Tagged: house committee on financial services

March 29, 2023 @ 9:11 am By JD Alois  |  

Federal regulators will return to Capitol Hill today to continue the discussion on the events that led up to the failure of multiple banks at a hearing of the House Financial Services Committee. Yesterday, regulators testified in front of the Senate Banking Committee. While little… Read More

February 1, 2023 @ 9:59 pm By JD Alois  |  

The House Financial Services Committee has announced its first round of hearings under the leadership of Chairman Patrick McHenry. First on the list is a full Committee hearing on the economic threat of China. Other hearings include the Subcommittee on Capital Markets scheduling a session on… Read More

December 19, 2022 @ 3:06 pm By JD Alois  |  

The incoming Chair of the House Committee on Financial Services, Patrick McHenry, has issued a statement that he plans to add Financial Services Innovation Offices (FSIOs) back on the agenda. As the Republicans will take over the House in January after gaining the majority in… Read More

December 15, 2022 @ 12:40 pm By JD Alois  |  

This past Tuesday, the House Committee on Financial Services hosted a hearing with a single witness – John J. Ray, III, the new CEO of FTX. Originally, the Committee had scheduled the former CEO of FTX, Sam Bankman-Fried, to testify, but his arrest the day… Read More

December 12, 2022 @ 3:32 pm By JD Alois  |  

Tomorrow’s hearing at the House Financial Services Committee is widely anticipated across the crypto industry. Both current FTX CEO, John J. Ray, III, and former FTX CEO Sam Bankman-Fried, are scheduled to testify on the collapse of FTX. In advance of the hearing, Ray has… Read More

December 9, 2022 @ 9:08 am By JD Alois  |  

Sam Bankman-Fried, founder and former CEO of FTX – the now bankrupt crypto exchange, has committed to testifying in front of the House Committee on Financial Services to discuss the collapse of FTX and affiliated entities. The agreement to testify came today following a back… Read More

December 6, 2022 @ 10:01 am By JD Alois  |  

Representative Maxine Waters, Chair of the House Committee on Financial Services, returned to Twitter to prod Sam Bankman-Fried to testify in front of a Committee hearing next week on the FTX bankruptcy. Earlier this month, Chair Waters invited Bankman-Fried to testify via Twitter. Bankman-Fried responded,… Read More

December 4, 2022 @ 4:33 pm By JD Alois  |  

Sam Bankman-Fried, the former CEO of bankrupt crypto exchange FTX, has agreed to testify in front of the House Committee on Financial Services contingent upon what happens from now until December 13th – the day the hearing is scheduled. As was previously reported, the Chair… Read More

December 3, 2022 @ 5:29 pm By JD Alois  |  

Representative Maxine Waters, the Chair of the House Committee on Financial Services, has Tweeted asking Sam Bankman-Fried, former CEO and founder of FTX, to testify in front of her Committee this month. Bankman-Fried has been making the PR rounds in the wake of the collapse… Read More

November 16, 2022 @ 10:52 am By JD Alois  |  

The House Committee on Financial Services has announced a hearing on the failure of FTX and its affiliated entities. The announcement was bipartisan in nature as the current Chair of the Committee, Maxine Waters, was joined by Ranking Member Patrick McHenry in announcing the hearing… Read More

November 8, 2022 @ 4:53 pm By JD Alois  |  

Following the news that Binance will acquire FTX.com due to liquidity problems, Congressman Patrick McHenry, the ranking Republican member on the House Committee on Financial Services, has issued a statement that there is a need for Congressional action. McHenry has long been supportive of Fintech… Read More

October 26, 2022 @ 3:43 pm By JD Alois  |  

Representatives Patrick McHenry and Bill Huizenga have sent a letter to Representative Maxine Waters asking the Chair of the House Financial Services Committee to convene a hearing in November with SEC Chair Gary Gensler. McHenry is the Ranking Republican on the House Financial Services Committee… Read More

October 11, 2022 @ 2:56 pm By JD Alois  |  

All financial services will eventually be Fintech services, but some traditional financial firms struggle to become digitally native. Traditional banks, typically smaller ones, fall into this category. Most of these smaller banks have purchased services from Fintechs, thus providing modern platforms – others have partnered… Read More

October 5, 2022 @ 12:30 pm By JD Alois  |  

Representative Patrick McHenry, ranking Republican on the House Financial Services Committee, along with Representative French Hill and members of the Republican Digital Asset Working Group, have sent a letter to the US Department of Justice requesting an assessment on whether or not legislation is needed… Read More

September 20, 2022 @ 5:50 pm By JD Alois  |  

As was previously announced the House Financial Services Committee will be holding a hearing tomorrow (September 21st) entitled “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks.”  The largest banks in the US will each have CEOs participating in the hearing, including: Jamie Dimon,… Read More

September 19, 2022 @ 3:43 pm By JD Alois  |  

The House Financial Services Committee, Subcommittee on National Security, International Development and Monetary Policy will convene a hybrid hearing entitled, “Under the Radar: Alternative Payment Systems and the National Security Impacts of Their Growth.” According to the hearing memo, alternative payment systems can operate independently… Read More

September 14, 2022 @ 10:22 pm By JD Alois  |  

Chair of the House Committee on Financial Services, Maxine Waters has announced the witnesses expected to testify in front of a hearing on “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks.”  The witnesses on the list contain most of the biggest names in… Read More

August 31, 2022 @ 4:02 pm By JD Alois  |  

Maxine Waters, Chairwoman of the House Committee on Financial Services, has posted the calendar for September hearings with several topics of note on the list. On Tuesday, September 20 at 10 a.m. ET, the Subcommittee on National Security, International Development, and Monetary Policy will meet… Read More

August 10, 2022 @ 11:49 am By JD Alois  |  

Chair of the House Committee on Financial Services, Maxine Waters, has sent a letter to Equifax demanding to know how they managed to distribute bogus credit scores. Representative Waters issued the following statement on the debacle: “I am alarmed at recent news reporting that for… Read More

May 31, 2022 @ 10:07 am By JD Alois  |  

The House Committee on Financial Services has posted its calendar for the month of June. Of interest is a hearing scheduled by the Task Force on Financial Technology (Fintech) addressing the topic of “Tech Bro Culture.” Entitled “Combatting Tech Bro Culture: Understanding Obstacles to Investments… Read More