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Rep. Warren Davidson in The Hill: Setting the record straight and debunking unworkable illicit finance proposals

| Posted in Member Corner

January 8, 2024 | By Rep. Warren Davidson (R-Ohio) Congress has been inundated with calls to create an expansive anti-money laundering framework to address the over-exaggerated (and often mischaracterized) presence of illicit finance in the digital asset ecosystem. It’s time we had a serious discussion on what these proposals…

CNBC: Republican draft bill would tighten rules for finance firms using customer information

| Posted in Member Corner

By Lauren Feiner, CNBC A new draft bill lays the groundwork for how House Republicans will tackle financial data privacy if they win back the majority in the chamber this November. The discussion draft would modernize a financial data protection law known as the Gramm-Leach-Bliley Act. It could end up applying to companies like Intuit-owned Mint and Plaid by including…

The U.S. Should Stay Its Course

| Posted in Member Corner

By Rep. Blaine Luetkemeyer and Rep. Bill Huizenga This summer, regulators in China blocked Didi Chuxing, the country’s largest ride-hailing service, from signing up new customers through its app after Chinese regulators claimed the company was lax in protecting users’ personal data. This move followed Beijing’s eleventh-hour intervention last November to prevent Ant Group’s $35 billion…

Don’t Let China Rewrite the Rules for the Global Economy

| Posted in Member Corner

By Rep. French Hill and Rep. Tom Emmer The World Health Organization’s (WHO) ineptitude in the early days of COVID-19 shed light on China’s growing influence over international institutions. The decline of the WHO should serve as a warning as China seeks to expand its malign reach, particularly in economic governance at the International Monetary Fund (IMF), the World Bank, and the…

How to Beat China—America’s Way

| Posted in Member Corner

By Rep. Andy Barr and Rep. Ann Wagner Leaders of the Chinese Communist Party (CCP) are engaged in an organized, coordinated effort to usurp the United States as the world’s preeminent economic, military and technological power.  Defending against these advances is one of the most significant geopolitical challenges in a generation.  However, we cannot beat China by becoming…

How the U.S. Can Beat China

| Posted in Member Corner

By Rep. Patrick McHenry As the Biden administration’s inept evacuation from Afghanistan unfolded in August, the president sought to change the subject by saying that an exit would help Americans focus on a more serious threat: China. But with its Afghan policy so disastrously executed, the administration’s message sounded as if someone struggling to master checkers had…

Op-ed: We need a better plan to get Americans back to work

| Posted in Member Corner

By Rep. Patrick McHenry, R-N.C. | July 15, 2021   This year began with a question about whether we had done enough to secure a full economic recovery. Now the question is: can our economy handle this recovery?   Prices are rising and they are rising fast — unsound fiscal policy and government spending are contributing to these higher costs. Families are…

While Democrats Play Political Games, Financial Institutions Continue to Work for Small Businesses

| Posted in Member Corner

Just two weeks after being stood up, funding for the Paycheck Protection Program (PPP)—a popular and necessary program for America’s struggling small businesses—ran out. While Republican efforts to replenish this fund have been stalled, financial institutions of all sizes are stepping up to ensure that as soon as Democrats stop playing political games, they are ready to rush critical…

Hensarling Opening Statement at Hearing with Federal Reserve Vice Chairman for Supervision

| Posted in Member Corner

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s hearing with the Federal Reserve’s Vice Chairman for Supervision Randal Quarles: This morning, we welcome back for his semi-annual testimony, The Honorable Randy Quarles, the Federal Reserve’s Vice Chairman for Supervision. As we know all too well, the Dodd-Frank Act…

Groups Praise House Efforts in Regulatory Reform Package

| Posted in Member Corner

In the years following the recent financial crisis, our community financial institutions have cited costly, burdensome, and one-size-fits-all Washington regulations as major roadblocks to their ability to grow  and serve their customers. Over the past several months, the House of Representatives has passed dozens of strongly bipartisan pro-growth bills to help not only our community…

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