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☆ How did the pussy-bow blouse became a political staple?
▼ + stars: | 2024-10-08 | by ( Leah Dolan | ) edition.cnn.com time to read: +8 min

Vice President Kamala Harris wore a plum-hued pussy-bow shirt to speak with 60 Minutes correspondent Bill Whitaker. A slew of newly employed women in the ‘70s and ‘80s agreed, and the pussy-bow blouse’s sudden ubiquity in offices cemented it as a symbol of corporate, second-wave feminism. Melania Trump wore a pink Gucci pussy bow blouse at the presidential debate at Washington University in St. Louis, Missouri on October 9, 2016. Rick Wilking/Pool/AFP/Getty ImagesPeople gather at Stortorget square in Stockholm showing support for Sara Danius by wearing make-shift pussy-bow blouses with scarves and neck-ties. A ‘loaded garment’But still, the pussy-bow blouse continues to divide opinion.

Persons: ” Margaret Thatcher, Miriam Stoppard, “, Thatcher, Margaret Thatcher, Tim Graham, ”, Duchess Louise de La, — King Louis XIV’s, it’s, Kamala Harris, Donald Trump, Oprah, Bill Whitaker, Harris, John T, Malloy, Richard Nixon, Helen Thomas, Ik, Meg Whitman, Proctor, Gamble’s, I’m, Nina McLemore, ’, Hilary Clinton, Elizabeth Warren, Maxine Waters, Elena Kagan, Melania Trump, Kate Moss, Johnny Depp’s, Sara Danius —, Swedish Academy —, Danius, Rick Wilking, Sara Danius, Jonas Ekstromer, Jenny Sundén, Trump, Moss, Sundén, It’s, ” McLemore Organizations: CNN, British, Democratic National Conference, CBS, Milan Fashion, PBS, Democratic Rep, Supreme, Swedish Academy, Washington University, Getty, Södertörn University, “, Stock Exchange, Fortune Locations: British, Newburgh, ” New York, Sweden, St, Louis , Missouri, Stockholm, AFP, America

Celebrities and Notable Faces in the Crowd at the Democratic ConventionThousands of Democrats — delegates, party members, politicians and celebrities — filled Chicago’s United Center this week to nominate Vice President Kamala Harris and Governor Tim Walz of Minnesota for president and vice president. Doug Emhoff, the second gentleman Maya Harris, Tony West and Meena Harris Vice President Harris’s grand-niece Gov. After several guests highlighted Mr. Walz’s average-Joe persona and background as a football coach, he officially accepted the Democrats’ vice-presidential nomination. Senator Amy Klobuchar of Minnesota helped to introduce Mr. Walz before he took the stage, emphasizing his Midwestern roots. “America, I gave my best to you,” he said, reciting a phrase from the song “American Anthem” by Gene Scheer.

Persons: —, Kamala Harris, Tim Walz, Ms, Harris, Meena, Ella, Doug Emhoff, Maya Harris, Tony West, Meena Harris, Harris’s, Gov, Gus, Hope Octavia Spencer, Rosario Dawson, Padma Lakshmi, Joe, Sheryl Lee Ralph, Bill Clinton, Oprah Winfrey, Amy Klobuchar, Walz, Walz’s, Gwen, Tina Smith, Elizabeth Warren of, Mark Kelly of Arizona, Gabby Giffords, Arizona Julian Castro, Joaquin Castro of, Ilhan Omar, Minnesota Tony Goldwyn, Mark Hamill, J.B . Pritzker, Lil Jon soundtracked, Michelle Obama, Barack Obama, “, ”, Cole, Illinois Lil Jon, Mr, Emhoff’s, Barbara, Michael Cole, Emhoff's, Gretchen Whitmer, Wes Moore, Tony Evers, Andy Beshear, Maxine Waters, California Spike Lee, Wendell Pierce, Sean Astin, Hillary Clinton, Biden, Gene Scheer, Biden’s, ” Nancy Pelosi, Joe ” Organizations: Democratic, Chicago’s, Democrats ’, Joaquin Castro of Texas Rep, J.B, Illinois, Michigan Gov, Maryland Gov, Wisconsin Gov, Kentucky Rep Locations: Minnesota, Elizabeth Warren of Massachusetts, Arizona, Illinois, Kentucky, California, “ America

