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Coalition Opposes Legislation Aimed at Limiting CFPB's Regulatory Power

Coalition Opposes Legislation Aimed at Limiting CFPB's Regulatory Power

A coalition of consumer, labor, community, and civil rights groups has sent a letter to the House Financial Services Committee expressing strong opposition to H.R. 10184, titled the 'Consumer Financial Protection Accountability and Reform Act of 2026.' According to Public Justice, a member of the coalition, this proposed bill would significantly curtail the Consumer Financial Protection Bureau's (CFPB) ability to oversee and hold large banks and technology companies accountable. The groups argue that the legislation would undermine the CFPB's mandate to protect individuals from unfair, predatory, and discriminatory financial practices. The letter highlights concerns that if enacted, the bill would weaken consumer protections across the financial sector, potentially leaving consumers more vulnerable to harmful practices by powerful financial institutions and emerging tech giants.

Stablecoins Could Boost U.S. Treasury Demand and Strengthen Dollar's Global Role, According to New Paper

Stablecoins Could Boost U.S. Treasury Demand and Strengthen Dollar's Global Role, According to New Paper

Stablecoins Could Boost U.S. Treasury Demand and Strengthen Dollar's Global Role, According to New Paper

Blockchain Technology Revitalizes U.S. Dollar's Global Reach Through Stablecoins

Blockchain Technology Revitalizes U.S. Dollar's Global Reach Through Stablecoins

Blockchain Technology Revitalizes U.S. Dollar's Global Reach Through Stablecoins

Consumer and Civil Rights Groups Urge Congress to Combat Predatory Lending and Support Rate Caps

Consumer and Civil Rights Groups Urge Congress to Combat Predatory Lending and Support Rate Caps

A coalition of 118 consumer, civil rights, and community organizations has called upon Congress to take action against predatory lending practices. The groups are advocating for the defense and strengthening of interest rate limits and increased transparency to address the ongoing affordability crisis. Specifically, they are urging the Trump Administration to reject applications from lenders like Enova and OppFi, which reportedly charge annual interest rates of 100% APR or higher, from becoming national banks. Furthermore, the coalition opposes H.R. 7866 (Davidson)/S. 3889 (Moreno), known as the American Lending Fairness Act. Conversely, they are expressing support for S. 3721 (Whitehouse), the Empowering States’ Rights to Protect Consumers Act, and S. 3793 (Reed), the Predatory Lending Elimination Act. This collective effort highlights a significant concern among these organizations regarding the impact of high-cost credit on vulnerable populations and the broader economy.

Financial Institutions Can Innovate on Permissionless Blockchain Networks, Dispelling Compliance Concerns

Financial Institutions Can Innovate on Permissionless Blockchain Networks, Dispelling Compliance Concerns

Financial Institutions Can Innovate on Permissionless Blockchain Networks, Dispelling Compliance Concerns

European Parliament Committee Adopts Position on SFDR Reform, Allowing Fossil Fuel Inclusion in Transition Products

European Parliament Committee Adopts Position on SFDR Reform, Allowing Fossil Fuel Inclusion in Transition Products

European Parliament Committee Adopts Position on SFDR Reform, Allowing Fossil Fuel Inclusion in Transition Products

Nacha Establishes New Project Team to Explore Stablecoins and Tokenized Deposits in Payments

Nacha Establishes New Project Team to Explore Stablecoins and Tokenized Deposits in Payments

Nacha Establishes New Project Team to Explore Stablecoins and Tokenized Deposits in Payments

Senator Gillibrand Renews Call to Bar Elected Officials from Sponsoring Digital Assets Amidst Regulatory Debates

Senator Gillibrand Renews Call to Bar Elected Officials from Sponsoring Digital Assets Amidst Regulatory Debates

In July 2026, Senator Kirsten Gillibrand renewed her call to prohibit elected officials and their spouses from issuing or sponsoring digital assets. This action comes amidst ongoing discussions in the United States regarding federal and international digital asset regulation, with market structure, ethics, investor protection, and illicit finance risks remaining central themes. The Senate Digital Assets Subcommittee Chair Cynthia Lummis released updated text for the Digital Asset Market Clarity Act (CLARITY Act), which Senator Elizabeth Warren criticized as insufficient concerning conflicts of interest, investor protection, and national security. Separately, the Senate unanimously passed a resolution opposing any pardon or clemency for FTX founder Sam Bankman-Fried. Regulators, including SEC Chairman Paul Atkins and Commissioner Hester Peirce, are also advancing oversight through rulemaking efforts and cross-border policy recommendations, with crypto-related rulemaking identified as a key part of the SEC’s...

