Senator Katie Britt introduces FTA Administrator Marc Molinaro, raises financial concerns

facilitating access to their American Dream,” she continued. “He also acknowledges the necessity of strategic and efficient infrastructure investments, prioritizing economic growth and improving the quality of life for American citizens and working families.”

During the hearing, Senator Britt raised concerns and posed questions to various nominees appointed by President Trump. Among them were Paul Atkins, nominated for the position of Chair of the Securities and Exchange Commission (SEC), Jonathan Gould, nominated for Comptroller of the Office of the Comptroller of the Currency (OCC), and Luke Pettit, nominated for Treasury Assistant Secretary for Financial Institutions.

Senator Britt emphasized the importance of tailoring regulations appropriately and directed her first line of inquiry towards Gould. She inquired about the significance of S. 2155, highlighting the necessity of a balanced regulatory framework to stimulate stability and growth. Gould responded by advocating for adherence to the Economic Growth Act and guaranteed a commonsense approach to bank supervision and regulation.

In her subsequent questioning, Senator Britt turned her attention to Pettit, delving into how future bank policies could impact community banks. Pettit expressed his awareness of the vital function community banks play in the banking system, particularly in underserved regions like Tennessee and Alabama. He affirmed his commitment to engaging with community banks to understand the impact of forthcoming rules and regulations.

Concerning personally identifiable information (PII) reporting requirements, Senator Britt mentioned the SEC’s decision to halt CAT collection and introduced legislation alongside Senator John Kennedy to make this exemption permanent. Senator Britt expressed concerns about the stored data attracting malicious intent and asked Atkins if he would reassess the necessity of CAT and the adequacy of data protection measures.

Senator Britt concluded her questioning by focusing on rural communities with Molinaro. Addressing the specific challenges faced by rural areas in Alabama, she probed Molinaro on how plans for the FTA would incorporate these communities. Molinaro underscored the importance of supporting rural transit agencies’ technical capabilities, demonstrating a stance to work closely with local officials to address the needs of rural populations effectively.

In conclusion, Senator Britt’s engagement during the hearing highlighted her commitment to understanding and addressing key issues related to transportation, financial regulation, and infrastructure investments. Her thoughtful inquiries and exchanges with nominees demonstrated a dedication to ensuring the well-being of American citizens and supporting equitable access to opportunities across various sectors.