House Financial Services Committee

Federal Reserve Sets Guidelines for Banks’ Use of Stablecoins
Federal Reserve Sets Guidelines for Banks’ Use of Stablecoins
August 28, 2023  |  Regulation

A new Federal Reserve supervisory letter on the process for state member banks using dollar tokens, such as stablecoins, to facilitate payments has drawn the...

READ MORE >
Crypto Company Circle Prepares for New Products and Global Expansion
Crypto Company Circle Prepares for New Products and Global Expansion
August 10, 2023  |  Cryptocurrency

Crypto company Circle Internet Financial is counting on its $1 billion cash cushion to weather fresh competition from non-crypto companies such as PayPal Holdings. Stablecoins are a...

READ MORE >
US Lawmakers Prepare to Tackle Landmark Crypto Bill
US Lawmakers Prepare to Tackle Landmark Crypto Bill
July 26, 2023  |  Cryptocurrency

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,...

READ MORE >
132 Members of Congress Say CFPB Funding Structure Unconstitutional
132 Members of Congress Say CFPB Funding Structure Unconstitutional
July 11, 2023  |  CFPB

A group of 132 members of Congress favor challenging the funding structure of the Consumer Financial Protection Bureau (CFPB). The group filed an amicus curiae brief to the...

READ MORE >
HFSC Chairman Patrick McHenry Opposes Biden Administration Mortgage Plan
HFSC Chairman Patrick McHenry Opposes Biden Administration Mortgage Plan
June 23, 2023  |  Politics

The chairman of the House Financial Services Committee aims to reverse a Biden Administration mortgage plan. Rep. Patrick McHenry (R-North Carolina) said Friday (June 23)...

READ MORE >
Lawmakers Introduce Legislation to Reform FinCEN and Protect Small Business Data
Lawmakers Introduce Legislation to Reform FinCEN and Protect Small Business Data
June 12, 2023  |  Regulation

In today’s fast-paced world, financial crimes are becoming increasingly common, and it’s crucial to safeguard consumers and businesses.  Lawmakers are moving to reform the Financial...

READ MORE >
Lawmakers Demand FinCEN Educate Businesses on Beneficial Ownership Reporting Requirements
Lawmakers Demand FinCEN Educate Businesses on Beneficial Ownership Reporting Requirements
June 08, 2023  |  Regulation

Lawmakers are demanding greater clarity on FinCEN’s forthcoming beneficial ownership reporting requirements. In a Wednesday (June 7) letter to Financial Crimes Enforcement Network (FinCEN) Acting Director Himamauli Das and U.S. Treasury Secretary Janet Yellen,...

READ MORE >
McHenry: Biden Created ‘Perfect Storm’ for Banking Crisis
McHenry: Biden Created ‘Perfect Storm’ for Banking Crisis
May 17, 2023  |  Bank Regulation

A top House Republican says White House “mismanagement” helped trigger the recent banking crisis. Rep. Patrick McHenry (R-N.C.) chairs the House Financial Services Committee, which...

READ MORE >
Partisan Battle Lines See Crypto Stablecoin Payment Regulation Stalling Out
Partisan Battle Lines See Crypto Stablecoin Payment Regulation Stalling Out
April 19, 2023  |  Cryptocurrency

Two congressional hearings later, and crypto’s future in the U.S. remains as uncertain as ever. Fresh from Tuesday’s (April 18) House Financial Services Committee hearing...

READ MORE >