger

MD • D • Aye

J
John Sarbanes

MD • D • Aye

A
Abigail Spanberger

VA • D • Aye

E
Eric Swalwell

CA • D • Aye

R
Rashida Tlaib

MI • D • Aye

D
David Trone

MD • D • Aye

D
Debbie Wasserman Schultz

FL • D • Aye

J
Jennifer Wexton

VA • D • Aye

S
Susan Wild

PA • D • Aye

Nay (209)

K
Kelly Armstrong

ND • R • No

D
Dan Bishop

NC • R • No

L
Larry Bucshon

IN • R • No

M
Michael Burgess

TX • R • No

K
Ken Calvert

CA • R • No

J
Jerry Carl

AL • R • No

L
Lori Chavez-DeRemer

OR • R • No

A
Anthony D'Esposito

NY • R • No

J
John Duarte

CA • R • No

J
Jeff Duncan

SC • R • No

A
A. Ferguson

GA • R • No

S
Scott Franklin

FL • R • No

M
Matt Gaetz

FL • R • No

M
Mike Garcia

CA • R • No

B
Bob Good

VA • R • No

K
Kay Granger

TX • R • No

G
Garret Graves

LA • R • No

M
Mark Green

TN • R • No

D
Doug Lamborn

CO • R • No

J
Jake LaTurner

KS • R • No

D
Debbie Lesko

AZ • R • No

B
Blaine Luetkemeyer

MO • R • No

L
Lisa McClain

MI • R • No

P
Patrick McHenry

NC • R • No

M
Marcus Molinaro

NY • R • No

A
Alexander Mooney

WV • R • No

G
Greg Pence

IN • R • No

B
Bill Posey

FL • R • No

C
Cathy Rodgers

WA • R • No

M
Matthew Rosendale

MT • R • No

J
John Rutherford

FL • R • No

D
David Schweikert

AZ • R • No

P
Pete Sessions

TX • R • No

M
Michelle Steel

CA • R • No

M
Michael Waltz

FL • R • No

B
Brad Wenstrup

OH • R • No

B
Brandon Williams

NY • R • No

Not Voting (23)

E
Earl Blumenauer

OR • D • Not Voting

J
Jenniffer González-Colón

PR • R • Not Voting

R
Raúl Grijalva

AZ • D • Not Voting

S
Sheila Jackson Lee

TX • D • Not Voting

G
Gregorio Sablan

MP • D • Not Voting

N
Nydia Velázquez

NY • D • Not Voting