The U.S. government needs to offer the world an alternative to China’s Belt and Road Initiative (BRI) beyond a “don’t work with China” approach, experts say. It has been about a decade since Beijing announced the BRI, previously named the One Belt, One Road Initiative. This initiative builds and finances infrastructure, transportation, technology, and energy…

The House Financial Services Committee Chairman Patrick McHenry (R-N.C.), warned against quick regulatory fixes for the banking crisis. The congressman from North Carolina told the American Bankers Association Washington Summit on March 22, we “cannot legislate confidence” when it comes to the banking sector. He stated that it was too early to see if any new…

Congress will hold its first bipartisan hearing with top federal financial regulators into the failure of Silicon Valley Bank (SVB) and Signature Bank at the end of the month, the House Financial Services Committee announced Friday. Martin Gruenberg, chairman of banking regulator the Federal Deposit Insurance Corporation (FDIC), and Michael Barr, vice chair for supervision…

FBI Director Christopher Wray warned members of the Senate Intelligence Committee on Wednesday about the dangers TikTok poses to the United States’ national security. “This is a tool that is ultimately within the control of the Chinese government, and it, to me, it screams out with national security concerns,” Wray told senators at a March…

Commentary A Democrat who sits on the House Financial Services Committee hired the brother of the head of the bankrupt cryptocurrency company FTX, potentially raising ethical questions. Gabe Bankman-Fried, the younger brother of FTX CEO Samuel Bankman-Fried, went to work in January 2019 for Rep. Sean Casten (D-Ill.). Casten, then a freshman congressman, was named that same…

Republicans on the House Financial Services Committee want Secretary of the Treasury Janet Yellen to testify before the panel to explain why billions in federal aid have failed to reach the majority of tenants and have created billions in backlog owed to landlords. “Many of us also believe that Secretary Yellen has failed to take…

WASHINGTON—The chief executives of America’s largest banks criticized President Joe Biden’s plans to raise taxes on corporations, saying that the increased tax rate would make U.S. businesses less competitive globally. The CEOs of JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley testified virtually on May 27 before the House Financial…