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,...
The Consumer Financial Protection Bureau (CFPB) came under fire on Capitol Hill Thursday (March 7) from critics who charged that caps on credit card late fees, and other actions, would hurt innovation and banks’ customers in the long run. At the hearing, titled “Politicized Financial...
A half dozen regulators convened on Capitol Hill Tuesday (Dec. 5), pointing to the benefits of collaboration between government, the private sector and the public to gauge and address the risks and rewards of financial innovation. And though the hearing before the Digital Assets, Financial...
Change looms in the banking sector as various agencies have put forth proposals that would, among other things, raise capital requirements, mandate that banks with more than $100 billion in assets issue more debt and that almost all institutions re-assess risk. To that end, the...
March 07, 2024
The Consumer Financial Protection Bureau (CFPB) came under fire on Capitol Hill Thursday (March 7) from critics who charged that caps on credit card late fees, and other actions, would hurt innovation and banks’ customers in the long run. At the hearing, titled “Politicized Financial Regulation and its Impact on Consumer Credit and Community Development,” […]
October 06, 2020
The growth of the connected economy is predicated on — and is propelling — the emergence of online platforms. Those platforms — through Uber, Amazon, eBay and others — are...
February 09, 2022
Citing potential violation of federal law by GoFundMe Inc., GOP lawmakers have called for an investigation into the crowdfunding platform’s decision to withdraw a page accepting donations in support of protesting truckdrivers in Canada. In a letter to the Federal Trade Commission (FTC) on Sunday (Feb. 6), Sen. Ted Cruz (R-Texas) asked regulators to probe allegations that […]
July 26, 2020
A $1 trillion Republican version of a 4.0 COVID-19 stimulus bill is expected to be on Capitol Hill Monday (July 27). “This is all about kids and jobs,” U.S. Treasury...
March 25, 2020
Leaders in Washington reached an agreement Wednesday morning (March 25) on a $2 trillion bill to rescue the economy, the largest economic stimulus package in American history, according to multiple...
March 12, 2020
Japanese conglomerate SoftBank is boosting its lobbying efforts in Washington, D.C. to work on issues that align with its portfolio investments, Bloomberg reported on Thursday (March 12). The 36th biggest...