☆ Consumers reported losing $210 million to scams across payment apps last year. A new bill wants to help future victims get their money back.
▼ + stars: | 2024-08-07 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Consumers and small businesses sent $806 billion across 2.9 billion Zelle transactions in 2023, both up 28% from 2022. Consumers reported losing $210 million to scams across all payment apps in 2023, according to data from the Federal Trade Commission. The new bill aims to amend the law to make banks more liable for all financial transactions, whether they're authorized or unauthorized. AdvertisementOver 99.95% of all Zelle transactions in 2023 were completed without instances of fraud, according to Zelle. In the meantime, the Protecting Consumers from Payment Scams Act will go to the Committee on Banking, Housing, and Urban Affairs for review.

Persons: —, JPMorgan Chase, PayPal —, Maxine Waters, Sen, Richard Blumenthal, Elizabeth Warren, Waters, Zelle, Blumenthal, Wells Fargo, Wells, Cameron Fowler Organizations: Service, Bank of America, JPMorgan, Business, PayPal, Consumers, Federal Trade Commission, Rep, Homeland Security, Governmental Affairs, Investigations, Blumenthal, Services, Warning Services, SEC, Consumer Financial, Banking, Housing, Urban Affairs Locations: Zelle, Wells Fargo, jtowfighi@businessinsider.com

☆ Scam victims on Zelle rarely get their money back. A new bill could fix that
▼ + stars: | 2024-08-02 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Bank transfer or payment fraud losses spiked by nearly 150% over that span to $1.9 billion. The big banks that run Zelle in particular “rarely” reimburse customers duped by scammers, according to a recent Senate investigation. So Democrats in Congress are introducing new legislation that would seek to crack down on payment scams by closing loopholes in existing law. For instance, Zelle says that while customers hurt by unauthorized activity are “typically” able to get their money back, victims of scams may not. Under pressure from lawmakers, last year banks on Zelle began refunding some victims of imposter scams.

Persons: scammers, Maxine Waters, Sens, Richard Blumenthal, Elizabeth Warren, ” Blumenthal, “ Zelle, Zelle, Wells, ” Zelle, ” Ariana Duval, Duval, “, ” Duval, Cameron Fowler, EWS, ” Fowler, Fowler, he’s “, ” Organizations: New, New York CNN, Consumers, Bank, Republican, Rep, Senate, CNN, Homeland Security, Governmental Affairs, Investigations, Blumenthal, JPMorgan, Bank of America, North Carolina Agricultural, Technical State University, PayPal, Warning, Connecticut Democrat Locations: New York, Wells Fargo, Zelle, Connecticut

☆ Kamala Harris has 'earned' the right to be President of the United States, says Rep. Maxine Waters
▼ + stars: | 2024-07-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKamala Harris has 'earned' the right to be President of the United States, says Rep. Maxine WatersRep. Maxine Water (D-Calif.) joins 'Money Movers' to discuss her expectations for support of Kamala Harris and more.

Persons: Kamala Harris, Maxine Waters, Maxine Water Locations: United States

The House Democrats who said Biden should drop out of the 2024 race were Reps. Adam Smith of Washington, Jerry Nadler of New York, Mark Takano of California and Joe Morelle of New York. Some House Democrats in battleground districts are weighing whether to distance themselves from Biden. "President Biden is a good man & I appreciate his lifetime of service," she wrote in a post to X. During the interview, Biden dismissed the calls for him to step aside and said only the "Lord Almighty" could get him to reconsider his presidential bid. "Look, I mean, if the Lord Almighty came down and said, 'Joe, get out of the race,' I'll get out of the race," Biden said during the interview.

