Congress

Treasury Asks Congress for Stronger Crypto Sanction Powers
Treasury Asks Congress for Stronger Crypto Sanction Powers
April 09, 2024  |  Cryptocurrency

The U.S. Treasury Department wants more tools to curb terror financing. Deputy Secretary Adewale O. Adeyemo is due to testify before the Senate Banking Committee Tuesday (April...

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HFSC Chairman Patrick McHenry Calls for Transparency in Financial Regulation
HFSC Chairman Patrick McHenry Calls for Transparency in Financial Regulation
March 21, 2024  |  Regulation

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...

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California Forges Ahead With AI Rules as Federal Regulations Lag Behind
California Forges Ahead With AI Rules as Federal Regulations Lag Behind
March 15, 2024  |  artificial intelligence

California’s recent vote to regulate artificial intelligence (AI) and personal data use by businesses underscores growing concern over the risks posed by these technologies in...

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Critics Blast CFPB’s ‘One-Size-Fits-All’ Approach to Digital Payments Oversight
Critics Blast CFPB’s ‘One-Size-Fits-All’ Approach to Digital Payments Oversight
March 13, 2024  |  CFPB

The Consumer Financial Protection Bureau (CFPB) is overstepping its bounds when it comes to regulating digital payments firms — especially larger players — critics charged...

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Fed’s Jerome Powell Says ‘Nowhere Near’ Moving Forward With CBDC
Fed’s Jerome Powell Says ‘Nowhere Near’ Moving Forward With CBDC
March 07, 2024  |  CBDC

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...

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Lawmakers Say FDIC Has ‘Moved Backwards on Innovation’
Lawmakers Say FDIC Has ‘Moved Backwards on Innovation’
February 02, 2024  |  Innovation

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...

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Lawmakers Oppose CFPB’s Proposed Rule on Supervising Nonbank Financial Firms
Lawmakers Oppose CFPB’s Proposed Rule on Supervising Nonbank Financial Firms
January 30, 2024  |  CFPB

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...

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US Lawmakers Debate $70 Billion in Tax Breaks for Businesses, Families
US Lawmakers Debate $70 Billion in Tax Breaks for Businesses, Families
January 15, 2024  |  Economy

U.S. lawmakers are engaged in discussions over a potential deal that could provide $70 billion worth of tax breaks for businesses and families.  The proposal,...

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Congressional Working Group to Study AI’s Impact on Financial Services 
Congressional Working Group to Study AI’s Impact on Financial Services 
January 11, 2024  |  Artificial Intelligence

A bipartisan congressional working group will explore the impact of artificial intelligence (AI) on the financial services and housing industries.  The formation of the Working...

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