CLARITY Act Passes Out of Senate Banking Committee

On May 14, the Senate Banking Committee marked up and passed the bipartisan H.R. 3633, the Digital Asset Market Clarity Act of 2025 . The legislation creates a regulatory framework for digital asset markets. Most significant to equipment finance, the bill has a provision that would require the SEC to adopt rules modernizing recordkeeping requirements so investment companies and advisors can better utilize blockchain technology. Provisions like this are progress and would provide regulatory clarity so some in our industry to take advantage of these modern technologies, allowing member businesses to streamline efficiencies. The legislation will now be reconciled with the Senate Agriculture Committee’s digital assets bill before consideration on the Senate floor. It will then need to be considered by the full House. ELFA will continue to monitor the progress of this legislation in both chambers. A Successful 2026 Capitol Connections & Best Practices Roundtables Last week, ELFA hosted 128 equipment finance leaders in Washington, D.C. for a series of focused peer-to-peer discussions on industry sectors, market trends, and the legislative and regulatory issues shaping today’s business environment. The event also provided members with the opportunity to engage directly with lawmakers and congressional staff on Capitol Hill, reinforcing the industry’s commitment to advocacy and relationship building. Members heard from ELFA Chief Economist Tim Mahedy and National Journal Editor-in-Chief Jeff Dufour , who shared timely insights into the economic and political landscape and what it could mean for the industry heading into the upcoming midterm elections. ELFA President & CEO Leigh Lytle also sat down with the Consumer Financial Protection Bureau's Deputy Director Geof Gradler to discuss the future direction of the Bureau and recent developments surrounding Section 1071 rulemaking . Former Congressman John Delaney offered candid perspectives on the realities of Capitol Hill and provided practical guidance on effectively engaging lawmakers and staffers before members headed to their meetings. Attendees also had the opportunity to celebrate this year’s David H. Fenig Award recipient, Dominic Liberatore , recognizing his outstanding contributions to the industry. Allyson Gale, Leigh Lytle, Susan Sullivan Kinney and Kyle Alexandre present Dominic A. Liberatore with the 2026 David H. Fenig Distinguished Service in Advocacy Award. Former Chairman Patrick McHenry shared his perspective on the current climate in Washington, including what Congress may prioritize as it navigates issues related to artificial intelligence, technology, and regulatory shifts. Most importantly, 22 member teams conducted visits with approximately 130 congressional offices to advocate for policies that support economic growth, expand access to capital, and strengthen and stabilize America’s manufacturing economy. These conversations reinforced the industry’s critical role in supporting businesses and communities across the country. The conference was a strong success and reflected the growing momentum behind ELFA’s advocacy efforts. As the policy landscape continues to evolve, ELFA’s policy team remains focused on building lasting relationships, advancing pro-growth priorities, and strengthening the industry’s voice in Washington and beyond.

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CLARITY Act Passes Out of Senate Banking Committee

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