Message from Congressman Scott Fitzgerald

Good morning, everyone, and happy Monday!

I’m happy to report that the House recently passed H.R. 2483, the SUPPORT Act. Communities across Wisconsin have been devastated by the opioid epidemic, and this bill renews key programs to combat addiction, crack down on fentanyl, and support recovery efforts that help people reenter the workforce. Prevention saves lives.

Keep reading on to hear additional updates about what's been happening in Washington. I hope you have a great week.

-Scott

We Must Protect Credit Unions’ and Community Banks' Ability to Serve Their Members

The House Financial Services Committee last week held a hearing titled, “Framework for the Future: Reviewing Data Privacy in Today’s Financial System.” The hearing explored the evolving landscape of consumer data privacy laws across both federal and state jurisdictions, and examined consumer financial data privacy law under the Gramm-Leach-Bliley Act (GLBA).

During my committee remarks, I discussed how credit unions and community banks are already subject to strict federal privacy requirements. Adding a federal private right of action would trigger a wave of abusive class-action lawsuits, hurting smaller community-based financial institutions and the members they serve.

Joined the Inside the Beltway Podcast

Recently, I joined the Inside the Beltway Podcast to discuss where we were at in the reconciliation process, what I'm working on as Chairman of the House Judiciary Committee's Subcommittee on the Administrative State, Regulatory Reform, and Antitrust, and my work on the House Financial Services Committee. 

Listen here.

Ivy League’s Anticompetitive Practices Harm Students, Taxpayers, and Our Country’s Future

Last week, the House Judiciary Committee held a hearing titled, “The Elite Universities Cartel: A History of Anticompetitive Collusion Inflating the Cost of Higher Education.” The hearing examined the anticompetitive practices of Ivy League institutions that keep class sizes small and inflate the cost of higher education.

During my committee remarks, I discussed how Harvard’s endowment alone—which stood north of $50 billion as of 2023—is larger than the GDP of 120 nations. Six of the eight Ivy League schools have endowments exceeding $10 billion. Ivy League schools should be competing to offer the best product at the best price possible. Instead, they collude to raise prices and spend their inflated cartel earnings on administrative bloat.

The CLARITY Act: A Proposed Crypto Market Structure Bill

The House Financial Services Committee last week held a hearing titled, “American Innovation and the Future of Digital Assets: From Blueprint to a Functional Framework.” The hearing explored how digital assets and blockchain technology are powering the next evolution of the internet, empowering individuals, accelerating innovation, and unlocking new economic opportunities. Yet, the current regulatory framework stifles innovation, creates uncertainty for market participants, and leaves consumers without sufficient protections. 

To unlock the full potential of this technology and ensure the United States remains a global leader in financial and technological innovation, Congress must enact clear, forward-looking legislation. That is why we must pass the Committee’s digital asset market structure framework, the CLARITY Act of 2025. 

Social Media Highlight

That wraps the updates from this edition of my eNewsletter. Thanks for reading along!  

-Scott

That's a wrap for this week's eNewsletter! Follow me on Twitter, Instagram, and Facebook to stay up to date on my work for the 5th District of Wisconsin.

Sincerely,

Scott Fitzgerald
Member of Congress