The U.S. House Financial Services Committee on April 20 officially reappointed U.S. Rep. Tom Emmer (R-MN) as ranking member of its Task Force on Financial Technology, a position the congressman also held during the 116th Congress.
“I am honored to serve as the Republican leader on the Financial Technology Task Force again this Congress, and look forward to building a greater understanding with my colleagues in Congress about the ways these technologies can revolutionize our financial system,” Rep. Emmer said on Tuesday during the House Financial Service Committee’s markup to reauthorize the Fintech Task Force.
The congressman, who has served on the Fintech Task Force since becoming a member of the House Financial Services Committee in the 114th Congress, said the task force last year broke ground on several new opportunities that will expand access to the nation’s financial system for millions of Americans.
“The task force explored emerging innovations and ways these technologies can benefit those who have struggled to access banking services in the past,” said Rep. Emmer. “I’m hopeful that the work of this task force will continue to lay the foundation for a better understanding of these financial technologies.”
Additionally, Rep. Emmer joined with the Republican task force members on Tuesday to release their fintech report entitled, The Cutting Edge of Finance: An Examination of the Work of Republicans on the House Financial Services Committee’s Task Forces on Financial Technology and on Artificial Intelligence, which provides a synopsis of the work conducted by the group on fintech-related issues during the previous Congress.
“Today’s release of the fintech report is yet another step towards fostering financial innovation and keeping America competitive on the global stage,” Rep. Emmer said earlier this week.