In advance of a House Financial Services Committee markup, the Chamber sent comments in support of three measures:

  • H.R. 935, the Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021 (Rep. Huizenga). This legislation would codify an SEC no action letter that facilitates the transfer of ownership in smaller privately held companies.
  • H.R. 4590, the Promoting New and Diverse Depository Institutions Act of 2021 (Rep. Auchincloss). This legislation would require the FDIC to conduct a study on barriers for chartering new banks, especially minority-owned institutions.
  • H.R. 4616, the Adjustable Interest Rate (LIBOR) Act 2021 (Rep. Sherman). This legislation would reduce uncertainty in credit contracts between lenders and their customers when the London Interbank Offered Rate ceases to be quoted in June 2023.