Chairman Scott Delivers Opening Remarks at a Hearing for President Trump's Nominees

this hearing will come to order today we have an opportunity to take another step toward reigniting President Trump's blue collar comeback that starts with confirming the four well-qualified nominees before us today paul Atkins Jonathan Gould Luke Luke Pettit and Marcus Malinaro while the title of this committee is the Senate Banking Housing and Urbing Affairs Committee I view our work as all-encompassing it's our responsibility to solve the kitchen table problems and issues that are causing so much anxiety for hardworking American families the issues we oversee housing affordability increasing access to capital and bolstering our economic national security impact everyone's wallets and their pocketbooks the Biden administration stifled innovation and economic growth through its heavy-handed ideological approach to regulation nowhere was this clear than the SEC under Chair Gary Gensler paul Atkins President Trump's nominee to lead the SEC has the experience necessary to return the SEC to its core mission mr atkins is a former SEC commissioner who has dedicated his career to ensuring that our capital markets remain the envy of the world he will roll back the Biden administration's disastrous policies he will promote capital formation and retail investment opportunities and provide long overdue clarity for digital assets ensuring that American innovation does not fall further behind and frankly let's reverse it and become the envy of the world there too i look forward to working with Mr atkins to open our capital markets to all Americans through my legislation the empowering main street in America act my bill will imp improve access to capital for entrepreneurs nationwide rightsize regulations for small and newly public companies and create new avenues for hardworking Americans to invest in their own communities next we have Jonathan Gould who was nominated as a controller of the currency mr gould is no stranger to the OC he has firsthand experience at the agency he understands its critical mission ensuring the safety and soundness of our banking system and ensuring banks provide fair access to financial services not pushing a far-left political agenda first under President Obama we saw Operation Chokepoint then under President Biden regulators weaponized their authority to debank politically disfavored industries and individuals and most recently the crypto firms and what we now call chokepoint 2.0 mr gold I hope you will end debanking and return the OC to its true purpose chartering and supervising banks to ensure they serve all creditw worthy customers not just those who fit a particular mold before I continue let me thank Rodney Hood the acting OC uh controller of the OC he's done a great job uh formed a foundation that is strong common sense progrowth reforms that we need to return notably Mr hood has removed references to reputational risk consistent with my firm act from the OC bank examination guidance and instructed examiners to no longer examine for reputational risk luke Pettit nominated to be the assistant secretary of the Treasury for Financial Institutions brings key experience to this role including serving on this committee mr pettit understands the challenges facing American families and businesses and he knows how to build consensus and compromise when necessary to solve tough financial policy issues finally former Congress member Marcus Malinaro nominated for Federal Transit Administration brings critical experience from his time in the House on the House Transportation and Infrastructure Committee and a long career in local government which I really appreciate making him wellqualified for this role his experience as Duchess County's executive reinforced his belief that transit and infrastructure challenges require local solutions and oversight i am confident that he will propose common sense pragmatic solutions to the agency ensure that our mass transit is effective and safe and connect communities with new opportunities especially new housing opportunities for all Americans by confirming these nominees we can unleash a golden age of prosperity where families can once again afford to buy a home save for their future and achieve the American dream let's get to work let's get these noms confirmed and let's make America great again thank you