Democrat Congresswoman Maxine Waters has called on banking regulators to block the $35.3 billion planned acquisition of Discover Financial by Capital One Financial. Waters, D-Calif., said Wednesday (Feb. 21) that she is “deeply opposed” to the deal, citing concerns about the concentration of economic power in the hands of megabanks, Reuters...
A top House Republican says the White House’s new beneficial ownership rules are needlessly complex. U.S. Rep. Patrick McHenry, (R-N.C.), head of the House Financial Services Committee, questioned the new reporting requirements during a hearing on Wednesday (Feb. 14). Under the new rules, many businesses are required to...
The battle over the Consumer Financial Protection Bureau’s (CFPB) efforts around small business data collection continues following a Senate vote to reverse that rule. The Senate voted Wednesday (Oct. 18) to overturn a CFPB rule that would require lenders to report demographic data on the recipients...
The top Democrat on the House Financial Services Committee (HFSC), Rep. Maxine Waters, said she is “deeply concerned” about PayPal’s decision to launch a stablecoin. The launch comes at a time when there is no federal framework for regulating these assets, Waters said in a...
May 24, 2024
The U.S. House of Representatives passed a bill Thursday (May 23) that would stop bureaucrats from issuing a central bank digital currency (CBDC) without explicit authorization from Congress. The CBDC Anti-Surveillance State Act (H.R. 5403) passed by a vote of 216 to 192, with 213 Republicans and three Democrats voting to approve it, according to […]
February 21, 2024
Democrat Congresswoman Maxine Waters has called on banking regulators to block the $35.3 billion planned acquisition of Discover Financial by Capital One Financial. Waters, D-Calif., said Wednesday (Feb. 21) that she is “deeply opposed” to the...
February 14, 2024
A top House Republican says the White House’s new beneficial ownership rules are needlessly complex. U.S. Rep. Patrick McHenry, (R-N.C.), head of the House Financial Services Committee, questioned the new reporting requirements during...
October 22, 2023
The battle over the Consumer Financial Protection Bureau’s (CFPB) efforts around small business data collection continues following a Senate vote to reverse that rule. The Senate voted Wednesday (Oct. 18) to...
