Consumer Financial Protection Bureau Director Rohit Chopra took note during his Wednesday appearance before the Senate Banking Committee that companies including PayPal and JPMorgan are monetizing customers’ financial data — warning the country is moving toward an age of “financial surveillance.” The focus of the...
In testimony before Congress, Federal Reserve Chairman Jerome Powell said that the idea of the United States adopting a central bank digital currency (CBDC) is far from being realized. Speaking to the Senate Banking Committee Thursday (March 7), Powell said that the Federal Reserve is “nowhere near” moving...
Bank CEOs are set to appear before the Senate Banking Committee to protest new regulations and capital hikes, arguing that these measures will harm the economy. The CEOs of major banks, including J.P. Morgan, Bank of America, Citigroup, Wells Fargo and others, are expected to...
The cryptocurrency industry has long been asking Washington for more regulatory clarity. This week could finally put the sector on the road to that goal, as U.S. lawmakers begin considering landmark legislation that would govern the digital tokens. “Obviously we’ve had some important decisions come...
March 29, 2023
Few debates rage as fiercely today as how to protect bank customers — and how much protection they need. A trio of regulators appeared before the Senate Banking Committee on Tuesday (March 28) to discuss what went wrong at Silicon Valley Bank and Signature Bank, why they collapsed — and how much it all will […]
March 27, 2023
It’s common practice on Capitol Hill for witnesses — appearing before various committees — to release their testimony ahead of time. And what’s written down sets the tone for the...
December 09, 2024
The Consumer Bankers Association (CBA) said Monday (Dec. 9) that the incoming Trump administration and new Congress present opportunities to reverse the Consumer Financial Protection Bureau’s (CFPB) “radical pendulum shift.” The association said this in a letter dated Monday, addressed to the chairman and the ranking member of the Senate Banking Committee, and sent ahead […]
March 07, 2024
In testimony before Congress, Federal Reserve Chairman Jerome Powell said that the idea of the United States adopting a central bank digital currency (CBDC) is far from being realized. Speaking to the Senate...
December 04, 2023
Bank CEOs are set to appear before the Senate Banking Committee to protest new regulations and capital hikes, arguing that these measures will harm the economy. The CEOs of major...
July 26, 2023
The cryptocurrency industry has long been asking Washington for more regulatory clarity. This week could finally put the sector on the road to that goal, as U.S. lawmakers begin considering...
