A top House Republican wants to overturn a recent federal regulation governing non-bank financial companies. Rep. French Hill (R-Ark.) introduced a resolution Wednesday (April 17) that would yank the approval of the Financial Stability Oversight Council (FSOC)’s guidance on non-bank financial company determinations, adopted last fall. “This guidance transforms...
Three members of Congress have asked the Federal Deposit Insurance Corp. (FDIC) for information about how it will provide regulatory guidance for FinTech firms and other financial innovators. This request was driven by the FDIC’s dismantling of the external facing portion of its FDITech Office, according to...
Three members of Congress have urged the Consumer Financial Protection Bureau (CFPB) to reopen and extend the public comment period on its proposed rule that would allow it to supervise large nonbank companies that offer services like digital wallets and payment apps. They also urged the CFPB to reconsider...
FinTech firms’ products and services provide benefits that far exceed the risks they pose. So said Rep. French Hill of Arkansas, chairman of the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, during opening remarks delivered Wednesday (Oct. 25) before the hearing,...
December 12, 2024
U.S. Rep. French Hill, R-Ark., is set to become the next chairman of the House Financial Services Committee (HFSC) after being elected by the House Republican Steering Committee. Hill announced his election in a Thursday (Dec. 12) press release, saying that he looks forward to working with others “to bring common-sense economic policies that will […]
April 18, 2024
A top House Republican wants to overturn a recent federal regulation governing non-bank financial companies. Rep. French Hill (R-Ark.) introduced a resolution Wednesday (April 17) that would yank the approval of the Financial Stability...
February 02, 2024
Three members of Congress have asked the Federal Deposit Insurance Corp. (FDIC) for information about how it will provide regulatory guidance for FinTech firms and other financial innovators. This request was driven...
January 30, 2024
Three members of Congress have urged the Consumer Financial Protection Bureau (CFPB) to reopen and extend the public comment period on its proposed rule that would allow it to supervise large nonbank companies that...