Persons: Joe Biden, Biden, Adam Smith of, Jerry Nadler, Mark Takano, Joe Morelle, Smith, Nadler, Takano, Morelle, Hakeem Jeffries, Donald Trump, Kamala Harris, Trump, Susan Wild, Angie Craig, Maxine Waters, Barbara Lee, Frederica Wilson, Wilson, he's, George Stephanopoulos, Almighty, Joe, Almighty's Organizations: WASHINGTON —, Congress, Democrats, NBC News, Armed Services, Veterans ' Affairs Committee, House Administration Committee, House Democratic, Biden, Congressional, Caucus, NBC, California Democratic, Trump, Rep, ABC News, Capitol Locations: Adam Smith of Washington, York, California, New York, Congress, House, D, Pennsylvania

CNN —More than a handful of House Democratic ranking members told House Minority Leader Hakeem Jeffries in a Sunday call that President Joe Biden needs to step aside from the 2024 campaign, according to sources familiar with the call. Democratic Reps. Maxine Waters and Bobby Scott spoke in support of Biden, according to one of the sources. “It was pretty brutal,” a senior Democratic aide told CNN, speaking on condition of anonymity to discuss the private conversation among House leaders. One senior House Democrat said they have been on calls and group chats with dozens of their colleagues where the consensus is that Biden needs to step aside. One of the members told CNN they anticipate that is the day when the dam will break.

Persons: Hakeem Jeffries, Joe Biden, Jeffries, Biden, Mark Takano, Adam Smith, Jim Himes, Joe Morelle, Jerry Nadler, Susan Wild, Lloyd Doggett, Seth Moulton, Raúl Grijalva, Angie Craig, Mike Quigley, Maxine Waters, Bobby Scott, Kamala Harris, ”, — Organizations: CNN, Democratic, Democrat, House Democrat, Democratic Party Locations: Washington, “, Pennsylvania

Biden beat Trump 87% to 12% among Black voters in 2020, according to CNN exit polls. Harris attempted to convince festival attendees that “we can see it through” if they once again vote in record numbers. Many look to Harris as the obvious successor if Biden steps aside, with a recent CNN poll conducted after the debate showing the vice president outpacing Biden in a hypothetical race against Trump. The vice president was able to avoid talking about worries within her own party Saturday as the moderator did not specifically ask about concerns over Biden’s reelection bid. Meanwhile, other Biden surrogates at the event tackled the issue head-on, throwing their support behind the president and telling voters that he’s not going anywhere.

Persons: Kamala Harris, Trump, Joe Biden’s, Harris, ” Harris, Donald Trump, ”, Harris ’, Biden, he’s “, outpacing Biden, he’s, Joyce Beatty, Biden shouldn’t, “, Don’t, Maxine Waters, “ Biden, Harris —, Waters, “ We’re, We’re, Jeri Peris, Peris, He’s, ” Laura Morgan Roberts, it’s, Michelle Buxton, ” Buxton, Eric Bradner, Ali Main, Veronica Stracqualursi Organizations: New, New Orleans CNN, Saturday, Black, Biden, White House, Trump, CNN, New York Times, Siena College, “, Trump ., Ohio Democrat, Democratic Locations: New Orleans, Siena, Madison , Wisconsin, California, Washington, Chattanooga , Tennessee

☆ ‘Black Barbie: A Documentary’ takes a deeper look at a trailblazing doll
▼ + stars: | 2024-06-20 | by ( Kaila Nichols | ) edition.cnn.com time to read: +6 min

And so she did: “Black Barbie: A Documentary,” her newly-released project, takes a deeper look at the story behind Black Barbie and its impact on representation in the toy business, and culture more broadly. The first Black Barbie (pictured center) wore a bold red dress, gold jewelry and an afro. The actual Black Barbie doll didn’t become a reality until decades later, after the company hired Kitty Black Perkins in 1976 as its first Black designer. “Having Black Barbie (dolls) just reinforces the fact that being Black is fly and amazing — and that Black women are gorgeous. Black Barbie is also validation for us filmmakers, everybody who worked on it, being seen and heard in this industry,” she added.

