Tag: Congress
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Congress members lob dueling gun code bills
As the debate over gun control continues to rage in Congress, lawmakers are putting forward dueling pieces of legislation in an attempt to address the issue. Background Gun violence has been a persistent problem in the United States for decades, with mass shootings occurring regularly and high rates of gun-related deaths. In response to these…
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Yellen asks Congress for stablecoin legislation
Recently, US Treasury Secretary Janet Yellen urged Congress to implement legislation that adequately regulates stablecoins, digital currencies designed to maintain a stable value against a widely adopted asset or basket of assets such as traditional currencies or commodities. Speaking before the House Financial Services Committee on July 14, Yellen expressed concerns over the potential risks…
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Congressional card bill won’t yield benefit
Recently, Congress has passed a controversial bill aimed at curbing credit card abuse and protecting consumer rights. However, despite its good intentions, the Congressional Card Bill is likely to have unintended consequences that could outweigh any potential benefits. In this article, we delve into the reasons why this legislation may not yield the desired outcomes…
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Congress members seek clarity on CFPB bid to oversee digital wallets
Congress Members Seek Clarity on CFPB Bid to Oversee Digital Wallets Amidst the rapid growth of digital payment platforms, the Consumer Financial Protection Bureau (CFPB) recently proposed regulation to gain oversight on digital wallets. This move has since caught the attention of several members of Congress, who are now seeking clarity on the matter.…
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Congressional committee passes bill to thwart CBDC
Congressional Committee Passes Bill to Thwart CBDC In a significant move, a congressional committee has passed a bill aimed at preventing the implementation of a Central Bank Digital Currency (CBDC) in the United States. The bill’s approval is a reflection of growing concerns surrounding CBDCs and their potential impact on the economy, financial stability,…
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Digital dollar bill resurfaces in Congress
Digital Dollar Bill Resurfaces in Congress Amidst the rapid advancements in technology and the evolving nature of financial transactions, the idea of a digital dollar bill has once again entered the halls of the United States Congress. With cryptocurrencies gaining popularity and central bank digital currencies (CBDCs) being explored worldwide, it seems apt to initiate…