House Financial Services Committee Chair Patrick McHenry asked the FDIC to explain its financial innovation strategy as well as the agency's examination and supervisory actions toward financial institutions and fintechs.
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Senate Banking Committee Chair Sherrod Brown warned that "scammers and fraudsters have ramped up their efforts to take people’s money" through peer-to-peer payment apps, and criticized banks and financial service companies for standing "on the sidelines."
House Financial Services Chair Patrick McHenry challenged a CFPB proposed rule to expand its regulatory authority into the market for digital consumer payments.
Twelve Senate Democrats urged FRB Vice Chair Michael S. Barr, FDIC Chair Martin J. Gruenberg and OCC Acting Comptroller Michael J. Hsu to adopt proposed regulatory capital rules "to complete adoption of the Basel standards, strengthen the resiliency of our financial system, and ensure that American consumers, workers, and businesses are better protected from future economic distress."
House Financial Services Subcommittee on Oversight and Investigations Chair Bill Huizenga (R-MI) asserted that the SEC overstepped its authority by "advancing a progressive climate agenda."