Persons: Lagueria Davis, Beulah Mitchell, Davis —, —, Barbie, ” Davis, Black Barbie, Black, Shonda Rhimes, Misty Copeland, Ibtihaj Muhammad, Maxine Waters, Copeland, Muhammad, Mitchell, Ruth Handler, Patricia A, Turner, Handler, “, ” Mitchell, “ Christie ”, Julia ”, Christie, Julia, Diahann Carroll, Kitty Black Perkins, Black Barbie’s, Black Perkins, ” Black Perkins, Aaliyah Williams, ”, ’, White, Yolanda Hester, Shani, Stacey McBride, Irby, McBride, Kitty, Stacy, Williams Organizations: CNN, Mattel, SXSW, Black, Netflix, “ Locations: Mitchell’s

☆ Under Fire for ‘Toxic’ Work Culture, Bank Regulator Apologizes Again
▼ + stars: | 2024-05-14 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

Just days after the release of a scathing report detailing a culture of widespread sexual harassment and discrimination at the Federal Deposit Insurance Corporation, its chair, Martin Gruenberg submitted congressional testimony on Tuesday that indicated he had no plans to step down. “I accept the findings of the report and, as chairman, I take full responsibility,” he said. The hearings come as Mr. Gruenberg, a Democrat, faces calls from Republican lawmakers to resign. He has so far survived those demands with the backing of the White House and key Democratic lawmakers like Senator Sherrod Brown of Ohio, Senator Elizabeth Warren of Massachusetts and Representative Maxine Waters of California. Should Mr. Gruenberg be pressured to depart the agency after the hearings, that could also put into jeopardy a rule that the agency is proposing along with other federal bank regulators, to tighten and expand oversight of the nation’s largest lenders, but which has been fiercely opposed by big banks.

Persons: Martin Gruenberg, Gruenberg, ”, Sherrod Brown of, Elizabeth Warren of, Maxine Waters Organizations: Federal Deposit Insurance Corporation, Financial, Democrat, White, Elizabeth Warren of Massachusetts Locations: Sherrod Brown of Ohio, California

☆ Rep. Maxine Waters: Americans are sick and tired of Trump and right-wing Republicans
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Maxine Waters: Americans are sick and tired of Trump and right-wing RepublicansRep. Maxine Waters (D-Calif.) joins 'Money Movers' to discuss happenings in the Republican caucus, how to get necessary bills through Congress, and more.

Persons: Maxine Waters, Trump Organizations: Rep, Republicans, Republican

From 1985 to 2002, he worked at Goldman Sachs, one of the most storied — and criticized — investment banks on Wall Street. He famously swooped in to turn around the struggling IndyMac bank after its failure in the financial crisis of 2008. Earlier this month, Mnuchin jumped back into the headlines when his PE firm led a roughly $1 billion investment in embattled New York Community Bancorp. In 2009, OneWest Bank Group, where Mnuchin was chairman and CEO, bought the troubled IndyMac after federal regulators took over the bank. Mnuchin was Treasury secretary in 2020, when the Trump administration brokered a deal where Oracle and Walmart would take a large stake in TikTok.

Persons: Steven Mnuchin, Donald Trump’s, Goldman Sachs, Mnuchin, Max, Mnuchin's dealmaking, Robert Weissman, ” Weissman, Robert Rubin, Clinton, Weissman, couldn’t, NYCB, George Soros, John Paulson, OneWest, Kevin Kaiser, “, ” Kaiser, Maxine Waters, ”, Trump, doesn't, Chris Caulfield, ” Caulfield, ” ___ Rugaber Organizations: Trump, Public Citizen, Treasury, Treasury Department, Liberty Strategic Capital, Citizens, New York Community Bancorp, OneWest Bank Group, Federal, of Insurance Corp, FDIC, Wharton School, Oracle, Walmart, CNBC Locations: Wall, TikTok, Saudi Arabia, East, Washington, Congress, U.S, China, West Monroe, “

☆ Rep. Maxine Waters: We must resist big bank mergers right now
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Maxine Waters: We must resist big bank mergers right nowHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Maxine Waters, Brian Sullivan, “ Organizations: Rep, CNBC

☆ Why do people keep uninsured money in banks?
▼ + stars: | 2024-02-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Somehow, the same issue plaguing last year’s failed banks is back in focus at the latest bank in crisis: massive loads of uninsured deposits. To be sure, the risk isn’t anywhere close to that of the banks that failed last year: About 94% of domestic deposits at Silicon Valley Bank were uninsured and 90% of Signature Bank’s deposits were uninsured, according to the Federal Reserve. The money is guaranteed by the Federal Deposit Insurance Corporation, which is funded by fees paid by major US banks. About 40% of all money in the US, or $8 trillion, sitting in banks is uninsured, said Lawrence White, a professor at New York University’s Stern School of Business. “It also risks violating the FDIC’s statutory requirement to resolve failed banks and protect insured depositors in the least expensive way possible.”Sometimes, he said, rescuing those uninsured depositors may be the cheapest way to protect insured depositors at banks.

