The U.S. House Energy and Commerce Committee reportedly voted Thursday (July 11) to give the Justice Department a transcript of a closed-door hearing about threats posed by TikTok. The release of the transcript is meant to help the Justice Department defend a law that requires TikTok’s China-based owner, ByteDance,...
Four Democratic U.S. Senators have a message for bankrupt FinTech Synapse: Let your customers get access to their deposits. The four senators — Senate Banking Committee chair Sherrod Brown of Ohio, Ron Wyden of Oregon, Tammy Baldwin of Wisconsin and Pennsylvania’s John Fetterman — wrote...
President Joe Biden plans to nominate Christy Goldsmith Romero, who is currently a commissioner at the Commodity Futures Trading Commission (CFTC), to become chair and member of the Federal Deposit Insurance Corp. (FDIC). Goldsmith Romero has been a commissioner at the CFTC since March 2022, sponsors the CFTC’s...
Cryptocurrency sector-backed super political action committees (PACs) have become one of the top three fundraisers in the 2024 election season. With more than $102 million raised, these groups are behind only the super PAC backing Ron DeSantis’ failed presidential campaign and the one backing Democratic Senate...
American lawmakers have approved a bill that could ban TikTok in the U.S. The U.S. House of Representatives voted 352-65 Wednesday (March 13) in favor of the legislation, aimed at compelling ByteDance, the Chinese owner of the popular social media platform, to divest its U.S. assets within six months. Failure...
The question must be asked as Rep. Patrick McHenry, R-N.C., takes his leave of Congress: What happens to financial services regulation, and by extension, payments innovation? As had been widely reported Tuesday (Dec. 6), McHenry said that he won’t seek re-election when his current term...
The chairman of the House Financial Services Committee aims to reverse a Biden Administration mortgage plan. Rep. Patrick McHenry (R-North Carolina) said Friday (June 23) on the House floor that the Administration’s changes to the Federal House Finance Agency’s (FHFA’s) Loan Level Pricing Adjustment Structure...
J.P. Morgan Chase CEO Jamie Dimon said he loves his job but has considered running for public office. Asked in an interview if he had ever considered doing so, Dimon told Bloomberg Television Wednesday (May 31): “I love my country, and maybe one day I’ll serve my country in one...
Senate Republicans want to revoke the White House’s plan to forgive some student loans. A trio of senators on Monday (March 27) introduced a Congressional Review Act (CRA) resolution that would overturn President Joe Biden’s student loan cancellation plan and end the administration’s pause on...
