2024-04-10T10:52:27-04:00April 9th, 2024|2- Daily Briefing|

Senate GOP Tackles Card Fees

Joined by GOP Senators from credit-card domiciles, Senate Banking Ranking Member Scott (R-SC) yesterday led the expected Republican resolution overturning the CFPB’s credit-card late fee rule (see FSM Report CREDITCARD37).  It joins like-kind resolutions from Rep. Barr (R-KY) and Ogles (R-TN), with Mr. Barr’s resolution the one likely to move to the House floor.

Warren Starts Bargaining for Crypto-AML Standards

Throwing another wrinkle into the careworn face of efforts to pass stablecoin legislation, Sen. Warren (D-MA) yesterday sent a letter to Reps. McHenry (R-NC) and Waters (D-CA) arguing that their ongoing and apparently-hopeful efforts to craft stablecoin legislation may inadvertently amplify risk.