Persons: NYCB, Brian Snyder, James Lee, David Wessel, Lawrence White, University’s, Banks, Ting Shen, ”, Kori Suzuki, JPMorgan Chase, Michael Ohlrogge, Maxine Waters, Elizabeth Warren, “ Organizations: New, New York CNN, New York Community Bancorp, Investors, Silicon Valley Bank, Federal Reserve, Bank, Xinhua, Federal Deposit Insurance Corporation, FDIC, Reuters, Brookings Institution, International Monetary Fund, University’s Stern School of Business, US Treasury, Bloomberg, Getty, Securities and Exchange Commission, Valley Bank, Signature Bank, JPMorgan, Bank of America, Citigroup, First Republic Bank, New York University’s School of Law, Financial Services, Banking Committee, CBS, Bank Coalition of America Locations: New York, Silicon, United States, New, ”, Washington , DC, San Francisco , California, Sen

☆ Janet Yellen: Some banks may be ‘quite stressed’ by empty office building trouble
▼ + stars: | 2024-02-06 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

“I will never forget it,” Yellen told lawmakers during a hearing before the House Financial Services Committee, referring to the weekend after Silicon Valley Bank failed. Although the bank crisis subsided after federal regulators launched emergency programs, some regional banks have come under renewed pressure in recent days. Yellen said bank regulators are “quite focused” on this problem, including by working with banks to manage risks, build up reserves to cover losses, adjust dividend policies and maintain liquidity. “It’s critically important that the US be on a fiscally sustainable path,” Yellen told lawmakers during the hearing. “We are doing better” than the rest of the world, Yellen told lawmakers Tuesday.

Persons: Janet Yellen, ” Yellen, “, Yellen, Maxine Waters, “ I’m, Larry Kudlow, It’s, Joe Biden, Jerome Powell, “ It’s, ” Powell Organizations: New, New York CNN, Valley Bank, Financial Services, Bank, New York Community Bancorp, Financial, Trump, Federal Locations: New York, Valley, United States, Japan

☆ Group of Democrats call on Blinken to provide answers on bypassing Congress to approve arms sales to Israel
▼ + stars: | 2024-01-30 | by ( Jennifer Hansler | ) edition.cnn.com time to read: +6 min

CNN —A group of 19 predominantly Democratic lawmakers is calling on Secretary of State Antony Blinken to provide answers about why he bypassed Congress last month to approve arms sales to Israel. The top US diplomat made two emergency determinations in December to immediately approve the transfer hundreds of millions of dollars in military equipment to Israel. In their letter, the lawmakers noted the rarity of administrations using emergency declarations to immediately approve arms sales without congressional approval. “Use of a national emergency waiver does not exempt the U.S. government from assessing whether arms sales are consistent with” those standards, they wrote. I would say that the process that the secretary followed and the process that we follow here at the State Department is the process that the law actually prescribed,” Miller said at a State Department briefing.

Persons: Antony Blinken, Blinken, Joe Biden, Independent Sen, Bernie Sanders, Democratic Sens, Elizabeth Warren, Jeff Merkley, Peter Welch, James McGovern, Earl Blumenauer, Joaquin Castro, Judy Chu, Raúl, Pramila Jayapal, Barbara Lee, Betty McCollum, Chellie Pingree, Mark Pocan, Delia Ramirez, Jan Schakowsky, Jill Tokuda, Maxine Waters, Eleanor Holmes Norton, Leahy, credibly, “ Israel, ”, ’, “, Matt Miller, ” Miller Organizations: CNN, UN, Independent, Democratic, State Department, Leahy, ”, Department Locations: Israel, Gaza, Hamas

