Tag: Congress

Capital and Risk, Credit, Regulations

Credit card bill opposition builds

July 18, 2023

Via: Payments Dive

Last Friday, ten banking and payments trade associations, including the Electronic Payments Coalition, wrote a joint letter to Congress stating “strong opposition” to the Credit Card Competition Act, and a related amendment proponents of the bill seek to attach to […]

Capital and Risk, Macroeconomic

$1.7-Trillion Omnibus Includes Over $47 Billion for Ukraine, 291.9% Increase in Drawdown Capabilities Since October 2022

January 9, 2023


The $1.7-trillion, 4,155-page omnibus bill passed during the last week of the 117th Congress to fund the government through Sept. 30, 2023 includes over $47 billion for Ukraine, and increases the president’s drawdown capabilities by 291.9% since October 2022. The […]


Congressman calls for increased digital wallet protection

May 4, 2022

Via: Payments Dive

Rep. Stephen Lynch, the chair of the House Task Force on Financial Technology, has proposed legislation that would provide additional consumer protections against being ripped off by fraudsters online. Called the Protecting Consumers From Payments Scams Act, the bill — […]

Capital and Risk, Credit

Will Congress Take Away Your Credit Card?

December 7, 2021


How would you feel about Congress snatching away your credit card or preventing you from participating in credit card reward programs? Don’t laugh. Left-wing groups in Washington are declaring that the plastic card in your wallet is the financial villain […]

Capital and Risk, Channels, Credit

Retail groups urge credit swipe routing changes

October 19, 2021

Via: Payments Dive

Over 10 years after Congress brought competition to how in-store debit card transactions are processed, the Federal Reserve is finally seeking to clarify that the same rules apply to online debit transactions as well. The move has been strongly backed […]

Capital and Risk, Macroeconomic

New Tax Bill Puts a Stop to Incentives for Startup Investing

September 21, 2021

Via: JD Supra

An overlooked provision of the new, sweeping tax bill currently under consideration by Congress as part of President Joe Biden’s $3.5 trillion infrastructure plan would substantially limit the qualified small business stock (QSBS) capital gain exclusion for certain taxpayers. If […]


Insurance Is on Agenda at Today’s White House Cyber Summit With Tech Leaders

August 25, 2021

Via: Insurance Journal

The White House is hosting an event on Wednesday that will bring together the largest U.S. technology companies for a discussion about cybersecurity challenges following a raft of high-profile hacking incidents earlier this year, people familiar with the event told […]

Capital and Risk, Macroeconomic

Sen. Cardin: ‘Very Hard to Predict’ When Budget Will Be Balanced

June 14, 2021


When asked when Congress would balance the budget given that President Biden’s budget plan racks up $14.5 trillion in cumulative deficits over the next 10 years, Sen. Ben Cardin (D-Md.) said, for now, the focus should be on growing the […]

Capital and Risk, Macroeconomic

Sen. Marshall: My Goal is to Balance the Budget, ‘Would Be a 10-Year Process’

June 9, 2021


Although President Biden’s budget proposal would create $14.5 trillion in federal deficits over the next 10 years, Sen. Roger Marshall (R-Kansas) said his goal is to balance the budget and that it could be done within 10 years. At the […]


Silicon Valley Democrat’s bill would give the IRS more money to audit millionaires, corporations

February 18, 2021


Rep. Ro Khanna, Silicon Valley’s lawmaker in Congress, on Thursday proposed a bill aimed at bulking up the Internal Revenue Service’s enforcement tools and ability to crack down on tax evasion. The legislation, if passed, would infuse the IRS with […]

Capital and Risk, Macroeconomic

As Washington delays stimulus, the Fed is running out of ways to help the economy

October 28, 2020


Federal Reserve officials have been pressing Congress to provide more fiscal help to the U.S. economy, and with good reason: The central bank is running out of ways it can help. Since the expiration of key provisions of the $2.2 […]

Capital and Risk, Macroeconomic

Future economic relief should care for more families

October 19, 2020

Via: FinTech Futures

The CARES Act partially stabilised the financial health of many families facing unemployment and other economic hardships in the wake of COVID-19. However, millions of immigrants and their families who pay taxes and provide essential services were not eligible for […]

Capital and Risk, Macroeconomic

Fed Chair Paints Rosy Economic Picture, but Says Risks Remain

November 13, 2019

Via: The New York Times

WASHINGTON — Jerome H. Powell, the Federal Reserve chair, will paint an optimistic picture of the United States economy in testimony before Congress on Wednesday, though he warns that threats to the outlook persist. “In particular, sluggish growth abroad and […]

Activity, Trading

Stocks open slightly lower after Trump’s SOTU address

February 6, 2019

Via: Daily Finance

U.S. stock futures were little changed Wednesday morning following President Donald Trump’s State of the Union address, wherein the president reiterated a hardline stance on trade policy and again called for Congress to come to an agreement to provide funds […]

Capital and Risk, Macroeconomic

Here’s how lost furloughed federal worker paychecks could weigh on the US economy

January 11, 2019


Federal workers furloughed by the ongoing partial government shutdown have been bearing the brunt of the political standoff between President Donald Trump and Congress over funding for a border wall. Those federal employees are feeling the squeeze on their wallets. […]


Is Congress Sowing the Seeds of the Next Banking Crisis?

April 4, 2018

Via: Bank Director

Three weeks ago today, the U.S. Senate passed a bank deregulation bill that either provides modest relief to one of the country’s most heavily regulated and scrutinized industries—or sows the seeds of our next great banking crisis. Sponsored by Sen. […]