ASA Applauds House Passage of China Financial Threat Mitigation Act

WASHINGTON – The American Securities Association (ASA) today applauded the U.S. House of Representatives for passing the bipartisan China Financial Mitigation Threat Act of 2025, a bill to require the Treasury Department to produce a report on the threats China poses to the U.S. capital markets and American investors. 

"ASA applauds the House for passing the bipartisan China Financial Mitigation Threat Act, and we look forward to working with Congress and the Trump administration to stop Communist China from using American money to fund its cyber armies, its military-industrial complex, and its technological rise," said ASA President and CEO Chris Iacovella.

In April, Iacovella testified at a joint hearing with the Senate Special Committee on Aging and the House Select Committee on the Chinese Communist Party (CCP) titled “Financial Aggression: How the Chinese Communist Party Exploits American Retirees and Undermines National Security". Iacovella joined Fox Business Network's Mornings with Maria to discuss his testimony and the threat China poses to every American.

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The American Securities Association (ASA) represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.