☆ Senators call on federal regulators to review Navy Federal mortgage disparities, citing CNN investigation
▼ + stars: | 2024-01-11 | by ( Casey Tolan | Rene Marsh | ) edition.cnn.com time to read: +6 min

In a letter to the Department of Housing and Urban Development and the Consumer Financial Protection Bureau, ten Democratic U.S. senators asked the regulators to investigate Navy Federal Credit Union’s mortgage lending for compliance with federal anti-discrimination laws. The credit union, which has more than 13 million members, lends to military servicemembers, defense personnel, veterans, and their families. “Navy Federal’s members have made countless sacrifices in their service to our country,” the senators wrote in the letter. The credit union declined to provide CNN any additional data that would make it possible to analyze those factors. Navy Federal has not yet responded to the lawsuits in court.

Persons: Sen, Sherrod Brown, Ron Wyden, Mary McDuffie, Emanuel Cleaver, Steven Horsford, Hakeem Jeffries, ”, Maxine Waters, Ben Crump – Organizations: CNN, Department of Housing, Urban Development, Consumer Financial Protection, Democratic U.S, Navy, Credit, Banking, Finance, Congressional Black Caucus, Federal, “, Navy Federal, Financial Services Locations: Ohio, Oregon, “ Navy, Virginia

☆ Coinbase’s stablecoin bet pegs to wishful thinking
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

The crypto exchange will take a minority stake in Circle Internet Financial, issuer of stablecoin USDC. Such tokens, designed to track the U.S. dollar, haven’t delivered on promises of transforming finance. Coinbase already earns interest from reserves backing USDC through a partnership with Circle, and doesn’t expect any new major financial benefit. Meanwhile, U.S. legislation to regulate the tokens is stalled, and PayPal’s (PYPL.O) stablecoin launch last month drew criticism from Representative Maxine Waters, among others. Coinbase, meanwhile, is cozying up to pillars of traditional finance like BlackRock (BLK.N).

Persons: haven’t, Coinbase, Maxine Waters, Brian Armstrong, Anita Ramaswamy, EY’s loveless, Jonathan Guilford, Sharon Lam Organizations: Reuters, U.S ., Wall Street Journal, BlackRock, Twitter, TPG, Thomson

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. "From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG. Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors. When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions. Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.

Persons: Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis Organizations: PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson Locations: Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru

☆ In the Market: Funds fret over the fallout of Biden's China order
▼ + stars: | 2023-08-14 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +6 min

The executive order along with anti-China moves by lawmakers and agencies means the overall policy is unclear and riddled with landmines. "It will be very important to monitor how this executive order is being received in Congress." The executive order affects venture funds and private equity firms that invest in Chinese companies in semiconductors and microelectronics, quantum information technologies and artificial intelligence. MORE RESTRICTIONSSome of the investors said the administration's approach in framing the executive order had been more consultative. U.S. Representative Maxine Waters, Biden's fellow Democrat, said on Friday the executive order and rulemaking on outbound investment must be "broadened and strengthened."

Persons: Florence Lo, Biden, Anthony Rapa, Blank, Blackrock, MSCI, Maxine Waters, Paritosh Bansal, Andrea Shalal, Laura Matthews, Anna Driver Organizations: REUTERS, Fund, Investors, Blackrock, U.S, Chinese Communist Party, The, Vanguard, Morningstar, Blackrock's, Reuters Graphics Reuters, Thomson Locations: China, U.S, Beijing, Washington, MSCI, New York

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Maxine Waters 'deeply concerned' over PayPal's new stablecoin: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Ben McMillan, founder and CIO of IDX Digital Assets, discusses what's currently driving crypto prices as PayPal launches its new dollar-backed stablecoin and as big names in finance file applications for spot bitcoin ETFs.

