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The Latest Breaking News from Financial Services

Luetkemeyer, Hill favorites for top Financial Services Republican - Roll Call

Reps. Blaine Luetkemeyer, R-Mo., and French Hill, R-Ark., are seen as favorites to become the top Republican on House Financial Services.

Roll Call

House GOP pulls Financial Services bill from the floor - Roll Call

Republicans pulled another fiscal 2024 spending bill before a final vote that was scheduled, leaving them empty-handed for the week.

Roll Call

How Patrick McHenry went from partisan ‘attack dog’ to holding the House’s fate

Once “a pain in the neck” to Democrats, McHenry earned their respect. Now the North Carolina Republican is acting as speaker pro tempore.

Roll Call

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2 Financial Stocks to Buy in August, 1 to Watch for Growth

The benchmark interest rate is at its highest level since 2001. This is good news for the financial sector as it benefits from high-interest rates. With the Fed unlikely to start cutting rates anytime soon, the financial sector should continue to benefit. Therefore, buying financial stocks CPI Card Group (PMTS)…

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3 Financial Service Stocks With Potentially Massive Returns

Despite the U.S. economy appearing to be on track to achieve the elusive soft landing, an increase in borrowing costs in the wake of further rate hikes by the Fed yesterday and ECB earlier today deem diligent analysis and management of credit risks. This could brighten the prospects of fundamentally…

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Are Investors Buying Block (SQ) in June?

Fintech company Block, Inc. (SQ) has shrugged off an unfavorable Hindenburg report with a revenue beat in the last quarter. Should investors buy the stock now? Let’s look at its financial metrics to know more….

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Granger sets fiscal 2024 funding targets below debt limit deal

With House GOP leaders under pressure from hard-right lawmakers, Republican appropriators in that chamber will write their fiscal 2024 spending bills to meet the tight budget caps that Freedom Caucus and other spending hawks have sought since January.

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Granger sets fiscal 2024 funding targets below debt limit deal - Roll Call

House Republican appropriators will write their fiscal 2024 spending bills to meet the tight budget caps sought by the Freedom Caucus and other spending hawks.

Roll Call

Is SoFi Technologies (SOFI) a Buy Right Now?

Despite SoFi Technologies’ (SOFI) robust topline growth, its weak profitability is concerning. Let’s look at its financial metrics to see whether it is a buy right now….

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Buy now, pay later services will be considered credit products by the end of the year. Here's how it will work

The federal government will classify buy now, pay later options as credit products, as part of sweeping changes to protect both consumers and the industry. Here's what it means in practice.

ABC News

House GOP tries panel collaboration on crypto; Democrats leery - Roll Call

House Agriculture and Financial Services Republicans are collaborating in an effort to agree on a legislative framework for cryptocurrencies.

Roll Call

4 Popular Stocks You Need to Sell or Avoid Completely in 2023

Despite the Fed’s best efforts, inflation remains above the comfort zone. Minutes from the Fed’s meeting show that officials are keen on raising interest rates. This could keep the stock market under pressure this year. Therefore, it could be wise for investors to steer clear of Shopify (SHOP), Snap (SNAP),…

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House GOP appropriators unveil tighter earmark rules - Roll Call

House Republican appropriators have banned earmarks from the Labor-HHS-Education, Financial Services and Defense bills under new rules.

Roll Call

House GOP appropriators set to unveil new earmark restrictions - Roll Call

Leaders of two Appropriations subcommittees said they will not allow earmarks in their fiscal 2024 spending bills.

Roll Call

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Tribune News Service

House GOP mulls putting ‘woke’ earmarks on chopping block

WASHINGTON — House GOP appropriators are gearing up to potentially bar local projects entirely from the largest domestic spending bill for fiscal 2024, along with others deemed “woke” by critics of earmarks funded in the December omnibus package.

Roll Call

House GOP mulls putting 'woke' earmarks on chopping block - Roll Call

House GOP appropriators are gearing up to potentially bar local projects entirely from the largest domestic spending bill for fiscal 2024.

StockNews.com

1 Financial Stock to Sell in February and 1 to Buy

The higher-than-expected CPI and strong jobs data raised the prospect of aggressive interest rate hikes in the upcoming months. This should benefit financial companies as a rising rate environment allows them to generate higher interest income. Given this backdrop, while struggling financial stock SoFi Technologies (SOFI) is best avoided, it…

Tribune News Service

Gavels for top House committees don’t always come cheap

Winning control of the most sought-after committees in the House can come with a hefty price tag — in party dues.

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Roll Call

Gavels for top House committees don’t always come cheap - Roll Call

A study by a campaign finance advocacy group criticized big donations that leaders of top committees paid as “party dues.”

Chicago Sun-Times

Rep. Quigley shocker: Democratic leader Jeffries knocks him off Intel panel

A spokesperson for House Democratic Leader Hakeem Jeffries said Jeffries “made clear” to Quigley that term limits prevented him from staying on the panel.

Fortune

Congressional Republicans have Gary Gensler in their crosshairs

Rep. Hill on his new digital assets subcommittee.

StockNews.com

Does Block Stock Deserve a Spot in Your Portfolio in 2023?

With persistent macroeconomic uncertainties surrounding interest rate hikes, let’s examine whether Block (SQ) has what it takes to deliver sustainable returns this year. Read on….

StockNews.com

Is SOFI a Penny Stock You Should Want to Buy?

Financial services company SoFi Technologies (SOFI) recorded impressive growth across its business segments. However, the company’s losses widened, and analysts seem bearish about its earnings growth prospects due to its bleak fundamentals and the potential recessionary pressures. Thus, is it wise to buy this under $5 fintech stock? Read more…

StockNews.com

1 Financial Services Stock to Buy This Week and 2 to Sell

The broader macroeconomic headwinds have dampened the growth of the financial services industry this year. While fundamentally weak financial services stocks SoFi Technologies (SOFI) and Exela Technologies (XELA) are expected to remain under pressure, continued technological advancements should help Forrester Research (FORR) stay resilient. Keep reading….

Tribune News Service

These are the soon-to-be former members K Street wants to woo

WASHINGTON — Texas Rep. Kevin Brady, a former chairman of the Ways and Means panel, enjoys something of a standing invitation on K Street.

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