Out of committee…and now the path is a winding one for the proposed repeal of the Consumer Financial Protection Bureau’s (CFPB) rule that would cap credit card late fees as soon as next month. On Wednesday (April 17), the House Financial Services Committee (HSFC) voted to approve a...
House Republicans think America’s financial oversight bodies need some oversight of their own. U.S. Rep. Patrick McHenry (R-NC), chair of the House Financial Services Committee, re-introduced legislation Wednesday (April 17) that would set up Financial Services Innovation Offices (FSIO) within each financial regulator. “Each FSIO will assess burdensome agency regulations...
The Consumer Financial Protection Bureau (CFPB) is overstepping its bounds when it comes to regulating digital payments firms — especially larger players — critics charged at a Wednesday (March 13) House hearing. At the House of Representatives Committee on Financial Services Subcommittee on Digital Assets,...
U.S. lawmakers faced off Thursday (May 18) over two proposed stablecoin bills. Both bills under consideration would allow both banks and non-banks to issue stablecoins. It was the second time during the current congressional session that proposed stablecoin legislation has come to the floor, with the first hearing on...
April 29, 2024
UnitedHealth Group CEO Andrew Witty will testify before two Congressional committees Wednesday (May 1), addressing the cyberattack that hit the company’s Change Healthcare unit. The Senate hearing is titled “Hacking America’s Health Care: Assessing the Change Healthcare Cyber Attack and What’s Next,” while the House hearing is called “Examining the Change Healthcare Cyberattack.” When announcing the upcoming House hearing, House Energy and Commerce […]
April 18, 2024
House Republicans think America’s financial oversight bodies need some oversight of their own. U.S. Rep. Patrick McHenry (R-NC), chair of the House Financial Services Committee, re-introduced legislation Wednesday (April 17) that would set...
March 26, 2023
House Speaker Kevin McCarthy says the time has come to put restrictions on TikTok. “The House will be moving forward with legislation to protect Americans from the technological tentacles of...
July 01, 2020
The U.S. House of Representatives has passed a bill to extend the deadline for businesses to apply for forgivable loan aid through the Paycheck Protection Program (PPP), CNBC reported. The...