Fasanara Capital and Tether Launch $400 Million Private Credit Fund Targeting Fintech Lending

Fasanara Capital and Tether Launch $400 Million Private Credit Fund Targeting Fintech Lending

Fasanara Capital and Tether Launch $400 Million Private Credit Fund Targeting Fintech Lending

Crypto Industry and Banking Sector Intensify Lobbying Efforts Ahead of Key Senate Vote on Cryptocurrency Legislation

Crypto Industry and Banking Sector Intensify Lobbying Efforts Ahead of Key Senate Vote on Cryptocurrency Legislation

The cryptocurrency industry and the banking sector are engaged in a significant lobbying battle across U.S. senators' home states during the congressional summer recess. This intensified effort precedes a crucial Senate vote next week on major cryptocurrency legislation, known as the Clarity Act. The crypto industry has invested hundreds of millions of dollars to advance this bill, which aims to provide legal clarity by defining whether digital tokens are securities or commodities and which regulators oversee them. Advocacy groups like Stand With Crypto, backed by Coinbase, have mobilized their 3 million supporters to publish op-eds in local newspapers, host events, and contact members of Congress. Conversely, the banking industry, represented by groups such as the Independent Community Bankers of America (ICBA), is actively lobbying against certain provisions of the bill, particularly those that could allow digital tokens to compete with bank deposits. The Senate is scheduled for a procedural vote on Sept...

Senator Michael Bennet Urged to Oppose CLARITY Act Amid Concerns of Trump's Business Ventures

Senator Michael Bennet Urged to Oppose CLARITY Act Amid Concerns of Trump's Business Ventures

U.S. Senator Michael Bennet of Colorado is being urged to vote against the CLARITY Act, a cryptocurrency bill currently advancing through the U.S. Senate. Critics, including State Senator Katie Wallace, argue that this Republican-backed bill is a priority for President Trump and his administration, and is designed to benefit President Trump's private business ventures. The bill is described as an 'executive branch cash-grab disguised as market regulation' that could turn Congress into a 'rubber stamp' for President Trump's financial interests. Concerns have been raised about President Trump's reported $1.4 billion in crypto income in a single year, including $635 million from a self-branded meme coin. Additionally, the Trump family's crypto firm, World Liberty Financial, reportedly received conditional approval for a national trust bank charter from executive branch banking regulators, which critics view as a blatant abuse of executive authority. The CLARITY Act is seen as paving the way for further corrup...

Republicans Express Doubt on Clarity Act Passage Amidst Ethics Dispute Over Trump Family

Republicans Express Doubt on Clarity Act Passage Amidst Ethics Dispute Over Trump Family

Republican senators are indicating that the Digital Asset Market Clarity Act is likely to fail next week, primarily due to an unresolved dispute over ethics provisions concerning President Trump and his family. Senator Mike Rounds (R-S.D.) stated the bill 'does not look good right now,' and Senator Thom Tillis (R-N.C.) suggested it would fail if the White House does not bridge the gap on the ethics language. Democrats, including Senator Kirsten Gillibrand (D-N.Y.), have consistently demanded a conflict-of-interest provision covering senior officials, including the President. While a White House spokesperson affirmed President Trump's desire for the bill's passage and claimed agreement to comprehensive ethics provisions, Democrats maintain that talks have made little progress. The House passed the bill in July 2025, and the Senate Banking Committee advanced it in May, but it stalled over the summer due to lobbying efforts and the ethics debate. An updated text from Senator Lummis (R-Wyo.) in July included a...