Persons: Maxine Waters, explainers, Ben McMillan, what's Organizations: Rep, CNBC Crypto, CNBC, IDX, Assets, PayPal

☆ Congresswoman Waters 'deeply concerned' about PayPal's stablecoin launch
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Representative Maxine Waters (D-CA) walks in the chamber of the U.S. House of Representatives ahead of President Joe Biden's first State of the Union Address in the U.S. Capitol in Washington, DC, U.S, March 1, 2022. Sarahbeth Maney/Pool via REUTERSAug 9 (Reuters) - Democrat Congresswoman Maxine Waters said on Wednesday she was "deeply concerned" about payment giant PayPal (PYPL.O) launching its own stablecoin in the absence of a federal framework to regulate digital assets. Earlier this week, PayPal became the first major financial technology firm to embrace digital currencies for payments and transfers with the launch of a U.S. dollar stablecoin, dubbed PayPal USD. "Given PayPal's size and reach, Federal oversight and enforcement of its stablecoin operations is essential in order to guarantee consumer protections and alleviate financial stability concerns," Waters said in a statement. Similar attempts by other well-known non-crypto companies, including Meta Platforms (META.O), to launch a stablecoin have met fierce opposition from financial regulators and policymakers around the world.

Persons: Maxine Waters, Joe Biden's, Sarahbeth, Waters, Manya Saini, Shinjini Organizations: U.S . House, U.S, Capitol, REUTERS, PayPal, Meta, U.S . House Financial, Thomson Locations: Washington , DC, U.S, Bengaluru

The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. A handful of Democrats, including Reps. Jim Himes and Ritchie Torres, joined committee Republicans in voting for the bill. The bill has galvanized many in the crypto industry, who say that with Democrats' support, the bill could have a shot in the Senate. But some Democrats, including Representative Maxine Waters, the top Democrat on the Financial Services committee, fiercely oppose the bill. "This bill heeds the calls from the crypto industry while disregarding the views of the administration, the Securities and Exchange Commission and consumer and investor advocates," she said.

Persons: Jim Himes, Ritchie Torres, Patrick McHenry, we've, Kristin Smith, Miller Whitehouse, Levine, Maxine Waters, Waters, Sherrod Brown, Hannah Lang, Matthew Lewis, Mark Porter, Diane Craft Organizations: Capitol, Voyager, House Financial, Trading, Securities, Exchange, Republicans, Agriculture, Financial Services, Blockchain Association, DeFi, Securities and Exchange Commission, Democratic, Banking, SEC, Politico, Thomson Locations: Singapore, Australia, United States, McHenry, Washington

But Representative Patrick McHenry, the chair of the committee, said on Thursday at the outset of a hearing that he had not reached a deal with Representative Maxine Waters, the committee's top Democrat. "We had high hopes 48 hours ago that we were going to come to a conclusion and then the White House reviewed where we were and disagreed," said McHenry. The stalemate comes just a day after the committee advanced a bipartisan bill that aims to develop a regulatory framework for cryptocurrencies and clarify when a token is a security or a commodity. A handful of House Democrats, including Jim Himes and Ritchie Torres, joined committee Republicans in voting for that bill, which is also being considered by the House Agriculture Committee on Thursday. Reporting by Hannah Lang in Washington; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Patrick McHenry, Maxine Waters, McHenry, Jim Himes, Ritchie Torres, Hannah Lang, Bill Berkrot Organizations: Republican, Democrat, U.S . House Financial, ., U.S . Federal, White House, Democrats, Republicans, House, Thomson Locations: Washington

The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies. The markups - where legislation is debated and brought to a vote, paving the way for a full vote by the House of Representatives - are the first time crypto regulatory bills will be put to a vote in Congress, a victory for crypto lobbyists that have pushed lawmakers to provide regulatory clarity for the industry. His committee is expected to consider that bill during a markup on Wednesday, while the House Agriculture Committee will consider the same bill on Thursday. The bill has galvanized many in the crypto industry, who say that with Democrats' support, the bill could have a shot in the Senate. That effort escalated last month when the SEC sued crypto exchanges Coinbase (COIN.O) and Binance for failing to register some crypto tokens.

Persons: we've, Kristin Smith, Sherrod Brown, Patrick McHenry, McHenry, Miller Whitehouse, Levine, Maxine Waters, Waters, Hannah Lang, Matthew Lewis, Mark Porter Organizations: Capitol, Voyager, Financial, U.S ., Representatives, Blockchain Association, Democratic, Banking, Trading, Securities, Exchange, DeFi, SEC, Financial Services, Securities and Exchange Commission, Politico, Thomson Locations: Singapore, Australia, United States, McHenry, Washington

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