House Financial Services Committee

The House Financial Services Committee dug into regulators' plans for the interim period before President-elect Trump takes office, and lobbed pointed questions at Federal Deposit Insurance Corp. chair Martin Gruenberg, who several members said should have resigned his post amid a sexual harassment scandal at the agency.

Republican lawmakers want the Treasury secretary to extend the deadline for U.S. businesses to submit beneficial ownership information to the agency's Financial Crimes Enforcement Network. She emphasized that the agency is focused on penalizing willful non-compliance rather than enforcing 'gotcha' penalties against small businesses.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.

A House hearing showcased a bipartisan consensus on the need to regulate stablecoins, but the parties disagree down to the definitions, making the legislation's future uncertain.

Failing to raise the debt ceiling could throw the Treasury market into disarray, and Republicans' message is undercut in Washington.

The letter from House Financial Services Chair Maxine Waters and Rep. Al Green points to laws passed by some state and local legislatures where financial institutions have been required to disclose whether they had ever profited from slavery in order to operate in their jurisdiction.

Democrats face the brunt of this year’s tough elections among the key financial committees in Congress, but Republicans are retiring in greater numbers.

Consumer Financial Protection Bureau Director Rohit Chopra has helped assert the authority of the three Democrats — including himself — who serve on the governing body of the Federal Deposit Insurance Corp. GOP lawmakers responded with a bill to strip the consumer agency's head of voting powers on the FDIC board.

Some of the biggest names in crypto will head to Capitol Hill next week as lawmakers weigh new rules for the white-hot asset class.

The Federal Reserve chairman told lawmakers that the central bank wouldn't try to block other cryptocurrency providers if it decides to issue a digital dollar. At the same hearing, Treasury Secretary Janet Yellen continued to defend a proposal requiring banks to report customer account information to the IRS.