Tagged: maxine waters

House of Representatives Passes the Crowdfunding Amendments Act by Voice Vote

The US House of Representatives passed HR 4860 or the Crowdfunding Amendments Act by a voice vote today thus indicating broad bipartisan support. The bill was part of a grouping of five financial services bills each quickly approved by the House. The bill was introduced by… Read More

Mark Zuckerberg Takes a Beating on the Hill While Launching Defense of Libra & Facebook’s Past Actions

Mark Zuckerberg, CEO of Facebook, spent over 6 hours today testifying in front of the powerful House Financial Services Committee. While his prepared remarks foreshadowed his defense of Facebook’s Libra stablecoin, little can prepare you for the onslaught of questions delivered by every single Committee… Read More

Facebook’s Libra On Deck: Mark Zuckerberg to Testify Before House Financial Services Committee

Mark Zuckerberg, CEO of Facebook, is scheduled to testify in front of the House Financial Services Committee later this month in what is expected to be a thorough grilling regarding Facebook’s stablecoin Libra and Facebook’s operations in general. Congresswoman Maxine Waters (D-CA), Chairwoman of the… Read More

US House Financial Services Subcommittee Debates the Merits of Securities Exemptions & Accredited Investor Definition

Yesterday, the House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets held a hearing entitled “Examining Private Market Exemptions as a Barrier to IPOs and Retail Investment.” The hearing saw a debate on the merits of private securities exemptions, such as Reg D, Reg… Read More

Bug Bounty Program for Facebooks Libra Coin Now Live

After kicking up an unprecedented uproar from global regulators, Facebook appears to be pressing on full steam with development of Libra, the company’s proposed global cryptocurrency network. Facebook has now announced a “bug bounty” program that “reflects the Libra Association’s principles of openness, transparency, and global… Read More

Chair of House Financial Services Committee Maxine Waters Comments on Trip to Switzerland & Facebook’s Libra Plan: “My Concerns Remain”

Congresswoman Maxine Waters, the Chairwoman of the influential House Financial Services Committee, has issued a statement on her Bipartisan trip to Switzerland to learn more about Facebook’s plan to launch a stablecoin dubbed Libra. Facebook has incorporated Libra in the crypto-friendly jurisdiction of Switzerland like… Read More

Facebook Finds Few Friends on House Financial Services Committee as Libra Head David Marcus Endures Skepticism for its Crypto Plan

This past week much of the Fintech news was dominated by hearings in Congress addressing Facebook’s plan to launch a global, blockchain-based, payments platform using a stablecoin, of sorts, as a foundation. This global currency, which may be able to challenge sovereign currency, is said… Read More

Fed Chair Powell Peppered with Questions on Facebook’s Libra at House Financial Services Committee Hearing

The House Financial Services Committee welcomed Fed Chair Jerome Powell today to share his perspective on the state of the US economy and his opinion on the effectiveness of monetary policy. While Powell’s prepared remarks kicked off a bit of a rally on Wall Street… Read More

Inside the Beltway: July is a Busy Month for Fintech in DC

Tomorrow, the Federal Reserve Chair Jerome Powell will spend a good amount of time in front of the House Financial Services Committee. The following day, Powell will experience a similar round of questions at the Senate Banking Committee. Powell is certain to endure a standard… Read More

Libra CEO Tells House Financial Services Committee that Facebook is “Taking the Time to do (Libra Coin) Right”

The CEO of Facebook’s cryptocurrency project, David Marcus, has written to assure the powerful US House Financial Services Committee that Facebook is proceeding with caution as it works to launch Libra. Five members of the Committee, including its Chair, Maxine Waters, sent a letter to… Read More

US House Representatives Ask Facebook for Moratorium on Implementation of Libra Coin

Five US House Representatives have submitted a letter to Facebook asking the company to, “immediately agree to a moratorium on any movement forward on Libra- its proposed cryptocurrency and Calibra- its proposed digital wallet.” The letter was forwarded by the powerful House Financial Services Committee… Read More

Here is Congresswoman Maxine Waters’ Statement on Facebook’s Crypto Libra

Representative Maxine Waters, Chairwoman of the powerful House Financial Services Committee issued the following statement in the wake of Facebook’s cryptocurrency announcement today. Facebook’s “Libra” is a stablecoin created from a basket of assets but the ecosystem also has the ability to create smart contracts… Read More

US Politicians Line Up to Question Facebook’s Cryptocurrency Libra: Senator Sherrod Brown says Facebook is Already Too Big

Several US politicians have issued statements critical of Facebook’s new cryptocurrency – Libra. Officially announced today, Libra is first a payment platform but Facebook has much bigger ambitions with the crypto. Facebook views it as a step in the direction of redefining financial services. US… Read More

House Financial Services Committee Announces Two Task Forces: Fintech and Artificial Intelligence

The House Financial Services Committee under the leadership of Congresswoman Maxine Waters, Chairwoman of the Committee, has announced the creation of a Task Force on Financial Technology or Fintech and a Task Force on Artificial Intelligence (AI). These two specific topics have emerged in importance… Read More

Several Interesting Hearings Scheduled by the House Financial Services Committee for Early April

This week, the House Financial Services Committee issued a note on upcoming hearings scheduled to take place in early April. Amongst the group are several interesting topics for the realm of Fintech. On Tuesday, April 9 at 10AM the Subcommittee on Consumer Protection and Financial… Read More

The House Financial Services Committee: What Should Fintech Expect from Chair Maxine Waters?

The House Financial Services Committee is one of the most powerful Congressional committees on the Hill. The Committee oversees not only the entire financial services industry but its policy portfolio also includes other overlapping responsibilities such as Housing, entrepreneurship and international financial organizations. Last election… Read More

SoFi Offering Bank Like Services, But it is Still Not a Bank

The definition of traditional banking continues to crumble as SoFi continues to extend invitations to their new bank-like service. Finally, I have received an email saying the wait is over. SoFi, a Fintech that started out as a student loan provider, has since morphed and… Read More

The JOBS and Investor Confidence Act Includes Crowdfunding Amendments

The JOBS and Investor Confidence Act (HR 6380), also called JOBS Act 3.0, is a grouping of 32 business friendly bills put together in a bipartisan effort to actually get something done. House Financial Services Committee Chair Jeb Hensarling stated; “Without a steady stream of small… Read More

JOBS Act 3.0: Representatives Hensarling and Waters Join on Bipartisan Bills to Boost Small Business & Help Entrepreneurs

In a profound act of bipartisanship, Representative Jeb Hensarling, Chairman of the powerful House Financial Services Committee, and Representative Maxine Waters, ranking member on the Committee, have joined together on a series of bills that are designed to “help America’s small businesses and entrepreneurs and to… Read More

Congresswoman Maxine Waters Wants a Hearing on SoFi’s Bank Application [u]

Congresswoman Maxine Waters, the ranking Democrat on the powerful House Financial Services Committee, published a letter last week directed toward thes Chairman of the Federal Deposit Insurance Corporation (FDIC). Representative Waters asked the Chairman to hold at least one public hearing on the application by… Read More

Send this to a friend