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...
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 U.S. House of Representatives will again consider a bill designed to protect the country’s financial infrastructure from ransomware attacks. The bipartisan “Ransomware and Financial Stability Act” was reintroduced Thursday (April 11) by House Financial Services Committee Chairman Patrick McHenry, R-N.C., and Rep. Brittany Pettersen, D-Colo.,...
House Financial Services Committee (HFSC) Chairman Patrick McHenry (R-N.C.) said Thursday (March 21) that the Basel III Endgame proposal and other projects threaten to give global governance bodies authority over American financial regulation. This threatens to weaken the country’s standing on the global stage, McHenry said in opening...
December 06, 2023
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 is up. McHenry, who briefly served as interim speaker of […]
October 24, 2022
Congress is out of session. The midterm elections loom. Rep. Patrick McHenry (R-N.C.) told Karen Webster that regardless of the outcome, stablecoin regulation will be on the agenda when legislators...
June 11, 2024
House Financial Services Committee (HFSC) Chairman Patrick McHenry, R-N.C., condemned a proposed rule announced Tuesday (June 11) by the Consumer Financial Protection Bureau (CFPB), saying it would upend the American credit and healthcare systems. McHenry’s statement came in response to the CFPB’s announcement that with its proposed rule, it seeks to ban medical bills from […]
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...
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...
April 11, 2024
The U.S. House of Representatives will again consider a bill designed to protect the country’s financial infrastructure from ransomware attacks. The bipartisan “Ransomware and Financial Stability Act” was reintroduced Thursday...
