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The Latest Breaking News from Patrick T McHenry

As FTX burned, lawmakers said to be dithering over regulator

WASHINGTON — Congress opted to tread water on legislation that would clarify the agency in charge of the cryptocurrency industry, leaving lawmakers now without a regulator to blame for missing the signs of the FTX collapse this month and facing deep skepticism about some proposals.

Tribune News Service

As FTX burned, lawmakers said to be dithering over regulator - Roll Call

FTX founder Sam Bankman-Fried’s prominence on Capitol Hill is said to have tainted bills deemed too favorable to the cryptocurrency industry.

Roll Call

Expected Financial Services chair found consensus with Democrats - Roll Call

Democrats said Rep. Patrick T. McHenry, R-N.C., expected Financial Services Committee chair, has sought to find bipartisan consensus.

Roll Call

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Lawmakers trip over privacy and security of digital dollar

WASHINGTON — Lawmakers from both parties say the Federal Reserve needs legislative authority to issue a digital dollar, but the two sides have so far been unable to find a balance between privacy and security that could overcome the partisan divide.

Tribune News Service

Lawmakers trip over privacy and security of digital dollar - Roll Call

House Democrats and Republicans agree the Fed needs legislation to issue a digital dollar, but differ on key elements of such a bill.

Roll Call

Can Congress buy in to digital dollar without legislation?

WASHINGTON — The White House’s exploration of a government-backed digital dollar is raising an implicit question that has received little attention: What role does Congress have in the decision?

Tribune News Service

Can Congress buy in to digital dollar without legislation? - Roll Call

The Fed says it needs congressional support to issue a digital currency, but it's unclear whether it has to be in the form of legislation.

Roll Call

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GOP midterm victory would add pressure on fintech regulators

If Republicans win control of Congress in the November midterms, people who closely follow financial technology expect pressure on regulators to push crypto-friendly rules across the finish line.

Tribune News Service

GOP midterm victory would add pressure on fintech regulators - Roll Call

Regulators may feel congressional pressure to finish some fintech rules after the midterms, but a GOP majority would want a light touch.

Roll Call

Political divide snags the digital update to anti-redlining law

Federal bank regulators' efforts to modernize the 45-year-old law known as the Community Reinvestment Act to reflect the rise of digital banking are raising accusations of partisanship, a claim that those digging into the details say is likely unfounded.

Tribune News Service

Bank executives warn lawmakers of lending risk among nonbanks - Roll Call

Bank executives warned House lawmakers that the biggest lenders in the mortgage market are nonbanks that face fewer capital requirements.

Roll Call

Political divide snags the digital update to anti-redlining law - Roll Call

Complaints of partisanship go on regardless which party is trying to update the Community Reinvestment Act for new financial technology.

Roll Call

McHenry, eyeing House Financial Services chair, racks up campaign donations

House Financial Services ranking Republican Patrick T. McHenry raised about $940,000 in campaign donations in the weeks leading up to and months after setting his sights on the panel chairmanship.

Tribune News Service

McHenry, eyeing Financial Services chair, racks up campaign donations

House Financial Services ranking member Patrick T. McHenry, a likely chair if Republicans retake the House, is racking up donations.

Roll Call

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Tribune News Service

Fintechs question CFPB’s faith in innovation over ‘safe harbors’

WASHINGTON — The Consumer Financial Protection Bureau’s decision to end temporary “safe harbors” for two financial technology companies is raising eyebrows in the community, with some wondering if the agency is committed to promoting financial innovation.

Roll Call

Fintechs question CFPB’s faith in innovation over ‘safe harbors’ - Roll Call

Financial technology firms are worried about the ramifications of a regulator’s decisions to end two temporary safe harbor protections.

Tribune News Service

Crypto-linked super PACs boost spending on primary races

WASHINGTON — Super PACs with ties to the cryptocurrency industry have spent at least $31.2 million in primary races ahead of this year’s midterms, with most of the money coming from a handful of executives at just one company.

Roll Call

Crypto-linked super PACs boost spending on primary races - Roll Call

Super PACs connected to the crypto industry are flexing their muscles in this year's primary campaigns as lawmakers consider regulations.

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